On the eve of congressional hearings regarding its blockbuster acquisition of NBC Universal, Comcast said on Wednesday that it more than doubled its earnings during the fourth quarter of 2009.
Comcast generated a profit of $955 million, or 33 cents per share, during the fourth quarter, up from $412 million during the fourth quarter of 2008. For the year, Comcast pulled in $3.64 billion, or $1.26 per share, up from $2.55 billion the previous year. Revenues were up 3.9 percent to $35.76 billion.
The strong results were driven by growth of its high-speed internet and digital voice services, which helped offset declines in video customers and advertising revenue.
The Philadelphia-based company also said that it will rebrand its cable, TV and Internet services “Xfinity,” while retaining the Comcast parent name.
"We are beginning to reposition the company with the consumer,” Comcast chief Brian Roberts said during a conference call Wednesday.
Roberts confirmed that Comcast’s integration with NBCU – as first reported by TheWrap – is under way.
Both Roberts and NBCU chief Jeff Zucker are due in Washington on Thursday to meet with lawmakers as they seek approval of the $30 billion merger announced late last year.
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