Comcast 2Q profit soars 53 percent on higher revenue, but subscriber growth slows
By APThursday, August 6, 2009
Comcast 2Q profit soars 53 pct on higher revenue
PHILADELPHIA — Comcast is reporting a 53 percent increase in net income for the second quarter as more customers signed up for digital cable TV, Internet and phone services.
The nation’s largest cable TV operator earned $967 million, or 33 cents per share, in the quarter. That’s up from $632 million, or 21 cents per share, in the year-ago period.
It says revenue rose by 4.5 percent to $8.94 billion.
The company beat Wall Street predictions as analysts polled by Thomson Reuters expected 26 cents per share in profit on revenue of $8.86 billion.
But subscriber growth for digital cable TV, Internet and digital voice slowed. Comcast also lost 213,800 basic video subscribers up from last year’s loss of 138,100.
