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.