Comcast Corp (CMCSA) has reported 16.49 percent rise in profit for the quarter ended Dec. 31, 2016. The company has earned $2,296 million, or $0.95 a share in the quarter, compared with $1,971 million, or $0.79 a share for the same period last year. On the other hand, adjusted net income for the quarter stood at $2,153 million, or $0.89 a share compared with $2,021 million or $0.81 a share, a year ago. Revenue during the quarter grew 9.25 percent to $21,025 million from $19,245 million in the previous year period. Gross margin for the quarter contracted 44 basis points over the previous year period to 32.15 percent. Total expenses were 79.72 percent of quarterly revenues, up from 79.20 percent for the same period last year. That has resulted in a contraction of 51 basis points in operating margin to 20.28 percent.
Operating income for the quarter was $4,264 million, compared with $4,002 million in the previous year period.
Brian L. Roberts, chairman and chief executive officer of Comcast Corporation, said, "I look back on 2016 with pride and enthusiasm. This is a special company, with a team I am delighted to work with, executing at a high level. Were pleased to report another year of strong financial and operational results, which reflect our focus on innovation, investing in the business and putting the customer first. Our performance at Comcast Cable was exceptionally strong. We grew operating cash flow 5.6%, added 161,000 video subscribers, the best video customer results in a decade, and delivered our best high-speed Internet customer results in nine years. NBCUniversal also had a terrific year, fueled by the tremendous success of the Olympics, the opening of new attractions at our theme parks, and strong theatrical performances, particularly in animation. The consistency and strength of our results enables us to announce that we are increasing our dividend by 15% per share, we will split our stock two-for-one, the twelfth split in our companys history, and we expect to repurchase $5 billion of our stock this year. As we begin 2017, we are well positioned to continue driving growth and shareholder value as we embark on the opportunities ahead."
Operating cash flow improves marginallyComcast Corp has generated cash of $19,240 million from operating activities during the year, up 2.46 percent or $462 million, when compared with the last year. The company has spent $18,385 million cash to meet investing activities during the year as against cash outgo of $11,964 million in the last year.
Cash flow from financing activities was $151 million for the year as against cash outgo of $8,429 million in the last year period.
Cash and cash equivalents stood at $3,301 million as on Dec. 31, 2016, up 43.83 percent or $1,006 million from $2,295 million on Dec. 31, 2015.
Working capital remains negative
Working capital of Comcast Corp was negative $5,174 million on Dec. 31, 2016 compared with negative $5,875 million on Dec. 31, 2015. Current ratio was at 0.76 as on Dec. 31, 2016, up from 0.68 on Dec. 31, 2015.
Days sales outstanding were almost stable at 17 days for the quarter, when compared with the last year period.
At the same time, days payable outstanding was almost stable at 22 days for the quarter, when compared with the previous year period.
Debt moves up
Comcast Corp has witnessed an increase in total debt over the last one year. It stood at $61,046 million as on Dec. 31, 2016, up 16.01 percent or $8,425 million from $52,621 million on Dec. 31, 2015. Total debt was 33.82 percent of total assets as on Dec. 31, 2016, compared with 31.59 percent on Dec. 31, 2015. Debt to equity ratio was at 1.09 as on Dec. 31, 2016, up from 0.97 as on Dec. 31, 2015. Interest coverage ratio deteriorated to 5.64 for the quarter from 5.94 for the same period last year. Disclaimer: Please note that this is an auto-generated article. IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website. For queries contact: editor@irisindia.net