Comcast Q4 Beats Street: Peacock Hits 31 Million Subs, $1B In Revenue; Stock Up As Company Boosts Dividend
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deadline.comComcast saw fourth-quarter net income of close to $3.3 billion as revenue passing $31 billion, up, respectively, 7.8% and 2.3%, with the numbers beating Wall Street forecasts.
Peacock hit some milestones, studio profit surged and theme parks continue strong. Free cash flow was $1.7 billion vs $1.3 billion.
The media giant lost video and broadband customers, but added wireless subscribers. The stock is up 2.4% in pre-market trading as the company boosted its dividend and announced a big $15 billion stock repurchase program.
Peacock added 3 million subscribers from Q3 to hit 31 million subs – up nearly 50% from the year earlier. Streaming revenue rose 57% year-on-year to pass $1 billion.
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