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Wednesday, 3 February 2010 - Comcast profit up on Internet, phone subscribers |
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    Edition: U.S. Article Comments (1) Save Email Print Reprints Most Popular Most Shared Truckloads of snow dumped on melting Vancouver mountain 02 Feb 2010 Dutch court will hear case against far-right MP 7:38am EST Sandra Bullock poised for first Oscar 02 Feb 2010 China's new foreign policy takes shape -- in Moldova 02 Feb 2010 China warns against Obama-Dalai Lama meeting 3:04am EST Truckloads of snow dumped on melting Vancouver mountain 02 Feb 2010 Dutch court will hear case against far-right MP 7:38am EST U.S. researchers find new clue to infant deaths 02 Feb 2010 China's new foreign policy takes shape -- in Moldova 02 Feb 2010 Doctor casts new light on cat that can predict death 02 Feb 2010 Comcast profit up on Internet, phone subscribers NEW YORK Wed Feb 3, 2010 9:23am EST Related News UPDATE 2-MarketAxess Q4 tops Street view, shares up 10:11am EST UPDATE 1-ITT Corp profit up, raises full-year forecast 7:17am EST UPDATE 2-News Corp profit up on ad recovery, Avatar Tue, Feb 2 2010 UPDATE 3-AMSC Q3 tops Street; shares fall as outlook disappoints Tue, Feb 2 2010 Honeywell sets low quarterly forecast, shares fall Fri, Jan 29 2010 NEW YORK (Reuters) - Comcast Corp, the No. 1 U.S. cable operator, reported a higher-than-expected quarterly profit on Wednesday as it added more Internet and phone subscribers. Technology  |  Hot Stocks  |  Media 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 one-time benefits in the current quarter, Comcast posted a profit of 29 cents a share, compared with 25 cents a share a year ago after adjusting for one-time charges. Analysts had been expecting an average adjusted profit of 27 cents according to Thomson Reuters I/B/E/S. Revenue rose 2.9 percent to $9.07 billion, compared to the average Wall Street estimate of 8.97 billion. 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. "The results were pretty much in line with expectations," said Mitchell. "They are good enough numbers that the stock should breath a sigh of relief." Senior management at Comcast spent much of the fourth quarter striking a deal to buy a 51 percent controlling stake in NBC Universal from General Electric Co. An agreement was announced on Dec 3 and the deal is now going through a regulatory process with U.S. agencies which may last a year. Kaufman's Mitchell said subscriber growth for cable companies like Comcast and Time Warner Cable Inc are beginning to slow down and investors are now beginning to focus on return of capital through share buybacks and dividend payments. "With Comcast, though, so much of the their future capital is tied up in this NBC transaction, it's a case of the tail wagging the dog," he said. Its shares were up 1 cents to $16.30 in premarket trading. (Reporting by Yinka Adegoke; Editing by Derek Caney) Technology Hot Stocks Media Comments See All Comments (1)  |  Post Comment Feb 03, 2010 They lack a good repore with potential customers. In a rural area wanted to switch to them and drop land line and Dish but the Comcast representative knew nothing and made NO ATTEMPT to be helpful or promote business for them. NOTIZIA33 Report As Abusive       See All Comments (1)     Add a Comment More from Reuters Pace of private sector job losses slows NEW YORK (Reuters) - The pace of job losses in the private sector slowed in January as employers reported the smallest payroll decline in nearly two years, while the dominant services sector grew slightly, data showed on Wednesday. Honda ups outlook but worries about Toyota recall Time Warner profit tops estimates, dividend raised Petraeus says strike on Iran could spark nationalism Pay czar says AIG bonus flap to end in March AOL posts profit, but subscribers dwindle » More Top News Thomson Reuters live online forum: Live Now: Rebuilding Wall St. What are the employment trends on Wall Street and how can you best position yourself? Ask our expert panel and join the live discussion.  Live Coverage  U.S. Markets Felix Salmon: Volcker's dangerous loopholes The Volcker rule is a good idea, but it's been diluted to the point where it will do very little good. And that's a shame.  Full Article  Volcker urges curbs on risky trades Big banks aren't bad banks ... are they? Ten U.S. fund managers seek holy grail Regulation © Copyright 2010 Thomson Reuters Editorial Editions: Africa Arabic Argentina Brazil Canada China France Germany India Italy Japan Latin America Mexico Russia Spain United Kingdom United States Reuters Contact Us Advertise With Us Help Journalism Handbook Archive Site Index Video Index   Analyst Research Mobile Newsletters RSS Podcasts Widgets Your View Labs Thomson Reuters Copyright Disclaimer Privacy Professional Products Professional Products Support Financial Products About Thomson Reuters Careers Online Products Acquisitions Monthly Buyouts.com Buyouts Europe: Buyouts Conferences: Venture Capital Journal EVCJ International Financing Review International Securitisation Report Project Finance International PEhub.com PE Week Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests. NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.

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