Comcast Corp., the largest U.S. cable-TV provider, posted fourth-quarter earnings that beat analysts’ estimates as the company continued to add cable-TV customers. The Philadelphia-based company signed up 80,000 new cable-TV customers in the period, according to a statement Thursday. That beat the 77,929 average of analysts’ estimates. Profit excluding some items grew to 89 cents a share, exceeding the 87-cent average of analysts’ estimates. (Bloomberg)
Comcast reported revenue of $21 billion for the quarter, up 9 percent, and operating income of $4.26 billion, up 6.6 percent. Content licensing at NBCUniversal’s cable, broadcast and film units was a big contributor to the quarter. NBCU acknowledged that subscriber levels for its cable networks dropped even as distribution revenue increased 4.7 percent for the quarter. But content licensing was up 14.6 percent for the quarter. Overall, cable network revenue grew 4 percent to $2.5 billion for the quarter while operating cash flow grew 2.4 percent to $916 million. (Variety)
Revenue at NBCUniversal, which Comcast acquired in 2011, rose 13 percent. It was helped by the popularity of Thursday Night Football and prime-time shows such as This Is Us. Investors are also keeping a close watch on whether Comcast could face new competition if AT&T’s proposed $85.4 billion acquisition of Time Warner is approved by regulators. AT&T said Wednesday that it expects approval for the deal later this year. (CNBC)