Tuesday, April 27, 2010

Comcast's Revenue Rises 3.8%, CAPEX Declines 20%

Comcast's overall revenue for Q1 2010 increased 3.8% to $9.2 billion, while Operating Cash Flow increased 3.5% to $3.6 billion. Earnings per Share (EPS) was $0.31, a 14.8% increase from the $0.27 reported in the first quarter of 2009.

Capital Expenditures for the first quarter of 2010 declined 20.3% to $925 million, or 10.1% of total revenue, reflecting timing of equipment purchases and improved pricing, partially offset by growth in Comcast Business Services and advanced services (HD and DVR), as well as the ongoing deployment of wideband and All-Digital.

"Our healthy operating and financial results for the first quarter mark a solid start to 2010. First quarter results were driven by robust customer growth, a rebound in advertising, momentum in Business Services and our continued focus on expense and capital management. We've also made significant progress in deploying All-Digital and DOCSIS 3.0, or wideband," stated Brian L. Roberts, Chairman and Chief Executive Officer of Comcast.

Some highlights for the quarter:

  • The company lost 82,000 video customers in the quarter, giving it a total of 23,477,000 -- down 2.6% YoY.

  • The company added 399,000 High-Speed Internet Customers in Q1, giving it a total of 16,329,000 at the end of the quarter -- up 7% YoY

  • The company added 273,000 Digital Voice customers in Q1, giving it a total of 7,895,000 -- up 16.6% YoY.


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