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    Comcast Beats Q4 Earnings, Boosts Dividend and Buyback Amid Customer Losses

    Comcast Beats Q4 Earnings, Boosts Dividend and Buyback Amid Customer Losses

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    Comcast Corp. reported its fourth-quarter earnings for 2024, surpassing Wall Street's expectations with an adjusted earnings per share of $0.96 against an estimated $0.86, and revenue of $31.92 billion, up 2% year-over-year, compared to an estimated $31.62 billion. The company's media revenue, including its TV networks, increased by 3.5% to $7.22 billion. Despite the earnings beat, Comcast experienced a loss of 139,000 domestic broadband customers and 311,000 cable TV customers during the quarter, with a total loss of 1.58 million video customers over the past 12 months. Comcast's streaming service, Peacock, reported a quarterly revenue of $1.32 billion, up 28% year-over-year but slightly below the expected $1.36 billion, and a narrowed loss of $372 million from a year-ago loss of $825 million. Peacock's full-year loss narrowed by nearly $1 billion to $2.75 billion, with full-year revenue reaching $4.9 billion. The streamer had its best month in August, driven by the Paris Summer Olympics, and implemented price increases for new and existing subscribers. Comcast also announced an increase in its annual dividend to $1.32 per share from $0.31 per share and expanded its share buyback program by $15 billion. The company highlighted its best financial performance in its 60-year history, with its Studios unit ranking #2 in worldwide box office, driven by successes like 'Wicked'. Additionally, Comcast unveiled a spinoff plan for most of its cable networks into a separate entity.

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