EARNINGS ROUNDUP / COMCAST
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Comcast Corp., the nation’s largest cable TV provider, said its fourth-quarter earnings fell 32%, hampered by a $600-million write-down of its investment in wireless technology provider Clearwire Corp.
Comcast’s revenue and adjusted earnings beat Wall Street estimates, and the Philadelphia company raised its dividend 8%.
However, Comcast showed markedly slower growth in its video, high-speed Internet and phone businesses.
Comcast earned $412 million, or 14 cents a share, compared with $602 million, or 20 cents, a year earlier.
Excluding items such as the Clearwire charge, Comcast earned 27 cents a share, up 7 cents from the same quarter last year.
Analysts polled by Thomson Reuters had expected an adjusted profit of 22 cents a share. Comcast’s revenue rose 9% to $8.77 billion, beating analyst forecasts of $8.64 billion.
Comcast shares fell 53 cents, or 4.1%, to $12.36.
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