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Comcast misses 4Q net income expectations, tops revenue forecasts

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PHILADELPHIA — Comcast Corp. (CMCSA) on Wednesday reported fourth-quarter net income of $1.97 billion.

On a per-share basis, the Philadelphia-based company said it had profit of 79 cents. Earnings, adjusted for non-recurring costs, were 81 cents per share.

The results missed Wall Street expectations. The average estimate of 19 analysts surveyed by Zacks Investment Research was for earnings of 82 cents per share.

The cable provider posted revenue of $19.25 billion in the period, topping Street forecasts. Twenty analysts surveyed by Zacks expected $18.79 billion.

PHOTO: This Thursday, July 23, 2015, photo, shows the Comcast building sign at Rockefeller Center, in New York. Comcast reports financial earnings on Wednesday, Feb. 3, 2016. (AP Photo/Mary Altaffer)
This Thursday, July 23, 2015, photo, shows the Comcast building sign at Rockefeller Center, in New York. Comcast reports financial earnings on Wednesday, Feb. 3, 2016. (AP Photo/Mary Altaffer)

Comcast shares have decreased slightly more than 3 percent since the beginning of the year, while the Standard & Poor's 500 index has declined nearly 7 percent. The stock has risen slightly more than 1 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CMCSA at http://www.zacks.com/ap/CMCSA

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Keywords: Comcast, Earnings Report, Priority Earnings

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