Comcast Q4 Profit Down 9.6%, But Results Top Estimates; Boosts Dividend 8% - Quick Facts

(RTTNews) - Comcast Corp. (CMCSA, CMCSK) on Thursday reported that net income attributable to Comcast for the quarter decreased 9.6 percent to $3.06 billion or $0.66 per share from $3.38 billion or $0.73 per share in the year-ago quarter. Excluding items, adjusted earnings for the quarter were $0.77, compared to $0.56 per share in the prior-year quarter.

On average, 26 analysts polled by Thomson Reuters expected the company to report earnings of $0.73 per share for the quarter. Analysts' estimates typically exclude special items.

Revenue for the quarter grew 9.5 percent to $30.34 billion from $27.71 billion in the same quarter last year. Analysts had a consensus revenue estimate of $29.61 billion for the quarter.

Revenue for Cable Communications grew 4.5 percent to $16.41 billion and NBCUniversal revenue increased 25.6 percent to $9.34 billion, while revenue for Sky decreased 2.4 percent to $5.08 billion from last year.

Cable Communications total customer relationship net additions were 169,000 to 34.22 million, and total broadband customer net additions were 212,000 to 31.90 million from last year. Cable Communications wireless customer line net additions were 312,000 to 3.98 million from last year.

Separately, Comcast announced that its Board of Directors declared an 8 percent higher quarterly dividend of $0.27 a share on the company's common stock, payable on April 27, 2022 to shareholders of record as of the close of business on April 6, 2022.

Comcast also announced that its Board of Directors increased its share repurchase program authorization to $10.0 billion, effective as of January 1, 2022.