Comcast, the largest and among the most popular mass media companies in the world let alone the United States of America, has reported profits of US$1.93 billion for the fourth quarter of the last year. The prices of shares of Comcast landed at 74 cents per share. This represents a steady growth of 2 cents in prices of shares when compared to the year before last, when share prices had ended at 72 cents per share. Profit figures for the fourth quarter of 2013 had ended up at US$1.92 billion, just 0.02 billion lower than last year’s figures. To boot, the figure for adjusted profit per share grew to 77 cents per share for the last quarter of 2014. This represents an increase of 16.7%. Total revenue figures of Comcast also made a corresponding jump, landing at US$17.73 billion, representing a rise at the rate of 4.8%.
Despite a reduction in the number of video customer additions and severe advertizing weakness faced by cable networks, profits saw an increase thanks largely to the boom in Comcast’s broadband and business services divisions. The profit for the fourth quarter rose by 0.6%.
Comcast stated its intentions to increase its share dividend by 11% on an annualized basis. This would boost the price of the share to US$1 per share. Comcast also plans to expand its stock repurchase program to US$10 billion. US$4.25 billion worth of Comcast shares would be bought back by the mass media giant in 2015. This decision has been taken with no contingency condition related to Comcast’s acquisition of Time Warner Cable Inc., worth US$45 billion.
The falling numbers of new video customers is on the brink of becoming a crisis, with numbers dropping from 46,000 in the last quarter of 2013 to 6,000 in Q4 last year.