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Comcast shares fall despite earnings beat

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'I think there is a bifurcation in the market.' Comcast CEO Brian Roberts discusses the company's pivot to streaming and the launch of streaming service Peacock. He says the cable and broadband business powered Q4.

Comcast CEO Brian Roberts announced the company is increasing its dividend by 10% to 92 cents per share on an annualized basis for 2020.Here are the results compared with analyst expectations:Revenue:442,000 net adds vs. 378,000 net adds expected, according to FactSet estimates

The company reported a net drop in video customers of 149,000 for the fourth quarter, which was higher than the expected loss of 139,000 and worse than what it reported a year earlier, when it reported a net loss of 29,000 video customers. Theatrical revenue for NBCUniversal slumped 21% from a year earlier. The company blamed the decline on the disappointing performance of "Cats," which had aat the box office in December. Comcast also cited the strength of film releases in the prior year's fourth quarter, including "The Grinch" and "Halloween."

 

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