Cable TV firm Comcast revenue above estimates
Netflix remains a threat as customers dump pricier pay-TV services opting for cheaper streaming
Bengaluru/New York — Top US cable services provider Comcast reported quarterly revenue above analysts’ estimates on Wednesday, buoyed by lower-than-expected video subscriber losses and growth in its broadcast television and theme parks businesses. The Philadelphia-based company said it would raise its dividend by 10%. Revenue jumped 26.1 % to $27.85bn in the fourth quarter. On an adjusted basis, revenue was $28.28bn. Analysts had expected revenue of $27.55bn, according to IBES data from Refinitiv. Excluding items, the company earned 64c per share. Analysts had expected 62c per share. It was not immediately clear if the numbers were comparable. Net income attributable to the company fell 83.3% to $2.51bn, or 55c per share, from $15bn, or $3.17 per share, a year earlier, when it recorded a $12.7bn one-time benefit from the US tax overhaul. The company said it lost 29,000 video customers in the quarter, smaller than the 33,000 in 2018 and also fewer than the 62,000 loss estimated by an...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.