Comcast tops income and earnings estimates irrespective of broadband subscriber losses, raises dividend by 7%

Comcast topped the two profits and revenue estimates in the fourth quarter as it misplaced less broadband subscribers than anticipated, and it elevated its dividend 7%, the corporation reported Thursday.

This is how Comcast performed, in comparison with estimates from analysts surveyed by LSEG, previously regarded as Refinitiv.

• Earnings per share: 84 cents adjusted vs. 79 cents envisioned
• Profits: $31.25 billion vs. $30.51 billion predicted

For the quarter ended Dec. 31, net income rose 7.8% to $3.26 billion, or 81 cents a share, when compared to $3.02 billion, or 70 cents a share, a 12 months earlier. Earnings elevated 2.3% in contrast with the prior-12 months period of time. Modified earnings before interest, taxes, depreciation and amortization (EBITDA) was flat year-around-yr at about $8 billion.

“For the 3rd consecutive year, we generated the greatest profits, adjusted EBITDA and altered EPS in our company’s background,” Comcast Chief Executive Officer Brian Roberts explained in a statement. “We also described the optimum modified EBITDA on document at Concept Parks were being the #1 studio in worldwide box business office for the very first time given that 2015 and taken care of Peacock’s placement as the swiftest expanding streamer in the U.S.”

Comcast enhanced its dividend by 8 cents, or 7%, to $1.24 for each share on an annualized basis for 2024. It really is the 16th consecutive year the organization has elevated its dividend. Comcast also permitted a new share repurchase system authorization with no expiration day for $15 billion, helpful as of Friday.

Totally free money circulation in the fourth quarter was $1.7 billion and $13 billion for the calendar year.

Comcast missing 34,000 domestic broadband subscribers — significantly less than the common analyst estimate of about 62,000 as compiled by StreetAccount. Irrespective of the losses, domestic broadband profits rose 3.7% to $6.4 billion. Common income for every consumer jumped 3.9% as clients connected extra products and invested additional for larger Net speeds.

Comcast included 310,000 wi-fi subscribers, trailing the typical analyst of about 342,000 received. The business shed 389,000 video subscribers — a narrower decline than the typical analyst estimate of approximately 458,000.

Theme parks adjusted EBITDA rose 11.6% to $872 million, which trailed analyst estimates of around $897 million. The figure however broke a quarterly file for Comcast.

NBCUniversal’s flagship streaming support Peacock extra 3 million subscribers as earnings enhanced 51% to $1.03 billion, marking the initially time Peacock has topped $1 billion or much more in a quarter. Peacock lost an adjusted $825 million in the quarter, narrowing its loss from $978 million in the similar time period a calendar year prior. Peacock ended the quarter with 31 million subscribers.

In general media earnings enhanced 3.1% to almost $7 billion, but adjusted EBITDA fell 50% to $108 million because of to amplified sporting activities programming fees and larger programming costs at Peacock. The boost in sports activities fees reflected better media legal rights for NFL programming, the Premier League and the Huge 10.

Domestic marketing income lessened 6.9% year in excess of 12 months to $2.64 billion, even though revenue would have elevated 2.7% in the quarter with the exclusion of past year’s Earth Cup marketing.

Theatrical revenue rose 59% in the quarter centered largely on the functionality of 4 films: “Five Evenings at Freddy’s,” “Trolls Band Jointly,” “The Exorcist: Believer” and “Migration.” Universal ranked very first in global box business in 2023 for the initially time considering the fact that 2015 and developed a few of the major 5 motion pictures: “The Tremendous Mario Bros. Film,” “Oppenheimer,” and “Speedy X.”

Disclosure: Comcast owns NBCUniversal, the mum or dad corporation of CNBC.