Improved Results for Comcast Corporation

PHILADELPHIA: Fourth-quarter revenues at Comcast Corporation were up by 2.9 percent to $9.1 billion, with profit more than doubling to $955 million.

The full-year profit, meanwhile, grew from $2.5 billion to $3.6 billion, on revenues that rose 3.9 percent to $35.8 billion.

Brian L. Roberts, chairman and CEO, referred to the operating and financial results as "healthy," noting, "We are particularly proud of our accomplishments this year in light of a difficult economic environment affecting the consumer and our advertising business, as well as intensified competition. These results highlight the strength and resilience of our businesses, as well as effective execution, with a focus on profitable growth, expense control and prudent capital management."

Commenting on the company’s deal with GE for NBC Universal, currently pending regulatory approval, Roberts commented: "We are also excited about the opportunity to strengthen our position in content through the announced NBC Universal transaction, and to bring those assets together with our already-strong position in cable and broadband distribution. Our technology platform now allows for significant cross-platform integration and product innovation that will help us expand the entertainment options we offer our customers. As we begin 2010, Comcast is well positioned to continue to execute and deliver growth with a continued focus on building value for our shareholders.”

At Comcast Cable, full-year revenues rose 3.8 percent to $33.9 billion, with ARPU up 6.4 percent to $118.2. In the quarter, there was a 2.6-percent gain in revenues to $8.6 billion. As at the end of the year, Comcast had 47.1 million total customers, reflecting a 1.5 million net addition in 2009. The year saw some erosion in its video customer base, with a reduction of 623,000 to 24.2 million. However, high-speed Internet customers increased to 15.9 million and the telephony base was up to 7.6 million.

The programming segment—consisting of the E! and Style cable networks, among others—reported a 4.9-percent revenue gain to $1.5 billion in the year and a 5.2-percent increase in the quarter to $368 million.