Comcast posted better-than-expected fourth-quarter revenue on Wednesday, driven by growth in its media and entertainment unit NBCUniversal in addition to its high-speed Internet and business services divisions.
The largest U.S. cable operator and the No. 1 U.S. high-speed Internet provider also raised its annual dividend by 10 percent to $1.10 per share. It earmarked $5 billion in stock buybacks for 2016 as part of a $10 billion program.
Share prices were up slightly in premarket trading Wednesday. (Click here for the latest price.)
Total revenue at Philadelphia-based Comcast, whose holdings include CNBC, rose 8.5 percent to $19.25 billion in the fourth quarter, surpassing analysts' expectations of $18.76 billion, according to Thomson Reuters.
Net income attributable to the company rose 2.4 percent to $2 billion, or 79 cents per share, from a year earlier. Excluding items such as gains on sales and acquisition-related items, profit rose 5.2 percent to 81 cents per share, a penny below estimates.
The company added 89,000 video subscribers, much better than a year earlier, when it picked up about 6,000 new subscribers.