- PHILADELPHIA: Cable TV signal provider Comcast, the new majority owner of NBC Universal, is reporting higher fourth-quarter earnings that edged past analysts’ expectations.
- More customers signed up for multiple services and the loss of video subscribers slowed.
Comcast said on Wednesday it lost 135,000 video subscribers, fewer than some analysts expected, and finished the year with 22.8 million. There were fewer cancelations by people who signed up mainly for promotional prices in 2009.
The company reported net income of $1.02 billion, or 36 cents per share, in the three months ended Dec 31. That’s up from $955 million, or 33 cents, a year ago.
Adjusted earnings came to 35 cents per share, beating the 32 cents expected by analysts polled by FactSet.
Revenue rose seven percent to $9.72 billion. That also beat the $9.58 billion expected by analysts.