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Comcast Q4 Profit Increases; Hikes Annual Dividend By 10% - Quick Facts

Comcast Corp. (CMCSA) reported that its fourth-quarter net income attributable to the company increased 25.9% to $3.16 billion from $2.51 billion in the prior year. Earnings per share was $0.68, an increase of 23.6% from $0.55 last year.

The company increased its dividend by 10% to $0.92 per share on an annualized basis for 2020. It declared a quarterly cash dividend of $0.23 per share on the company's stock, payable April 22, 2020 to shareholders of record as of the close of business on April 1, 2020.

On an adjusted basis, earnings per share for the fourth-quarter increased 9.7% to $0.79 from the previous year. Analysts polled by Thomson Reuters expected the company to report earnings of $0.76 per share for the quarter. Analysts' estimates typically exclude special items.

Consolidated revenue for the fourth quarter rose 2.0% to $28.40 billion from the last year. Analysts expected revenues of $28.17 billion for the fourth-quarter.

The comparability of consolidated results was impacted by the fourth quarter 2018 Sky transaction. Sky's results of operations are included in its consolidated financial statements following the acquisition date.

Consolidated pro forma revenue for the fourth quarter of 2019 was consistent with the prior year period at $28.4 billion.

Revenue for Cable Communications increased 2.6% to $14.8 billion in the fourth quarter of 2019, driven primarily by increases in high-speed internet, business services and wireless revenue, partially offset by a decrease in advertising revenue.

Total Customer Relationships increased by 372,000 to 31.5 million in the fourth quarter of 2019. Residential customer relationships increased by 352,000 and business customer relationships increased by 20,000.

Revenue for NBCUniversal decreased 2.6% to $9.2 billion in the fourth quarter of 2019.

Cable Networks revenue increased 1.2% to $2.9 billion in the fourth quarter of 2019, primarily reflecting higher advertising and content licensing and other revenue.

Broadcast Television revenue increased 2.1% to $3.2 billion in the fourth quarter of 2019, reflecting higher distribution and other and content licensing revenue, partially offset by a decrease in advertising revenue.

Filmed Entertainment revenue decreased 21.0% to $1.6 billion in the fourth quarter of 2019, primarily reflecting lower theatrical revenue. Theatrical revenue decreased 59.1%, reflecting the volume and strength of releases in last year's fourth quarter.

Theme Parks revenue increased 3.2% to $1.6 billion in the fourth quarter of 2019, due to increases in guest spending.

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