Comcast profit up on better video, Web subscribers

By Staff Reporter
Reuters US Online Report Business News

Feb 15, 2012 07:17 EST

(Reuters) - Comcast Corp <CMCSA.O> posted a rise in quarterly profit on Wednesday, driven by better-than-expected video and Internet subscriber additions.

Fourth-quarter net income rose to $1.29 billion, or 47 cents a share, from $1.02 billion, or 36 cents a share, a year earlier.

Revenue rose 3 percent to $15 billion.

The leading U.S. cable TV provider, which controls broadcaster NBC Universal, raised its dividend by 44 percent to 65 cents a year and announced a new share buyback program of $6.5 billion.

(Reporting by Yinka Adegoke in New York; Editing by Lisa Von Ahn)

Source: Reuters US Online Report Business News