Tuesday, December 4, 2007

Comcast Trims Guidance, Cites Challenging Market Conditions

Citing an increasingly challenging economic and competitive environment, Comcast trimmed its financial guidance.



Revenue Generating Units (RGUs) are now expected to increase by approximately 6 million to 57 million, versus previous guidance of approximately 6.5 million additions. This represents a significant increase compared to the 5 million RGUs added in 2006. Comcast said this RGU growth is expected to contribute to cable revenue growth for 2007 of approximately 11%, compared to previous guidance of at least 12%, cable operating cash flow growth of approximately 13% as compared to previous guidance of at least 14%, and consolidated operating cash flow growth of approximately 13% as compared to previous guidance of at least 13%.



Cable capital expenditures are expected to be approximately $6.0 billion for the year, a 5% increase from originally issued guidance, reflecting increased advanced digital set-top box purchases, the Company's digital acceleration program, expanded network enhancements and acquisition-related investments.



Reflecting the impact of all the items described above, Comcast's consolidated Free Cash Flow is expected to be approximately 80% of 2006, compared to previous estimates of 2007 consolidated Free Cash Flow of at least 90% of 2006.

http://www.comcast.com

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