Comcast stock jumps 8 percent on NBCU deal and Q4 2012 subscriber growth

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Comcast (Nasdaq: CMCSA) stock jumped 8 percent in after-market trading Tuesday after it announced a $16.7 billion deal to acquire the rest of NBCUniversal, and it reported that it picked up 503,000 net high-speed Internet, voice and video subscribers combined in the fourth quarter.

The MSO released its Q4 report a day early, after it said it would acquire General Electric's 49 percent stake in NBCU. Its stock also surged on news that it would increase its dividend by 20 percent and repurchase $2 billion in stock this year.

Comcast signed 341,000 cable modem customers and 168,000 voice customers in the fourth quarter. It lost just 7,000 basic video subscribers.

Business services continued to be its biggest area of growth, as revenue from commercial products such as Ethernet and mobile backhaul services jumped 34.2 percent to $660 million.

High-speed data revenue increased 9.2 percent to $2.4 billion, while video revenue increased 2.5 percent  to $5.04 billion and voice revenue was up 1.5 percent to $895 million.

Comcast said capital expenditures jumped by 4.5 percent to $1.4 billion in the fourth quarter, as it increased spending on advanced digital set-tops and wireless gateways. It also increased spending on business services and its new Xfinity Home security and automation product. The company reported $1.52 billion (56 cents per share) in net income, up from $1.29 billion (47 cents per share) in the fourth quarter of 2011.

USA Network, Bravo, MSNBC and other cable networks it owns generated $2.218 billion in revenue, up 3.3 percent. Increased retransmission-consent revenue from Comcast's NBC owned-and-operated stations helped it generate $1.9 billion in broadcast television revenue, up 7.9 percent compared to the fourth quarter of 2011.

Comcast stock closed at $38.47 per share on Tuesday, and opened at $41.87 Wednesday morning. The stock was trading at $40.72 at 12:50 p.m., up $1.75 per share, or 4.5 percent.

For more:
- see the earnings release
- see the NBCU-GE release
- see the dividend release
- The Philadelphia Inquirer has this story

Special Report: Cable in the fourth quarter of 2012