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Comcast trousers $4bn

By Iain Thomson, 27 Apr 2016

Comcast has announced a $4bn profit for the first quarter of 2016, up 5.1 per cent on this time last year.

The company announced revenues of $18.8bn for the quarter, up 5.3 per cent, and earnings per share of 87 cents. The company paid a dividend of $611m and repurchased 22 million of its common shares for $1.2bn to prop up the price.

"I'm incredibly pleased with our first quarter results and the strength and momentum we are seeing across our businesses," said CEO Brian Roberts. "We delivered our best first quarter Internet results in four years and our best first quarter video results in nine years – adding 53,000 video customers."

The average monthly bill for its cable customers is now $146, the company reported, and its high-speed internet business grew 7.6 per cent to $3.3bn and the company predicted further strong growth in this area. ®

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