Comcast (NASDAQ:CMCSA) reported fourth-quarter earnings Thursday that beat analyst estimates on the top and bottom line but missed on high-speed internet customer net additions.
Comcast said its dividend increased 8% to 27 cents per quarter and that it raised its stock buyback authorization by $10 billion.
The company warned about lower-than-expected broadband customer growth in the fourth quarter at an event last month.
NBCUniversal’s ad-supported streaming platform, Peacock, ended 2021 with 24.5 million monthly active accounts. As of July, the company said it had 54 million signups for the platform, which entered a crowded field of competitors including Netflix (NASDAQ:NFLX), Disney (NYSE:DIS) and Amazon (NASDAQ:AMZN)
On a call with analysts, Comcast CEO Brian Roberts expressed confidence in Peacock’s ad-supported plus premium tier business model and said engagement with the platform proved valuable to advertisers.
Within the 24.5 million monthly active accounts are more than nine million paid subscribers, approaching $10 in paid average revenue per user including advertising, Roberts said, noting that the company has not yet put much of a focus on paid subscriber growth.
The company said its media results included $335 million of revenue and an adjusted EBITDA loss of $559 million related to Peacock, compared with $71 million in revenue and an adjusted EBITDA loss of $254 million in the same quarter last year.
CMCSA shares fell 78 cents, or 1.6%, early Thursday to $47.68.
