Comcast rakes in the dough; Continues to poach voice customers

Summary:Comcast reported stronger than expected profits as more customers transitioned to digital cable and the voice and Internet services that often ride shotgun.In the second quarter (statement), Comcast reported earnings of $967 million, or 33 cents a share, on revenue of $8.

Comcast reported stronger than expected profits as more customers transitioned to digital cable and the voice and Internet services that often ride shotgun.

In the second quarter (statement), Comcast reported earnings of $967 million, or 33 cents a share, on revenue of $8.94 billion, up 4.5 percent from a year ago. A year ago, Comcast reported net income of $632 million, or 21 cents a share. Wall Street was expecting earnings of 26 cents a share on revenue of $8.86 billion.

Like Verizon and AT&T, Comcast has managed the economic downturn well. Comcast ended the second quarter 46.2 million total customers. Here's a snapshot of the customer trends. As you can see, Comcast is gobbling up voice customers yet losing video customers.

Some of the more notable charts:

And Comcast is talking more about its wireless initiatives.

Topics: Banking, Enterprise Software

About

Larry Dignan is Editor in Chief of ZDNet and SmartPlanet as well as Editorial Director of ZDNet's sister site TechRepublic. He was most recently Executive Editor of News and Blogs at ZDNet. Prior to that he was executive news editor at eWeek and news editor at Baseline. He also served as the East Coast news editor and finance editor at CN... Full Bio

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