Comcast Reports Strong Gains in Q2 Results

PHILADELPHIA: With the inclusion of NBCUniversal in its financial results, Comcast Corporation reported second-quarter revenues of $14.3 billion, a 50.5-percent increase, while net profit jumped 15.6 percent to $1.02 billion.

"We generated strong operating and financial results in the second quarter across our cable and content businesses," said Brian Roberts, chairman and CEO. "In cable we saw continued improvement in customer metrics, real strength in our high-speed internet service and strong momentum in business services. With faster internet speeds, new and easier ways to access and enjoy our services and more rapid innovations, we are consistently enhancing our customers’ experience. I am also pleased with the performance of NBCUniversal, which posted double-digit revenue growth in each of its segments. We are confident that the strategic investments we continue to make at NBCUniversal and Comcast Cable are strengthening our businesses, driving profitable growth and building value for our shareholders."

NBCUniversal revenues increase 17.1 percent to $5.2 billion, with cable networks revenues up 12.6 percent to $2.2 billion and broadcast television revenues up 18.5 percent to $1.7 billion. Filmed entertainment, meanwhile, gained 21 percent to $1.25 billion.

Comcast Cable contributed revenues of $9.3 billion, 5.6 percent higher than the same period last year, driven by increases in Internet and business service revenues. ARPU was up by 8.9 percent to $137.51. Combined video, high-speed internet and voice customers increased by 99,000, an 18.2 rise compared to second quarter 2010 net additions. As of June 30, 2011, video, high-speed internet and voice customers totaled 49.1 million. The number of video customers fell from 23.2 million to 22.5 million, while the number receiving high-speed Internet rose from 16.4 million to 17.55 million, and voice customers rose from 8.1 million to 9.06 million.