On Wednesday, Comcast Corporation (NASDAQ: CMCSA) announced its financial results for the fourth quarter of 2017 and full year ended December 31, 2017. Both earnings and revenue surpassed expectations.
For the fourth quarter, the company reported revenue of $21.9 billion, increasing 4.2% from the same period last year, beating estimates of $21.8 billion. Net income increased by $12.7 billion to $15.0 billion for the fourth quarter, and earnings per share was up by $2.69 to $3.17 per share. Adjusted earnings per share rose 8.9% to $0.49 per share, which topped analysts’ estimates of $0.47 per share.
For the full year 2017, according to the company, consolidated revenue increased 5.1% and net income increased 161%. Earnings per share for 2017 rose 167% to $4.75 per share, and adjusted earnings per share was up 18.4% to $2.06.
“I am exceptionally proud of our performance this past year, and we enter 2018 with significant momentum. In 2017, we achieved strong financial and operational results while also delivering new innovations, experiences and must-see content to people around the world,” Brian L. Roberts, Chairman and Chief Executive Officer of the company, said in the statement on Wednesday.
“Our confidence in the business enables us to announce, with the support of our Board, a 21% increase in our dividend, which is our 10th consecutive annual increase. We also expect to repurchase at least $5 billion of our stock in 2018,” Brian said.
In the statement, the company also announced that in 2017, dividends and share repurchases were in total $7.9 billion.