Forum Views ()
Forum Replies ()
Read more with google mobile :
Comcast profit up on Internet, phone subscribers
Yahoo!
My Yahoo!
Mail
More Yahoo! Services
Account Options
New User? Sign Up
Sign In
Help
Yahoo! Search
web search
Home
Singapore
Asia Pacific
World
Business
Entertainment
Sports
Technology
Comcast profit up on Internet, phone subscribers
Reuters - Thursday, February 4
Send
IM Story
Print
By Yinka Adegoke
NEW YORK - Comcast Corp posted a higher-than-expected quarterly profit as it added Internet and phone subscribers, but its margins were hit by marketing costs as the No. 1 U.S. cable operator fends off competition from phone and satellite companies.
The cable company, whose senior management spent much of the fourth quarter negotiating a deal to buy a 51-percent stake in NBC Universal from General Electric Co, said on Wednesday it changed its strategic focus midway through 2009 to "proactively pursue market share."
"That translates to lower price increases for customers and greater promotional spending," said Collins Stewart analyst Thomas Eagan. "That's why the fourth-quarter customer numbers were better than people expected but some of the financials were worse."
Comcast's fourth-quarter net profit rose to $955 million, or 33 cents a share, from $412 million, or 14 cents a share, a year earlier.
After adjusting for a tax benefit, profit was 29 cents a share. Revenue rose 2.9 percent to $9.07 billion.
Analysts had been expecting profit of 27 cents and revenue of 8.97 billion, according to Thomson Reuters I/B/E/S.
Comcast's EBITDA margin narrowed by 0.3 percentage point to 40.6 percent, but analysts were expecting an increase. Bernstein's Craig Moffett had forecast 41.4 percent.
Comcast, whose shares dipped 0.8 percent, did not give a detailed financial outlook but said capital investments will fall in 2010, even as it expands new services like faster Internet access and all-digital TV.
"I like the fact they continue to stress that capex will come down and continue returning cash," said Thomas Villalta, of Jones Villalta Funds, which owns Comcast shares. "But there was nothing overly impressive or overly negative about the results."
The company also introduced a new brand, "Xfinity," for its video, high-speed Internet and digital phone services. The company has previously used the brand for its online on-demand services.
The brand will start initially in 11 Comcast markets where it has launched all-digital and super-fast Web services.
The strategy is similar to one used by New York-based Cablevision Systems Corp, which uses the Optimum brand for its cable services.
Comcast Chief Executive Brian Roberts said the company will focus on associating the new brand with improved customer service and more choices.
The Philadelphia-based cable company added a net 247,000 high-speed Internet customers and 243,000 digital phone subscribers in the fourth quarter. Kaufman Bros analyst Todd Mitchell had forecast 194,000 new Internet subscribers and 296,000 new phone customers.
Comcast lost more than 199,000 basic video subscribers during the quarter. Mitchell had expected Comcast to lose 151,000 video customers.
He said subscriber growth for cable companies like Comcast and Time Warner Cable Inc are beginning to slow down and investors are now focusing on return of capital through share buybacks and dividend payments.
Comcast shares fell 13 cents to $16.16 in morning trading.
Recommend
Send
IM Story
Print
Related Articles
Italian developer takes down iMussolini application from store AFP - Thursday, February 4
Indian mobiles fall silent over tower dispute AFP - Thursday, February 4
Nokia says it has more than one million navigation clients AFP - Thursday, February 4
Hynix executive, others, held over alleged Samsung theft AFP - Thursday, February 4
US-TECH Summary Reuters - Thursday, February 4
News Search
Top Stories
Scientists 'grow' edible insects in Costa Rica
Jackson doctor 'ready to surrender to police'
US debt to hit ceiling by end February: Treasury
Gunslinger reflex helps save lives: UK research
EU backs Greek debt efforts
More Top Stories »
Related Full Coverage
Internet Portals & Search EnginesLatest development in the online world
All Full Coverage »
ADVERTISEMENT
Most Popular
Most Viewed
Most Recommended
Low serotonin linked to infants' sudden cot death: study
Healthy adults need less sleep as they age: study
Germany decides to buy Swiss tax-dodger data
Content is 'electronic emperor' says Murdoch
Lancet formally retracts 1998 paper linking vaccine and autism
More Most Viewed »
Scientists praise Obama as Doomsday clock reset
More Most Recommended »
Elsewhere on Yahoo!
