Comcast, led by chairman and CEO Brian Roberts reported lower fourth-quarter earnings for NBCUniversal. The stock also dropped 3 percent after management on the earnings conference call warned of increased pay-TV losses this year.
Film unit profit also dropped for the quarter to $91 million. While film revenue dropped 21 percent to $1.6 billion. Cable networks unit adjusted EBITDA fell 1.4 percent to $1.0 billion in the fourth quarter as well.
However, the broadcast unit for NBC Universal did see some growth as the adjusted EBITDA increased 14.2 percent to $471 million. Comcast’s cable systems unit total customer relationships also spiked by 372,000 to 31.5 million in the fourth quarter as the company added 442,000 high-speed internet subscribers.
“We delivered strong operational and financial results in the fourth quarter, capping another great year for Comcast,” Roberts said. “Our teams at cable, NBC Universal and Sky continued to execute at a high level, strengthening our leadership position in our markets.”
Roberts also disclosed a 10 percent dividend increase.
The company also hopes to strengthen its financial position by launching its streaming service Peacock in April.