Comcast, Time Warner Report Fourth Quarter Numbers

Comcast Corp. and Time Warner Inc. this week announced their fourth-quarter earnings; both companies’ profits rose.

Offering triple-play services nearly tripled Comcast Corp.’s fourth quarter profits on a 30 percent revenue, the company said Thursday. Still, the numbers fell below analysts’ expectations, according to the Associated Press and Reuters. Comcast, the nation’s largest cable operator, said it earned $390 million, or 18 cents per share, compared to $133 million, or 6 cents a share during the same quarter a year earlier. Comcast’s revenue rose almost 30 percent to $7.03 billion, up from $5.42 billion a year earlier.

Time Warner, meanwhile, saw higher profits thanks to its sale of AOL businesses in Europe, as well as the addition of digital cable and video subscribers, it said on Wednesday. The operator’s net income in the fourth quarter increased to $1.75 billion, or 44 cents per share, from $1.3 billion, or 28 cents per share, the previous year. Its revenue grew 8 percent to $12.47 billion.

Comcast’s shares were trading at $43.12 on Thursday morning, down $1.23 or 2.77 percent from Wednesday’s close.

Time Warner’s stock was down 17 cents during late morning trading on Thursday, going for $21.70, a 77 percent change from closing on Wednesday.

Comcast Corp. www.comcast.com  

Time Warner Inc. www.timewarner.com

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