General World News

Comcast revenue beats Street as NBCUniversal, Internet units grow

The NBC logo and Comcast are displayed on 30 Rockefeller Plaza, formerly known as the GE building, in midtown Manhattan in New York July 23, 2015. REUTERS/Brendan McDermid

By Malathi Nayak

NEW YORK (Reuters) – Comcast Corp posted better-than-expected fourth-quarter revenue on Wednesday, driven by growth in its media and entertainment unit NBCUniversal in addition to its high-speed Internet and business services divisions.

The largest U.S. cable operator and the No. 1 U.S. high-speed Internet provider also raised its annual dividend by 10 percent to $1.10 per share. It earmarked $5 billion in stock buybacks for 2016 as part of a $10 billion program.

Total revenue at Philadelphia-based Comcast rose 8.5 percent to $19.25 billion in the fourth quarter, surpassing analysts’ expectations of $18.76 billion, according to Thomson Reuters I/B/E/S.

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Source : BusinessInsider.Com