​Comcast Earnings Exceed Expectations: A Strong Q4 Anchored by Diverse Growth Segments

Comcast Corporation, a leading telecommunications conglomerate, has reported an impressive fourth quarter for 2023, exceeding market expectations in both earnings and revenues. The company recorded Q4 earnings of $0.84 per share, surpassing the expected $0.79 per share, and achieved a 2.3% year-over-year revenue increase, totaling $31.25 billion and exceeding the forecast of $30.44 billion.

Key Growth Areas:

- Domestic broadband segment witnessed a 3.9% increase in average rate per customer, contributing to a 3.7% quarterly and 4.2% annual revenue growth.

- The domestic wireless segment saw a substantial addition of 310,000 customer lines in Q4 and a total of 1.3 million for the year, leading to a 24% increase in domestic wireless lines.

- Peacock, Comcast's streaming service, experienced significant growth, with a 50% increase in paid subscribers, reaching 31 million. The service's Q4 revenue surged by 57%, surpassing $1 billion for the first time.

Financial Performance Highlights:

- Annual net income attributable to Comcast soared by 186.5%, reaching $15.38 billion.

- Adjusted EPS for Q4 grew by 2.4% to $0.84 and by 9.3% for the year to $3.98.

- Free Cash Flow for Q4 increased by 28.5% to $1.7 billion.

Shareholder Returns and Strategic Investments:

- Comcast raised its dividend by 6.9% to $1.24 per share for 2024, marking the 16th consecutive annual increase.

- The company authorized a new $15 billion share repurchase program.

Operational Excellence and Strategic Positioning:

- Strong performance across Connectivity & Platforms businesses and Theme Parks, which reported record Adjusted EBITDA.

- Detailed review of Income Statement, Balance Sheet, and Cash Flow Statement reflects a solid financial position.

- Growth in revenue, Adjusted EBITDA, and Adjusted EPS for three consecutive years despite various challenges.

CEO Brian L. Roberts expressed confidence in the operational and financial performance, highlighting the company's excellent results in the final quarter of 2023.

In summary, Comcast's Q4 earnings report underscores the company's thriving presence in the telecommunications and media industries, fueled by strategic investments and a diverse portfolio. With its operational strengths and commitment to future growth, Comcast is well-positioned to continue its success and deliver value to its shareholders.

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