Comcast (CMCSA) reported second-quarter results that edged past Wall Street's expectations, in part on the strength of the cable operator's strong programming and cable results, the company announced Wednesday. In addition, Comcast said it would issue a dividend of 0.0945 cents a share to investors holding the stock as of Oct. 6. The dividend would be payable Oct. 27.
"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. We are very focused on profitable growth. At the same time, we continue to make significant progress deploying All-Digital and DOCSIS 3.0 to enhance our superior products, strengthen our competitive position and build long term value for our shareholders," Brian Roberts, Comcast CEO, said in a statement.
In reporting its earnings, the cable company reported revenues of $9.5 billion in the second quarter, up 6.1% over a year ago. Comcast's net income, meanwhile, fell 6.1% to $884 million, or 31 cents a share, due to its NBC Universal transaction costs. Excluding the NBC Universal deal costs, Comcast would have reported earnings of 33 cents. Wall street had been expecting 32 cents, according to Thomson Reuters.
Comcast Earnings Beat Estimates, Declares Quarterly Dividend