August 6th, 2009
Comcast rakes in the dough; Continues to poach voice customers
Comcast reported stronger than expected profits as more customers transitioned to digital cable and the voice and Internet services that often ride shotgun.
In the second quarter (statement), Comcast reported earnings of $967 million, or 33 cents a share, on revenue of $8.94 billion, up 4.5 percent from a year ago. A year ago, Comcast reported net income of $632 million, or 21 cents a share. Wall Street was expecting earnings of 26 cents a share on revenue of $8.86 billion.
Like Verizon and AT&T, Comcast has managed the economic downturn well. Comcast ended the second quarter 46.2 million total customers. Here’s a snapshot of the customer trends. As you can see, Comcast is gobbling up voice customers yet losing video customers.
Some of the more notable charts:
And Comcast is talking more about its wireless initiatives.
Larry Dignan is Editor in Chief of ZDNet and Editorial Director of ZDNet sister site TechRepublic. See his full profile and disclosure of his industry affiliations.
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