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Earnings Report: Comcast (NASDAQ:CMCSA) Soars Premarket on Better-than-Expected Earnings Video

Shares of Comcast (NASDAQ:CMCSA) are trading 16.5% higher at $18.98 premarket Wednesday after the company reported Q4 EPS of $0.33 (including a 4-cent tax benefit), topping consensus estimates of $0.27.

Revenues for the quarter rose 2.9% year-over-year to $9.1 billion, narrowly beating consensus estimates of $8.97 billion.

Brian L. Roberts, Chairman and CEO of Comcast Corporation, said "I am pleased to report healthy operating and financial results for 2009. We are particularly proud of our accomplishments this year in light of a difficult economic environment affecting the consumer and our advertising business, as well as intensified competition. These results highlight the strength and resilience of our businesses, as well as effective execution, with a focus on profitable growth, expense control and prudent capital management. In 2009, we continued to invest in our products and services and in growth opportunities like Comcast Business Services. We also made real progress deploying All-Digital and Wideband, and launched innovative products like Comcast High-Speed 2go, our 4G wireless broadband service, and On Demand Online. We believe these initiatives and our focus on delivering the best consumer experience further improves our competitive position now and in the future."

"We are also excited about the opportunity to strengthen our position in content through the announced NBC Universal transaction, and to bring those assets together with our already-strong position in cable and broadband distribution. Our technology platform now allows for significant cross platform integration and product innovation that will help us expand the entertainment options we offer our customers.

"As we begin 2010, Comcast is well positioned to continue to execute and deliver growth with a continued focus on building value for our shareholders."

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Comments on "Earnings Report: Comcast (NASDAQ:CMCSA) Soars Premarket on Better-than-Expected Earnings"

According to ...
According to Comcast employees, the company blames no raises and life altering shift changes as a response to the terrible economy. It looks like someone is? lying.

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