Financial news on Yahoo! Finance
Stars and latest movies
Best travel destinations
More on Yahoo! News
Home
Singapore
Asia Pacific
World
Business
Entertainment
Sports
Technology
Subscribe to our news feeds
Top StoriesMy Yahoo!RSS
» More news feeds | What are news feeds?
Also on Yahoo
Answers
Groups
Mail
Messenger
Mobile
Travel
Finance
Movies
Sports
Games
» All Yahoo! Services
Site Highlights
Singapore
Full Coverage
Most Popular
Asia Entertainment
Photos
Copyright © 2010 Yahoo! Southeast Asia Pte. Ltd. (Co. Reg. No. 199700735D). All Rights Reserved.
Terms of Service |
Privacy Policy |
Community |
Intellectual Property Rights Policy |
Help
Other News on Thursday, 4 February 2010 Italy's prime minister links Gaza war to Holocaust
EU places Greece under tough budget scrutiny
Italian developer takes down iMussolini application from store
Scientists 'grow' edible insects in Costa Rica
Iran leader's nuclear comments surprise West
Egypt: 2 editors punished for dealing with Israel
Gunslinger reflex helps save lives: UK research
Iraq court delays ban on hundreds of candidates
Indian mobiles fall silent over tower dispute
West offers skeptical reaction to Iran nuke plan
Jackson doctor 'ready to surrender to police'
Nokia says it has more than one million navigation clients
Suicide attack on Shiite pilgrims kills 23 in Iraq
Hynix executive, others, held over alleged Samsung theft
Bill Clinton to coordinate Haiti aid efforts
|
US debt to hit ceiling by end February: Treasury
US-TECH Summary
Yugoslav partisan who saved Jews in Holocaust dies
Hamas hosts Fatah leader for unity talks
|
Comcast profit up on Internet, phone subscribers
Barred Iraq candidates allowed to stand: official
Iran government survival hinges on nuclear issue: Israel
|
Uproar in Brazil over huge Amazon dam plan
Hamas gives U.N. response to Gaza war crimes report
Newly independent AOL reports profit
China welcomes foreign Internet firms: minister
European states keep Swiss bank secrecy under siege
|
AOL posts profit, but subscribers dwindle
Ukraine PM cries foul days before presidential poll
|
Berlusconi in Bethlehem: Wall? What wall?
|
Hynix executive, others, held over alleged Samsung theft
Nokia says it has more than one million navigation clients
Syrian FM: US has nominated ambassador to Damascus
Asia bolsters defences as West feels pinch: IISS
A look at the 2010 Cadillac SRX
NKorean-flagged Libyan ship hijacked off Yemen: EU
Scandal-plagued Baltimore mayor says goodbye
China to beef up security in restive Xinjiang
Judge drops charges against 1 in 1975 AIM slaying
Japan political kingmaker to avoid indictment: reports
Some House Dems oppose plan for jobs tax credit
Judge dismisses suit filed by Alamo followers
Malaysian police probe PM's aide over race remarks
Oracle database can be hacked remotely: researcher
|
Prelim delayed for alleged unruly passenger in Pa.
