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

Comcast Corporation (NASDAQ:CMCSA) early Thursday posted market-beating Q4 results, announced a stock split, raised its dividend, and boosted its share buyback.

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:

“Our performance at Comcast Cable was exceptionally strong. 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. NBCUniversal also had a terrific year, fueled by the tremendous success of the Olympics, the opening of new attractions at our theme parks, and strong theatrical performances, particularly in animation.”

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 POWR Rating of A (Strong Buy), and is ranked #1 of 12 stocks in the Entertainment – TV & Internet Providers category.

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