Comcast Corp (Comcast Co., CMCSA) announced that its NBCUniversal media subsidiary and high-speed Internet business contributed to the company's fourth-quarter growth.
The company also raised its dividend for the 2019 quarter by 10% to 84 cents a share.
Overall, Comcast Corp's revenue rose 5.2 per cent year-on-year to $28.3 billion, taking into account the impact of the acquisition of pay-TV operator Sky PLC.
The company's profit fell to $2.51 billion, or 55 cents a share, from $15 billion, or $3.17 a share, a year earlier, boosted by one-off tax breaks. Excluding the impact of tax breaks in the same period last year, Comcast Corp's profit rose 36% to 64 cents per share.
The quarter's results were better than those expected by analysts surveyed by FactSet. The survey expects revenue of $27.55 billion, or 62 cents a share, after adjustment.
Comcast Corp continues to lose traditional pay-TV subscribers, but at a slower rate than some similar companies. The company's user loss narrowed to 29000, compared with 33000 in the same period last year.
The broadband business added 351000 users and revenue increased by 10.1% in the quarter.
NBCUniversal revenue surged 7.1 per cent. The radio and television subsidiary more than doubled its adjusted operating profit, boosted by growth in broadcasting fees and advertising revenue. NBCUniversal owns multiple television networks and Universal film and television production companies.
Comcast Corp announced the subsidiary's results for the first time since it bought Sky, an European pay-TV company, in October. In the fourth quarter of 2018, Sky revenue rose 5.6% from a year earlier to $5.02 billion, including $3.98 billion from direct consumer-oriented services such as broadband and pay-TV subscriptions.
By Benjamin Mullin; Write to Benjamin Mullin at Benjamin.Mullin@wsj.com
Copyright (c) 2019 Dow Jones Company. The copyright of this article belongs to Dow Jones and may not be translated or reproduced without permission.
The company also raised its dividend for the 2019 quarter by 10% to 84 cents a share.
Overall, Comcast Corp's revenue rose 5.2 per cent year-on-year to $28.3 billion, taking into account the impact of the acquisition of pay-TV operator Sky PLC.
The company's profit fell to $2.51 billion, or 55 cents a share, from $15 billion, or $3.17 a share, a year earlier, boosted by one-off tax breaks. Excluding the impact of tax breaks in the same period last year, Comcast Corp's profit rose 36% to 64 cents per share.
The quarter's results were better than those expected by analysts surveyed by FactSet. The survey expects revenue of $27.55 billion, or 62 cents a share, after adjustment.
Comcast Corp continues to lose traditional pay-TV subscribers, but at a slower rate than some similar companies. The company's user loss narrowed to 29000, compared with 33000 in the same period last year.
The broadband business added 351000 users and revenue increased by 10.1% in the quarter.
NBCUniversal revenue surged 7.1 per cent. The radio and television subsidiary more than doubled its adjusted operating profit, boosted by growth in broadcasting fees and advertising revenue. NBCUniversal owns multiple television networks and Universal film and television production companies.
Comcast Corp announced the subsidiary's results for the first time since it bought Sky, an European pay-TV company, in October. In the fourth quarter of 2018, Sky revenue rose 5.6% from a year earlier to $5.02 billion, including $3.98 billion from direct consumer-oriented services such as broadband and pay-TV subscriptions.
By Benjamin Mullin; Write to Benjamin Mullin at Benjamin.Mullin@wsj.com
Copyright (c) 2019 Dow Jones Company. The copyright of this article belongs to Dow Jones and may not be translated or reproduced without permission.