Comcast Beats The Street, Stock Is Cruising Higher

Comcast just delivered strong earnings, beating EPS estimates by $0.03, and announcing plans to up its annual dividend by 19% to $0.45 per share. 

The stock is ticking up slightly on the news, continuing the upward momentum it’s seen since the market bottomed out around February 2009. It’s just a few great days away from its record price.

In its earnings release, Comcast said its cable segment generated $9.2 billion. It also says it added 1.3 million customers who ordered its combines video, high-speed internet, and voice packages. (It lost video customers in every quarter on a year over year basis.)

Regardless of the loss of customers, it seems safe to say the cable industry isn’t dead yet, not by a long shot. And Google TV, Boxee, and all the others have a ways to go before they truly disrupt the cable giants.


Photo: Comcast


Photo: Comcast

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