Comcast (CMCSA -0.17%) sailed into the end of the week on the tailwind of its fourth-quarter 2020 results.
Those figures show that the big media company earned nearly $27.71 billion in revenue for the period. That was down by slightly over 2% on a year-over-year basis, but topped the average analyst estimate by almost $1 billion.
On the bottom line, non-GAAP (adjusted) net income suffered a steeper fall, tumbling almost 29% to a shade below $2.62 billion, or $0.56 per share. Still, this exceeded prognosticator expectations, which were for $0.48 per share.
Many components of the multifaceted entertainment company's business improved over that one-year stretch. Comcast described the performance of its considerable cable properties as "outstanding," while pointing out that two of its Universal theme parks in Japan and Florida shed their red ink by reaching breakeven. In terms of providing internet service, Comcast saw around 538,000 net additions for its broadband offerings.
Signaling confidence in these results and its proximate future, the company declared a dividend raise. The new quarterly payout will be $0.25 per share, up nearly 9% from the preceding $0.23. This enhanced amount yields 2% at the most recent closing share price. The upcoming dividend is to be handed out on April 28 to investors of record as of April 7.
Comcast's shares got a bump from the release on Thursday. However, despite the improvements and the sweetened payout, Comcast shares closed Friday 3.9% lower, a steeper fall than the S&P 500's 1.9% decline on the day.