Comcast, the country’s largest cable company and owners of the world’s tallest Flash-drive announced their fourth-quarter earnings this morning, and reactions are mixed.
The company beat Wall Street’s expectations by 5 cents per share when it posted a net income of $790 million, or 27 cents per share. Despite meeting or beating predictions for revenue and profit, the company’s shares are trading down this morning because of a decline in subscriber growth and the postponement of a share buyback program. Comcast lost 233,000 basic video subscribers last quarter alone, mostly due to competition from companies such as Verizon who offer competitive broadcast services.
The full fourth-quarter earnings report is available here.
Comcast beats Wall Street expectations, shares fall anyway
