Comcast Corporation (NASDAQ:CMCSA, ETR:CTP2) on Thursday reported estimate-topping fourth quarter and full year financial results sending its shares more than 4% higher.
The telecommunications and media conglomerate reported 4Q revenue of $31.25 billion, ahead of estimates of $30.41 billion.
Adjusted earnings per share of $0.84 were ahead of estimates of $0.80.
The strong performance of the company’s streaming and theme park businesses more than offset broadband subscriber losses.
Peacock added 3 million subscribers in 4Q with revenue increasing 57% to surpass $1 billion for the first time.
"For the third consecutive year, we generated the highest revenue, adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) and adjusted EPS in our company's history,” Comcast CEO Brian Roberts commented.
For the full year, revenue of $121.57 billion topped estimates of $120.73 billion while adjusted EPS of $3.98 was $0.05 ahead of expectations of $3.93.
Comcast shares gained 4.1% at US$45.60 shortly before noon on Thursday.