Comcast Corp. (NASDAQ: CMCSA) reported its financial results for the fiscal fourth quarter on Thursday that came in better than what analysts had anticipated. The company also expressed confidence that its share repurchase programme will resume by the end of the year. Comcast’s board approved a 9% increase in its dividend to 73 pence per share on Thursday.
Comcast shares, that you can learn to buy online here, were reported just under 2.5% up in premarket trading on Thursday. The stock is now trading at £36.78 per share after recovering from a low of £23.75 per share in the first week of April 2020.
Comcast’s Q4 financial results versus analysts’ estimates
Comcast said that its net income in the fourth quarter printed at £2.48 billion that translates to 53.47 pence per share. In the same quarter last year, its net income was capped at a lower £2.31 billion or 49.80 pence per share. Comcast had reported better than expected results in the prior quarter (Q3) as well.
On an adjusted basis, the telecommunications conglomerate earned 41.02 pence per share versus the year-ago figure of 57.86 pence per share. In terms of revenue, Comcast reported £20.30 billion in the recent quarter as compared to £20.80 billion last year.
According to FactSet, experts had forecast the company to record £19.62 billion of revenue in Q4. Their estimate for per-share earnings stood at a lower 35.16 pence. In separate news, Samsung said on Thursday that its operating profit in Q4 jumped 26%.
Comcast’s revenues from individual business segments
Comcast said that it generated £11.51 billion of revenue from its cable business versus £11.26 billion expected. The U.S. firm had registered £10.82
