Comcast's first quarter: Signs of stabilization, improvement
Amid signs of a stabilizing economy, Comcast's first quarter results improved as the cable giant topped Wall Street expectations and added 1 million subscribers for various services, notably phone and Internet access.
Comcast CEO Brian Roberts said the company was seeing a rebound in advertising, improvement in business services---something also noted by Verizon and AT&T---and the ability to grab more voice customers.
Roberts also said that the company has largely deployed its digital and DOCSIS 3.0 technology to its network. Comcast also added that its capital spending will be lower in 2010 relative to 2009.
Comcast reported first quarter net income of $866 million, or 31 cents a share, better than earnings of $772 million a year ago (statement). Comcast's earnings topped estimates by a penny a share. The cable giant reported first quarter revenue of $9.2 billion, up 3.8 percent from a year ago.
The company indicated that the NBC Universal purchase is on track to close by the end of the year.
Here's a look at a few key slides from Comcast's earnings conference call.
The revenue breakdown:
The subscriber tally:
The investment plan:
