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Comcast 2Q profit soars 53 pct on higher revenue

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[August 06, 2009]  PHILADELPHIA (AP) -- 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.

[Associated Press]

Copyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.



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