Comcast Corp. on Thursday reported fourth-quarter profit of $2.17 billion. On a per-share basis, the Philadelphia-based company said it had profit of 60 cents. Earnings, adjusted for one-time gains and costs, came to 84 cents per share. The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 75 cents per share.

The cable provider posted revenue of $32.31 billion in the period, which also beat Street forecasts. Seven analysts surveyed by Zacks expected $32.14 billion.

Citizens exceeds Q4 forecasts

Citizens Financial Services Inc. on Thursday reported net income of $10.5 million in its fourth quarter. The Mansfield, Pennsylvania-based bank said it had earnings of $2.18 per share.

The bank posted revenue of $44.5 million in the period. Its revenue net of interest expense was $29.6 million, exceeding Street forecasts. For the year, the company reported profit of $36.6 million, or $7.62 per share. Revenue was reported as $112.3 million.

Former CEO, brother indicted for fraud

Patrick James, the former CEO of bankrupt auto parts supplier First Brands Group, was indicted on federal fraud charges and arrested Thursday in Ohio with his brother Edward, a former senior executive with the company, the government said.

The indictment from the U.S. Attorney’s Office in the Southern District of New York said the James brothers “perpetrated a yearslong fraud” to obtains billions of dollars for First Brands — and millions for themselves — by duping investors and banks with fake documents and false financial reports. In its September bankruptcy filing, First Brands said it had more than $9 billion in debt and only $12 million in cash.

Apple’s iPhone sales surge to quarterly high

Apple’s iPhone sales soared to a new quarterly record during the holiday season, despite artificial intelligence blunders that prompted the technology trendsetter to get a helping hand from Google. The October-December results announced Thursday reflect the allegiance of Apple’s fans, who eagerly snapped up the latest iPhone 17 models even though the company still hasn’t delivered on its 2024 promise to smarten up the device’s Siri assistance with an AI infusion.

Even without all the latest in AI, Apple’s iPhone sales surged 23% from the prior year to $85.3 billion — the most for any three-month period ever. Apple’s shares edged up slightly after the numbers came out.

Starbucks sees room to expand within US

Starbucks says it plans to open hundreds of new stores across the U.S. and add seating at thousands of existing locations. The company detailed its plans during an investor presentation in New York on Thursday. Executives say they expect up to 175 new U.S. Starbucks cafes to open this year and around 400 in 2028.

The company’s plans include smaller-format stores that are cheaper to build but still offer seating, drive-thru service, and mobile order pickup. CEO Brian Niccol has focused on making Starbucks stores more welcoming even as consumer demand for drive-thru coffee grows. He says Starbucks sees an opportunity to build at least 5,000 new cafes across the U.S.