Comcast Corp. Earnings: Revenue and Net Income Grow by Double Digits

S&P 500 (NYSE:SPY) component Comcast Corporation (NASDAQ:CMCSA) reported net income above Wall Street’s expectations for the fourth quarter. Comcast provides cable and communications services to residential and commercial customers.

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Comcast Earnings Cheat Sheet for the Fourth Quarter

Results: Net income for the company rose to $1.29 billion (47 cents per share) vs. $1.02 billion (36 cents per share) in the same quarter a year earlier. This marks a rise of 26.4% from the year earlier quarter.
Revenue: Rose 54.7% to $15.04 billion from the year earlier quarter.

Actual vs. Wall St. Expectations: Comcast Corporation beat the mean analyst estimate of 42 cents per share. Analysts were expecting revenue of $14.87 billion.

Quoting Management: Brian L. Roberts, Chairman and Chief Executive Officer of Comcast Corporation, said, “Last year was a very important year for our company. Cable continued to drive innovation, increase new product introductions and transform the customer experience, and we successfully integrated NBCUniversal. We also reported strong financial and operating results in both the fourth quarter and for the full year. Specifically, cable had another terrific quarter of improving customer metrics, demonstrating that our new XFINITY brand and our intensified focus on service and innovation are making a real difference. Our results at NBCUniversal underscore the strong performance of the cable networks and theme parks, and we continue to make progress enhancing the franchise values of its businesses. As we begin 2012, the strength of our businesses and free cash flow generation will allow us to continue to build value and consistently return capital to shareholders. To underscore our optimism, we are increasing our dividend by 44% and have instituted a new $6.5 billion share repurchase plan, with $3 billion to be repurchased this year.”

Key Stats:
Comcast has now seen net income rise in three straight quarters. In the third quarter, net income rose 4.7% and in the second quarter, the figure rose 15.6%.

Revenue has risen the past four quarters. Revenue increased 51.1% to $14.34 billion in the third quarter. The figure rose 50.5% in the second quarter from the year earlier and climbed 31.8% in the first quarter from the year-ago quarter.

Comcast topped expectations last quarter after falling short of forecasts in the third quarter with  net income of 33 cents versus a mean estimate of net income of 40 cents per share.

Looking Forward: The average estimate for the first quarter of the next fiscal year remains unchanged at 42 cents a share. For the fiscal year, the average estimate has moved down from $1.53 a share to $1.52 over the last sixty days.

(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)

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To contact the reporter on this story: Derek Hoffman at staff.writers@wallstcheatsheet.com

To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com