Comcast posts 8.3 per cent jump in revenue as it adds 89,000 new video customers

 
Caitlin Morrison
Follow Caitlin
Cable Giant Comcast To Acquire Time Warner Cable
The Philadelphia-based firm is battling competition from the likes of Netflix (Source: Getty)

US media group Comcast reported an 8.5 per cent increase in revenue during the final quarter of 2015, up to $19.25bn (£13.16bn) from $17.73bn - and beating analysts' expectations of $18.76bn.

Revenue for the full year was up 8.3 per cent to $74.5bn from $68.8bn, and operating income grew 7.3 per cent from $14.9bn to $16bn.

The group acquired a 51 per cent interest in the Universal Studios theme park in Osaka, Japan last year. Comcast said fourth quarter and full-year 2015 results include $169m of revenue and $80m of operating cash flow attributable to Universal Studios Japan from its acquisition date.

Net income attributable to the company rose 2.4 per cent to $2bn, or 79 cents per share, from a year earlier.

The firm also added 89,000 video subscribers during the three months to 31 December, the most it has signed up in a quarter in eight years. In the last period of 2014, Comcast added just 6,000 new subscribers. The addition of new video subscribers will be a boon as competition from online streaming services like Netflix continues to grow.

Comcast boss Brian L. Roberts said the group was increasing the dividend by 10 per cent to $1.10 per share in a sign of confidence in the company.

"“I am exceptionally proud of our results this year, which were driven by strong performances in each of our core businesses," Roberts added.

"As we enter 2016, the momentum we see across our portfolio is truly exciting. We are executing at the highest level, investing prudently, and energised and focused on driving growth and shareholder value."

Related articles