US cableco Comcast has reported its figures for the three months ending 30 September 2007. Profit stood at USD560 million, down 54% from the USD1.22 billion earned in the same period last year. This was on the back of rising revenues; turnover was USD7.78 billion, compared to USD6.43 billion a year ago. The decline in profit reflects the one-off USD669 million gain included in 3Q2006 results related to Comcast’s purchase of Adelphia’s cable assets and a swap of cable systems with Time Warner Cable. Excluding these gains, Comcast would have seen profits climb 2% from USD548 million in adjusted earnings.
489,000 new digital video revenue generating units (RGU) were added in the quarter to take the total to 14.7 million, while ‘basic’ i.e. non-digital TV subscriptions fell by 65,000. Comcast attracted 450,000 new broadband RGUs, to total 12.9 million at the end of September. 662,000 digital voice RGUs were added, but 138,000 circuit-switched telephony subscribers were lost, leaving totals of 3.8 million and 304,000 respectively. In total, an additional 1.4 million RGUs were gained in the quarter, a rate of growth 6.7% slower than a year ago.