Comcast Q4 Profit Jumps 26 Percent

PHILADELPHIA: Fourth-quarter profit at Comcast was up 26 percent from the year-ago figures, though the results at NBCUniversal declined.

Quarterly earnings were $1.29 billion, up 26.4 percent. Revenue increased 54.7 percent, to $15 billion. It’s been just a year since Comcast acquired the 51-percent stake in NBCUniversal. For the segment, revenue was relatively flat, up 0.8 percent to $5.74 billion. Operating cash flow was down 6.8 percent to $1.05 billion. Revenue for the cable networks was up 5.4 percent, while broadcast revenue dipped 3.7 percent. Filmed entertainment was also down, 1.8 percent.

Brian L. Roberts, the chairman and CEO 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 percent and have instituted a new $6.5 billion share repurchase plan, with $3 billion to be repurchased this year."