Posted by: Tom Keene on February 16, 2012
The buyback is a sign the company is committed to give back to shareholders after Time Warner Cable Inc., the second-largest U.S. cable company, announced a $4 billion buyback plan last month, according to Vijay Jayant, an analyst at ISI Group in New York. Comcast said $3 billion of the new repurchase program will be made in 2012, up from $2.1 billion in last year.
Alex Sherman, Comcast Authorizes $6.5 Billion Buyback as Profit Jumps 26%, Bloomberg Businessweek,15 February 2012.
The less-than-known knowns, they are what will kill you. The ambiguity (read Douglass North) of the outcomes of your, and my, recent certitude always surprise.
We state with bombastic “fact” that cash flow will be deployed. Yet, how prepared was I, or you, or the gloom-crew from the reality of Chez Roberts success and commitment to shareholders. (See my interviews with Craig Moffett at Bloomberg Radio+ and Bloomberg TV+.)
As we approach December 2012, or for that matter April 2014, remember this day. Model, think and frame to your heart’s content.
Something changed today in American finance.
The debate over sources, and particularly uses of cash shifted like the Red Sox hopes on a Sunday afternoon in very early August.
Something happened. Comcast. Discuss.