Comcast Delivers Profit, Revenue Gains in Q4

PHILADELPHIA, February 14:
For the fourth quarter of 2007, Comcast Corporation’s revenues grew 14 percent
to $8 billion, while net profit jumped 54 percent to $602 million.

For the full year,
meanwhile, revenues gained 24 percent to $30.9 billion, but profit was up just
2 percent to $2.6 billion.

Brian L. Roberts, the chairman and CEO of Comcast Corporation, noted, "In 2007 we
delivered very healthy growth in revenue and operating cash flow, added
substantial revenue-generating units and generated significant earnings
growth—despite a weak economy and intensified competition in the second
half of the year. Our goal continues to be to deliver consistent, profitable
growth that builds long-term shareholder value. For 2008, we are confident
about our competitive position and our ability to further grow our business, as
illustrated by our outlook for 2008 free cash-flow growth of at least 20
percent.”

At the cable segment,
revenues for the year increased 11 percent to $29.4 billion.

Revenue-generating units
on a net basis increased 19 percent, to end the year with 57 million. Video
revenues gained 7 percent to $17.7 billion, led by advanced services; 42
percent of digital-cable customers signed up for advanced services like DVRs
and HD. Basic-cable subs fell by 180,000 to reach 24.1 million, of which 63
percent take digital services. Comcast also added 1.7 million high-speed
Internet subscribers, down from the 1.9 million added in the year-ago period.
High-speed Internet revenue increased 18 percent to $6.4 billion in 2007. The
platform ended 2007 with 13.2 million high-speed Internet subscribers, or
27-percent penetration of homes passed. The Comcast Digital Voice phone service
added 2.5 million customers, and phone revenue increased 85 percent to $1.8
billion. Comcast ended 2007 with a total of 4.4 million CDV customers.

At the Programming
segment—which includes E! Entertainment Television, Style Network, The
Golf Channel, VERSUS, G4, and other emerging networks—revenues gained 25
percent to $1.3 billion.

—By Mansha Daswani