Cable media giant Comcast once again exceeded quarterly analyst estimates thanks to strong growth across its wireless, business services and broadband segments.
For its fourth quarter, Comcast reported non-GAAP net income of $3.1 billion, or 66 cents a share, on revenue of $30.3 billion. Excluding items, Comcast reported earnings of 77 cents a share, up from 56 cents a share a year earlier, according to the company's earnings announcement.
Although non-GAAP earnings-per-share for the fourth quarter were down 9.6% from last year, Philadelphia-based Comcast beat Wall Street estimates on its adjusted earnings-per-share, by four cents. Analysts had expected 4Q net income of 73 cents a share on revenue of $29.6 billion.
Comcast has several business units, but among the fastest growing units for fourth quarter 2021 was its wireless business which grew to $709 million, up 40.3% from the same period last year. Business services for fourth quarter was $2.3 billion, up 11.5% from fourth quarter 2020. Broadband revenue was reported at $5.9 billion, up 8.5% from the previous year's fourth quarter. Comcast reported fourth quarter advertising revenue of $818 million, down 12.5% from the same period last year.
The following is a rundown of the results of Comcast's customer base for the fourth quarter and full year 2021: