Comcast revenue up, profit and TV subs down
Revenue at Comcast rose the fastest since late 2008, but costs associated with the proposed merger with NBC Universal cut into profit, and the cable giant lost 265,000 cable TV subscribers.
The US cable operator reported that quarterly sales were $9.5 billion, up 6 per cent when compared with the year-earlier quarter of $8.98 billion. Net income was $884 million, down from $967 million. Comcast reported $59 million in legal and other costs in the NBCU transaction in the current quarter and a $137 million tax benefit in the 2009 second quarter.
"We are very focused on profitable growth," chief executive officer Brian L. Roberts said in a statement, adding in a conference call that he believed the company was "striking a balance" between financial gains and pleasing customers.