US Senate condemns hacking of Google in China
US sees 'spike' in Vietnam human rights issues
Court: Man can't sue prosecutor over terror case
Obama to meet Dalai Lama despite Chinese warnings
Ohio teen told police he raped woman along road
Pakistan school bombing kills US soldiers, children
Marines brace for new push in southern Afghanistan
Argentina has Hollywood in its 'Eyes' after Oscar nod
Taiwan carmaker touts new luxury sedan in China
Worst movies of all time led by Clooney's "Batman"
President Hu says China must change economic model
US 'disappointed' by limits on Japan auto incentives
New Zealand virgin auctions herself for tuition
Soros: US, China key to world financial regulation
Up a favorite in quality Oscar race for animation
|
Toyota hit by over 100 Prius brake complaints
Leif Garrett arrested for heroin possession
|
Sharp swings to profit in third quarter
Asia stocks up on Wall Street rise
Executives get down and dirty in Undercover Boss
|
Sphinx-lined alley hints at wealth of Egypt's lost empires
Argentina has Hollywood in its 'Eyes' after Oscar nod
"Hair" back in Serbia after 40 years, minus nudity
Austria welcomes Oscar "hat-trick"
Jamaican scholar, choreographer dies in US at 76
UK model Katie Price weds cage-fighter boyfriend
Haiti charity single reworks REM's 'Everybody Hurts'
List of top 15 cable shows in Nielsen ratings
Worst movies of all time led by Clooney's "Batman"
Hamas wants talks with US, Europe: Haniya
Ukraine candidate accuses rival of 'swimming in mud'
Bomb in Pakistan kills 3 U.S. soldiers, 3 children
|
Google, NSA may team up over cyberattacks: report
Fury heats up after new AIG bonuses
Samsung aims to treble smartphone sales in 2010
Pakistani scientist guilty in US servicemen attacks
Inspectors 'failed to check runway' before Concorde crash
In new term, Bernanke calls for Fed to stay independent
Netezza teams up with NEC to battle Oracle
Netanyahu hopes for talks with Palestinians in weeks
New technique helps search for another Earth
Iran leader's nuclear comments surprise West
Video game makers look for 2010 turnaround
Kremlin body proposes radical makeover for Russia
Monster gobbles HotJobs for 225 million dollars
Netanyahu: Peace talks could resume in weeks
Afghans want to be farmers, not fighters, says U.S.
|
Cisco quarterly profit up 23 percent
Israel pushing Middle East to war: Syria's Assad
|
Iraq court lifts ban on hundreds of candidates
RIM device development holds promise, analyst says
Mideast peace talks will resume in 'coming weeks': Netanyahu
Oracle database can be hacked remotely: researcher
2009 videogame sales dip eight percent in Britain, Japan, US
Iran says it launches satellite rocket
Iran sends rocket with animal menagerie into space
Samsung aims to treble smartphone sales in 2010
Samsung aims to treble smartphone sales in 2010
|
Hong Kong tycoons' wealth soars: Forbes
Google, NSA may team up over cyberattacks: report
|
Lurid testimony at Anwar trial closed to public
Video game makers look for 2010 turnaround
|
Netezza teams up with NEC to battle Oracle
|
1 year on, China stays silent on missing lawyer
RIM device development holds promise, analyst says
|
N.Korea eases curbs on markets amid anger: Seoul
Obama nears end of Uighur Guantanamo nightmare
Philanthropist Evelyn Haas dies at age 92
Pa. woman convicted in pierced kittens case
Men at Work ripped off 'Kookaburra' riff: Aus court
Australia blocks Iran shipments over weapons fears: PM
Hollywood studios lose landmark Internet download battle
Gunman kills self in Ill. store, no others injured
Obama vows to get tougher on China trade
Motivational speaker charged in sweat lodge deaths
2 charged with Indonesia maid's murder in Malaysia
Prius brakes questioned; Toyota probe expands
'Bling ring' burglar says not guilty of LA thefts
Senate report: 'Dirty money' still entering US
Brown getting Kennedy's seat, but not his desk
Toyota posts $1.7B profit, raises annual forecast
Seoul shares rise on autos; banks, retailers fall
GM says China sales nearly double in January
Oscar contenders vie for underdog status
|
AA gives high flyers helicopter ride to Narita
Lady Antebellum set to crush Lil Wayne on U.S. chart
|
SKorean, US firms embroiled in chip espionage case
Who can afford Howard Stern?
|
Jay-Z sues lender over loan for NYC property
|
Lady Antebellum set to crush Lil Wayne on U.S. chart
PAKISTAN
Hollywood loses landmark copyright case in Australia
|
Report: China investing $956M with UK's Apax
Balloon flown over highest peak in the Americas
S.Korea firm wins three billion dollar Iraq deal
Seoul shares turn down on banks; autos advance
HBO renews Big Love for fifth season
|
Obama vows to get tougher on China trade
Who can afford Howard Stern?
