Comcast 2Q profit up 8 percent but misses Street view

[July 30, 2008]  PHILADELPHIA (AP) -- Comcast says its second-quarter profit rose 8 percent as cable TV rates rose and consumers ordered more digital and premium services.

But that was still shy of Wall Street's forecast. The second quarter is traditionally slower for the company because snowbirds and students disconnect their cable for the summer.

Philadelphia-based Comcast Corp. posted second-quarter net income of $632 million, or 21 cents per share, compared with $588 million, or 19 cents per share, in the quarter a year earlier.

Revenue rose 11 percent to $8.55 billion.

Analysts polled by Thomson Financial were expecting, on average, slightly higher profit of 23 cents per share on revenue of $8.54 billion.

[Associated Press; By DEBORAH YAO]

Copyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.