News

Comcast misses 4Q profit forecasts

PHILADELPHIA – PHILADELPHIA (AP) _ Comcast Corp. (CMCSA) on Wednesday reported fourth-quarter net income of $1.97 billion.

On a per-share basis, the Philadelphia-based company said it had profit of 79 cents. Earnings, adjusted for non-recurring costs, were 81 cents per share.

The results missed Wall Street expectations. The average estimate of 19 analysts surveyed by Zacks Investment Research was for earnings of 82 cents per share.

The cable provider posted revenue of $19.25 billion in the period, topping Street forecasts. Twenty analysts surveyed by Zacks expected $18.79 billion.

Comcast shares have decreased slightly more than 3 per cent since the beginning of the year, while the Standard & Poor’s 500 index has declined nearly 7 per cent. The stock has risen slightly more than 1 per cent in the last 12 months.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CMCSA at http://www.zacks.com/ap/CMCSA

_____

Keywords: Comcast, Earnings Report, Priority Earnings