Comcast earnings propelled by broadband, voice subscriber gains

Comcast earnings propelled by broadband, voice subscriber gains

Summary: Comcast reported better-than-expected fourth quarter results as it continued to poach telephone customers from incumbent carriers and bolstered its high-speed Internet subscriber base.

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Comcast reported better-than-expected fourth quarter results as it continued to poach telephone customers from incumbent carriers and bolstered its high-speed Internet subscriber base.

The cable giant, which will become one of the larger media players if it closes its purchase of NBC Universal, delivered fourth quarter earnings of 33 cents a share, up from 14 cents a year ago. That sum includes a tax benefit of 4 cents a share. Wall Street was expecting earnings of 27 cents a share.

Comcast's revenue also topped expectations. The company’s fourth quarter revenue was $9.07 billion, up 3 percent from a year ago and better than the $8.96 billion Wall Street estimate.

CEO Brian Roberts said in a statement that the company's cable franchise has proven to be resilient in a rocky economy. Meanwhile, the company is investing in business services and 4G wireless service via its Clearwire partnership. Roberts said Comcast was positioned well for 2010 and outlined the following goals:

By the numbers:

  • For the year, Comcast reported earnings of $1.26 a share on revenue of $35.7 billion, up 3.9 percent from a year ago.
  • Capital spending for 2009 was $5.1 billion, down 11 percent from 2008.
  • Cable revenue was $33.9 billion for 2009, up 3.8 percent from a year ago.

  • Here's the look at the customer statistics:

Topics: Enterprise Software, Banking, Broadband, Hardware, Networking

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8 comments
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  • Profits vs. Service

    Their finances may be soaring but their service still sucks. The latest Consumer Reports ratings show them still lagging far behind their competition. 23rd out of 27 for Internet service; 19th out of 23 for phone service; 14th out of 16 for television service.
    AS long as their profits are up, they'll continue to give their customers the single finger salute.
    StageRt
  • Good Point

    StageRt is right. I am a Comcast customer and I would rate them near the bottom on TV and ISP. I refuse to use their phone service b/c of their proven poor service.
    I would buy into their competition: Satellite, Dish or Phone, but their customers hi-light issues as well. Cable needs real competition!
    Hal_9001
  • RE: Comcast earnings propelled by broadband, voice subscriber gains

    I can see this happening specifically with the NH, ME, and VT area due to Verizon selling their landlines to FairPoint. A sale that never should have been approved by the FCC or the state PUCs, but now that it was it has resulted in major outtages and extremely dissatisfied customers who have been leaving in droves to Comcast (as the only other alternative because the smaller telecoms rely on FairPoint as well). FairPoint has announced bankruptcy which is what the experts and the Unions predicted would happen if the sale went through.
    shadowagent
  • Beware of Comcast's latest devious scheme....

    Last week Comcast announced the end of analog service in our market area, and offered DTA convertors or set-top boxes at "no charge" to anyone who did not already have a box. All they needed to know was "how many TVs do you have". I asked for two convertor boxes. I haven't received the convertors yet, but I did receive a postcard telling me that they were "discontinuing multiple outlet service", and I would be charged an additional $6.95 + tax/fees going forward, for my second TV. Of course that is not going to happen...I'll be on Verizon Fios before the next statement arrives. I'll be turning in the Comcast convertor boxes unopened.
    They have finally "out scummed" Verizon, IMHO.
    Bill_SixPack
    • Re: Beware of Comcast's latest devious scheme...

      Interesting. I just subscribed to Comcast's Digital TV and wasn't informed of any such change. I even specifically asked if there was an additional charge for any other room in my home being activated and was told no.

      I was also told I could get the digital converter box now if I wanted, but the formal digital switch isn't hitting my area until next month according to the office I was at around the corner from my home.

      I thought it weird they need a digital box when I have a digital ready TV. I had it hooked up to an Analog/Digital antenna and was getting digital signals fine until recently when the transmissions seemed to get a little weaker and every time a plane flew over it disrupted the signal (of course when the formal Digital switch took place I lost many channels).

      What is also interesting is that the box they gave me to get the OnDemand service is really small compared to what my family has in MA. I asked the tech about that and he said that there are 3 types of boxes and I have the one that would be considered medium size. My family in 2 locations have one that is really large, the size of an old VCR or Laser Disc player (remember those LOL).

      I have no chance of getting Verizon FiOS since Verizon pulled out of NH. I was eligible for the FiOS service (minus the tv) for a week before the FairPoint sale was announced and Verizon stopped taking orders for new FiOS installs. FairPoint wants to offer IPTV, but we use that at work and frankly that isn't so great on the network we have. They stopped that effort apparently when they announced bankruptcy (funny because last year they were testing it in Portsmouth, NH and were handing out free LCD TVs!). Idiots.
      shadowagent
  • RE: Comcast earnings propelled by broadband, voice subscriber gains

    As once said..."very interesing tin ting"!!! Our comcast service sent me a letter and said that if I ordered up "converter boxes (2 max)" by the 12th of janurary, there would be no charge...I did... Came in the mail... Very easy to hook up and program! the picture quality is absolutely great on two 7 year old boxes!!! Also not3ed... My 65 inch DLP 1080p box kept going off and reprogramming-took it to local office and they gave me a new one which was half the size and it gave a 20-30% better picture quality on the "Hi-Def" channels. My big bitch with Comcast is the way they switch over the "free" AV service from Macafee to Norton...Put on Norton (and I should have know better) and then took me 2-1/2 hours to get rid of it.. Got AVG and what a difference.... I also got a E-Mail telling me that since my Comcast moduem was old, I could get a new one by requesting it...Here is the catch...It is installed by one of there tech's @ $35.00PH...Since I build my own systems, I think that I could maybe handle a "hook-up" ... Sleep well, time to check my VMW stock...
    puppadave
  • RE: Comcast earnings propelled by broadband, voice subscriber gains

    I have several neighbors who work for Comcrap, and they admitted that their managers (and bosses in Philadelphia) are scared of the bandwidth and 1080p TV quality. They are just spending a fortune in advertising while Verizon is spending it's money on its' stockholders.

    Now that Verizon is planning on selling our area (Seattle) and all their non-metro areas to Frontier Communications, I'm just as concerned that we'll never see FIOS.

    Despite the fact that Verizon never built DSL in my area, I canceled cable and have been using my friends 'open' wifi and getting my TV online.

    I'll be darned before I ever pay Comcrap another dime!
    NavyStore
    • Verizon sale to Frontier Communications

      You should be very afraid. I'm in NH and the sale to FairPoint has been nothing but a disaster. Zero progress and only investing in DSL. They hype they've rolled out fiber, which no one really thinks is true, but not to any homes. So what is the point? They inherited FiOS for the few areas lucky enough to get it and renamed it FAST but do not offer any expansion.
      shadowagent