UPDATE: Comcast Posts Downbeat Q4 Earnings, Lifts Dividend

Comcast Corporation CMCSA reported weaker-than-expected earnings for the fourth quarter. However, the company's revenue exceeded estimates. The Philadelphia, Pennsylvania-based company reported a quarterly profit of $1.93 billion, or $0.74 per share, compared to $1.91 billion, or $0.72 per share, in the year-ago period. Excluding certain items, the company's adjusted profit rose 16.7% to $0.77 per share. Its revenue climbed 4.8% to $17.73 billion. However, analysts were expecting a profit of $0.77 per share on revenue of $17.68 billion. Comcast also announced its plans to lift annual dividend by 11.1% to $1 per share and lift its stock-buyback program to $10 billion. During the quarter, Comcast added 6,000 video customers, versus 46,000 additions, a year earlier. Consolidated operating cash flow surged 4.1% to $5.9 billion in the quarter, while free cash flow gained 18.0% to $1.7 billion. During the fourth quarter, the company paid dividends totaling $580 million and repurchased 36.8 million of its common shares for $2.0 billion. Revenue for Cable Communications rose 6.1% to $11.3 billion, while operating cash flow for Cable Communications rose 6.3% to $4.7 billion in the quarter. Revenue for NBCUniversal climbed 2.3% to $6.6 billion in the fourth quarter. Revenue from the Cable Networks segment came in stable at $2.3 billion, while revenue from the Broadcast Television segment rose 4.8% to $2.3 billion. Revenue from the Filmed Entertainment segment slipped 10.6% to $1.3 billion, while revenue from the Theme Parks segment jumped 29.9% to $735 million. The company added 375,000 broadband subscribers, up from 379,000 subscribers, while voice subscriber additions slipped to 123,000 versus 227,000 in the year-ago period. Comcast shares fell 1.70% to $57.22 in pre-market trading.