Comcast Reports Q1 Gains

PHILADELPHIA: On revenues that rose 3.8 percent to $9.2 billion, Comcast Corporation has reported a first-quarter net profit of $866 million, reflecting a 12-percent gain on the year-ago period.

"Our healthy operating and financial results for the first quarter mark a solid start to 2010," said Brian Roberts, chairman and CEO. "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. These are strategic initiatives that will further enhance our superior products, strengthen our competitive position and build long term value for our shareholders.”

The Comcast Cable segment saw revenues increase by 3.5 percent to $8.7 billion, with ARPU up 6.3 percent to $122.98. The division ended the period with 23.5 million video customers (a 2.6-percent reduction), of which 18.8 million are digital video subscribers; 16.3 million high-speed Internet customers (a 7-percent gain) and 7.9 million voice customers (up 16.6 percent). The combined base stands at 47.7 million, a 3.4-percent increase.

In the programming segment, revenues were up by 6.7 percent to $385 million, thanks to increased advertising and distribution revenues at Comcast’s portfolio of cable channels.