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Comcast Corporation (CMCSA) Stock Pops on Q4 Earnings Beat, 2-for-1 Split

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Comcast Corporation (NASDAQ: CMCSA ) stock was up on Thursday following a good fourth quarter and news of a two-for-one split.

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Comcast Corporation reported earnings per share of 89 cents for the fourth quarter of 2016. This is better than its earnings per share of 81 cents from the same time last year. It also came in above Wall Street's earnings per share estimate of 87 cents for the quarter.

Revenue reported by Comcast Corporation during the fourth quarter of the year was $21.03 billion. CMCSA reported revenue of $19.25 billion during the fourth quarter of 2015. Analysts were expecting the company to report revenue of $20.68 billion in its fourth quarter of 2016.

For the fourth quarter of 2016, Comcast Corporation reported operating income of $4.26 billion. Operating income from the same period in the year prior was $4.00 billion. Operating cash flow for the quarter was $6.76 billion, which is up from the $6.72 billion reported during the same time in 2015.

"Our performance at Comcast Cable was exceptionally strong," Comcast Corporation Chairman and CEO Brian Roberts said in a statement . "We grew operating cash flow 5.6%, added 161,000 video subscribers, the best video customer results in a decade, and delivered our best high-speed Internet customer results in nine years."

Comcast Corporation has also announced a two-for-one split stock split. This split will occur in the form of a 100% dividend. It will be payable to shareholders on Feb. 17, 2017. The investors must be on record as of Feb. 8, 2017 to receive the dividend.

Comcast Corporation also announced that it is increasing its dividend by 15% post-split on an annualized basis. Shareholders will receive a dividend of 15.75 cents per share on April 26, 2017. Investors must be on record as of April 5, 2017 to get the dividend.

CMCSA stock was up 2% as of Thursday afternoon.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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