R&B singer Jill Scott sued by record label
|
Source: Jackson's doc to be arraigned Friday
Oscar contenders vie for underdog status
Scattered Palestinian protests reflect a fractured struggle
Stewart tells O'Reilly he's voice of sanity on Fox
Israeli Oscar nominee "Ajami" admirable, but dark
HBO renews "Big Love" for fifth season
Giacometti sculpture smashes auction world record: Sotheby's
Pakistan arrests 30 suspects in U.S. forces attack
|
Ukraine's Tymoshenko street protests
US teen blogging nosedives
New scan 'reads mind' of brain-damaged patient
Discussing Iran sanctions hinders diplomacy: China
|
Foreign food aid trickles into Haiti's black market
|
Assad will lose power if Syria goes to war: Israel
Shell fourth-quarter profit dives 75%
IMF chief says may quit early; eyes French politics?
|
Israel mulls indirect talks with Palestinians
Hopes rise for N.Ireland solution as leader returns
India offers official talks with Pakistan
|
New US export strategy eyes Asia
Iraq condemns lifting candidate ban, MPs to meet
|
Exclave's 10,000-strong protest rocks Russian politics
|
Israel envisages indirect talks with Palestinians
|
New Iraqi media rules raise specter of muzzled past
|
Threat of new Orange protests raises Ukraine tension
|
Obama aunt due in court over Kenya deportation: report
Cops: NY driver used mannequin in car pool lane
Suu Kyi, brother in court over house dispute
Trump annoyed with park weddings next to golf club
NKorea eases market crackdown amid economic woes
70-year-old jailed after crashing into Nev. casino
Thai plan to return Karen to Myanmar draws protest
Stakes high for Calif. in health care reform
Lurid evidence in Malaysia opposition leader trial
Family of Pakistan scientist slam US guilty verdict
Indonesian Muslim leaders slam horror movie
Mass. certifies GOP's Brown as Kennedy successor
Security bloc considers adding Iran, Pakistan
Obama begins full day at National Prayer Breakfast
Pakistan arrests 30 suspects in U.S. forces attack
Sumo's 'bad boy' Asashoryu to retire
House faces tough vote on $1.9 trillion more debt
2 gangsters sentenced to death in China
Discussing Iran sanctions hinders diplomacy
SKorean, US firms embroiled in chip espionage case
Sony quarterly profit surges to $861 million
Pakistani o/n rates up; rupee eases; stocks higher
China launches WTO complaint against EU shoe levy
Debt-laden Dubai says new off-shore oil field found
Toyota weighs on Tokyo stocks
Hollywood loses key battle over illegal downloads
Hollywood loses landmark copyright case in Australia
HSBC to open in S.Lanka former war zone
Sony books $870mln quarterly profit
Japan's Hitachi back to profit in December quarter
China rejects Obama pressure over currency
New art auction record may not be end, say experts
|
Hollywood loses key battle over illegal downloads
T.O., Ochocinco start Super parties on South Beach
Web-based mystery romance lures indie producer
Web-based mystery romance lures indie producer
|
Sparks fly as Bollywood, cricket and politics collide
India's book restorers: saving the past for the future
Hollywood loses landmark copyright case in Australia
James Cameron hints at Avatar sequel
Greece at new risk of being pushed off euro
Bodies of missing Tenn. mom, Jo Ann Bain, and daughter found
Female Breasts Are Bigger Than Ever
AMD Trinity Accelerated Processing Units Now in Volume Production
The Avengers (2012 film), made the second biggest opening- and single-day gross of all-time
AMD to Start Production of piledriver
Ivy Bridge Quad-Core, Four-Thread Desktop CPUs
Islamists Protest Lady Gaga's Concert in Indonesia
Japan Successfully Broadcasts an 8K Signal Over the Air
ECB boosts loans to 1 trillion Euro to stop credit crunch
Egypt : Mohammed Morsi won with 52 percent
What do you call 100,000 Frenchmen with their hands up
AMD Launches AMD Embedded R-Series APU Platform
Fed Should not Ignore Emerging Market Crisis
Fed casts shadow over India, emerging markets
Why are Chinese tourists so rude? A few insights