Subscriber Gains Drive Revenue Growth at Comcast

PHILADELPHIA, July 27: Record subscriber growth at Comcast
Corporation contributed to an 11-percent increase in revenues to $6.2 billion
for the second quarter.

Operating income, meanwhile, was up 17 percent to $1.2
billion. Net income rose from $430 million to $460 million.

In the cable segment, revenues rose 11 percent to $5.9
billion, with revenue generating units (RGUs) up 816,000, a 61-percent
increase. Comcast ended the quarter with 43.2 million RGUs, an increase of 3.3
million units from one year ago.

The platform added 350,000 new digital subscribers in the
period, with digital penetration now up to 49 percent of basic video
subscribers. Video revenues increased 8 percent to $3.7 billion. At the end of
Q2, the platform had 10.5 million digital video subscribers, a 15-percent gain.
Comcast had 21.7 million basic cable subscribers as of June 30, 2006.
High-speed Internet subscriptions were up 305,000 and revenues rose 22 percent.
Comcast ended the second quarter with 9.3 million high-speed Internet
subscribers or 22 percent penetration of available homes. Comcast Digital Voice
added 306,000 phone customers in the period for a total of 1.7 million
customers.

In the content segment—E! Networks, The Golf Channel,
OLN, G4 and AZN Television—revenues rose 17 percent to $273 million.

Brian L. Roberts, the chairman and CEO of Comcast
Corporation, noted, "Record results for the second quarter highlight the
continued strength of our business and the power of our connection to our
customers. This terrific performance included another quarter of double-digit
revenue and operating cash flow growth and the highest level of second quarter
RGU additions in the company's history. In particular, the rapid growth of
Comcast Digital Voice demonstrates its massive appeal—and we are just
getting started. As we continue to
roll out our triple play offer, we are now more confident than ever that it
represents a meaningful engine for growth and a significant advantage over our
competition."

He continued, "Overall, these results demonstrate that
our strategy of delivering superior products and services to our customers is
working. With a strong first half
behind us, and significant momentum propelling us forward, we see our growth
accelerating and are extremely optimistic about the remainder of 2006."