Comcast Beats Estimates, Announces Dividend (CMCSA)

Philadelphia, Pennsylvania based Comcast Corporation (Nasdaq: CMCSA) announced on Wednesday morning that it beat consensus Wall Street estimates.

Comcast Corporation (CMCSA) reported that its 2nd quarter net income fell to $884 million, or 31 cents per share, down from $967 million, or 33 cents per share, a year earlier.

Excluding special items, the company's earnings came in at 33 cents per share.

Revenue increased 6.1% to $9.52 billion, up from $8.98 billion a year earlier.

According to a survey of analysts by Thomson Reuters, the average Wall Street estimate called for earnings of 32 cents per share, on revenue of $9.29 billion.

Chairman and chief executive officer Brian L. Roberts said, “We delivered healthy operating and financial results in the second quarter, reflecting overall customer growth, double-digit increases in high-speed internet and voice revenue, an improving advertising market and continued momentum in Business Services."

The company also announced a quarterly dividend of $0.0945 per share to be paid on October 27.

Comcast Corporation closed the previous trading session at $19.33 per share. Analysts covering the company's stock give it a consensus price target of $21.85 per share.

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