How is it that a company as large as Comcast can raise rates after getting a massive tax break?
·In 2018 Comcast brought in over 90 Billion dollars. · They spent over 6 Billion Dollars buying back 150 million shares to their own company. · Now their equipment rental and fees goes up. · This is absolute robery.
1. Consolidated Revenue for the first quarter of 2018 increased 10.7% to $22.8 billion. Consolidated Net Income Attributable to Comcast. This revenue continued to total over 90 Billion Dollars in revenue for the year of 2018.
2. Dividends and Share Repurchases. During the third quarter of 2018, Comcast paid dividends totaling $871 million and repurchased 35.6 million of its common shares for $1.3 billion . In the first nine months of 2018, Comcast repurchased 112.5 million of its common shares for $4.0 billion
·With the tax cut 60% of Comcast's savings were spent buying back shares to their own company. ·That's are tax moeny paying for the wealth and benefit of their company. ·Now, they raise rates for the consumers to bring in more income. ·You would think that as a loyal customer your rate would go down but instead after your contract is up they want around $3,000 a year for t.v. , internet, and phone.
The entire purpose of the entity is to generate revenue. This is what they do. They aren't a charity or a government entity. They exist to make $$.
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