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Comcast tops Q4 estimates with steady growth in business, broadband services

Cable giant Comcast topped fourth quarter estimates and showed strong growth across several lines of business. 

In the fourth quarter, Comcast reported net income of $3.4 billion, or 73 cents a share, on revenue of $27.7 billion, up 2.4% from a year ago. Excluding items, Comcast reported earnings of 56 cents a share in the fourth quarter.

Wall Street was expecting Comcast to report fourth quarter earnings of 48 cents a share on revenue of $26.7 billion.

Comcast consists of several properties, but Comcast Business is among its fastest-growing segments. Comcast Business delivered revenue of $2.1 billion, up 4.8% from a year ago. Comcast’s high-speed Internet revenue was up 12.7% to $5.4 billion while video and voice sales fell. The company’s wireless business grew 35.8% to $505 million, and advertising revenue climbed 33.8%. 

Here’s a look at how the company’s customer base shakes out:

screen-shot-2021-01-28-at-9-10-54-am.png

Overall, the strength in Comcast’s business comes from the cable unit. For 2020, Comcast added 1.6 million cable customer relationships and 2 million high-speed internet net additions — the highest annual gains in these categories, ever.


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