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Comcast Trades Higher On Q4 Earnings Beat

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Comcast Trades Higher On Q4 Earnings Beat

Comcast (NASDAQ: CMCSA) shares are trading higher after the company reported fourth-quarter earnings of 79 cents per share on Thursday, which beat the analyst consensus estimate of 76 cents by 3.95%.This is a 23.44% increase over earnings of 64 cents per share from the same period last year.

The company reported quarterly sales of $28.398 billion, which beat the analyst consensus estimate of $28.17 billion by 0.81%. This is a 1.98% increase over sales of $27.846 billion the same period last year.

"Our teams at Cable, NBCUniversal and Sky continued to execute at a high level, strengthening our leadership position in our markets," said Brian Roberts, Chairman and CEO. "Looking ahead, in 2020 we are leaning into exciting opportunities, including: further differentiating our broadband product in the U.S. through innovations like Flex and xFi Advanced Security; accelerating the deployment of Sky Q; launching a new broadband service in Italy; debuting Super Nintendo World at Universal Studios Japan; and introducing a world-class streaming service - Peacock."

Comcast also increased its dividend to 92 cents per share on an annualized basis.

Comcast shares are trading up 2% at $48.44 in Thursday’s pre-market session. The stock has a 52-week high of $47.74 and a 52-week low of $34.67.

Posted-In: Earnings News

 

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