Comcast Handily Beats Wall Street’s Q4 Forecasts
Comcast topped Wall Street's fourth-quarter estimates on Thursday as revenue from the company's broadband business gave it a boost despite losing customers.
Comcast CCZ-N -1.59% surpassed fourth-quarter revenue estimates on Thursday as blockbuster holiday releases, including Wicked, more than made up for a larger-than-expected decline in broadband customers. The media and telecom giant also unveiled a $15-billion share buyback program.
In addition, Comcast announced that its Board of Directors also approved a new share repurchase program authorization, effective as of January 31, 2025, of $15 billion, which does not have an expiration date.
The newly formed Universal Television Entertainment Group will be led by Frances Berwick, Pearlena Igbokwe, Liz Jenkins and Jenny Storms
NBCUniversal parent Comcast promoted Steve Croney to a newly created role as chief operating officer of its U.S. Connectivity & Platforms segment serving over 32 million customers.
The Sports & News TV package will include major news channels like CNBC, CNN, FOX News, and MSNBC give subscribers access to live sports events.
Since 2022, the executive has overseen hits like "America’s Got Talent," "The Voice," "The Traitors" and "Love Island"
Wall Street will be paying attention to Comcast's broadband, streaming and theme park businesses, as well as progress of the spinout of its cable TV networks.
After weeks of speculation, Donna Langley — who took on the role as chairman of NBCUniversal Entertainment and Studios after a corporate shuffle in November — unveiled her executive structure on Thursday, while Matt Strauss shared his new setup as the recently named chairman of NBCUniversal Media Group.
Donna Langley and Matt Strauss have revised their leadership teams and organizational structures for the NBCU Entertainment & Studios and Media Groups, respectively.
Comcast announced on Thursday the launch of Sports & News TV, a new video package for its Xfinity internet customers, as part of its strategy to remain competitive in the streaming era.