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Comcast Lifts Dividend, Buyback After Q4 Results Top Estimates; Stock Will Split 2-for-1

The Philadelphia-based media giant reported Q4 EPS of $0.89, which was $0.02 better than the Wall Street consensus estimate of $0.87. Revenues rose 9.2% from last year to $21.02 billion, also topping analysts' view of $20.67 billion.

Comcast said that Cable Communications revenue gained 7.1% from last year, while operating cash flow in that unit rose 6.4%. CMCSA saw cable customer net additions of 80,000 in the quarter, along with 385,000 high speed internet customers.

NBCUniversal revenue rose 13.0%, while operating cash flow in that unit increased 14.0%.

Comcast also declared a 2-for-1 stock split, which will take place on February 17, 2017, and boosted its quarterly dividend by 15% to $0.315 per share on a pre-split basis. Finally, it boosted its share buyback plan to a whopping $12.0 Billion, with $5.0 billion expected to be repurchased in 2017 alone.

The company commented via press release:

Comcast Corporation shares rose $0.16 (+0.22%) in premarket trading Thursday. Year-to-date, CMCSA has gained 7.53%, versus a 2.66% rise in the benchmark S&P 500 index during the same period.

CMCSA currently has a StockNews.com POWR Rating of A (Strong Buy) , and is ranked #1 of 12 stocks in the Entertainment - TV & Internet Providers category.

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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