Comcast (NASDAQ: CMCSA) on Wednesday reported fourth-quarter earnings and revenue that exceeded expectations but fell short on net additions of high speed internet customers.
Earnings registered 64 cents per share adjusted vs. 62 cents per share expected in an analyst survey. Revenue was $27.846 billion vs. $27.553 billion expected.
The company boasted 351,000 added high-speed internet customers vs. 360,000 net adds expected.
For 2018, Comcast reported revenue of $94.51 billion, marking 11.1% growth from the previous year.
Comcast noted in its earnings report that the dip in its earnings per share for the full year 2018 compared to the year prior was due in large part to $12.7 billion of net income tax benefits factored into the fourth quarter of 2017. Excluding the tax benefit and other adjustments in 2017 and 2018, Comcast reported that its EPS increased 25.6 percent to $2.55 per share for the full year compared to the year prior.
Comcast reported revenue for NBCUniversal, the parent company of CNBC and NBC, at $9.40 billion for the quarter, a 7.1% increase compared to the same quarter last year. The NBCUniversal segment includes broadcast and cable channels as well as theme parks and film studios.
The company said while its filmed entertainment revenue increased 14% to $1.98 billion this quarter compared to the fourth quarter 2017, it was offset by lower content licensing and home entertainment revenue. Comcast said content licensing revenue decreased 8.8% due to the timing of content availability under licensing agreements.
Shares added $1.85, or 5.3%, to $36.82
