Tuesday, February 2, 2010

Comcast Grows 3.9% in 2009, Targets Project xfinity for 2010

Comcast's Q4 2009 revenue increased 2.9% to $9.1 billion and operating cash flow increased 1.1% to $3.4 billion, reflecting continued growth in its Cable division, partially offset by higher expenses in Programming and Corporate costs. Fourth quarter 2009 Operating Income increased 3.4% to $1.8 billion.

Revenue increased 3.9% in 2009 to $35.8 billion, while Operating Cash Flow increased 4.4% to $13.7 billion and Operating Income increased 7.2% to $7.2 billion.

"In 2009, we continued to invest in our products and services and in growth opportunities like Comcast Business Services. We also made real progress deploying All-Digital and Wideband, and launched innovative products like Comcast High-Speed 2go, our 4G wireless broadband service, and On Demand Online. We believe these initiatives and our focus on delivering the best consumer experience further improves our competitive position now and in the future," stated Brian L. Roberts, Chairman and CEO of Comcast.

Some highlights:

  • As of December 31, 2009, Comcast's video, high-speed Internet and voice customers totaled 47.1 million, reflecting 1.5 million net additions during 2009.

  • The company expects CAPEX in 2010 to be less than 2009 both in dollars and as a percentage of revenue.

  • Goals for 2010 include to complete the all-digital transition, complete the wideband DOCSIS 3.0 upgrade and launch Project Xfinity.

  • As of the end of 2009, the all-digital migration was about 35% complete. This will recapture about 50 analog channels.

  • Project xfinity will offer 100+ HD channels, 50-70 foreign language channels, 20,000 VOD choices, 19,000 On-Demand online programs, 100 Mbps Internet speeds and new convergence features.

See also