Watch CBSN Live

Comcast 4Q Beats Street As Video Sub Loss Slows

PHILADELPHIA (AP) - Cable TV signal provider Comcast, the new majority owner of NBC Universal, is reporting higher fourth-quarter earnings that edged past analysts' expectations. More customers signed up for multiple services and the loss of video subscribers slowed.

Comcast Corp. said Wednesday it lost 135,000 video subscribers, fewer than some analysts expected, and finished the year with 22.8 million. There were fewer cancellations by people who signed up mainly for promotional prices in 2009.

The company reported net income of $1.02 billion, or 36 cents per share, in the three months ended Dec. 31. That's up from $955 million, or 33 cents, a year ago.

Adjusted earnings came to 35 cents per share, beating the 32 cents expected by analysts polled by FactSet.

Revenue rose 7 percent to $9.72 billion. That also beat the $9.58 billion expected by analysts.

View CBS News In
CBS News App Open
Chrome Safari Continue