Comcast Q3 net profit up 22%

5 Nov 2009

US cableco Comcast has reported a 22% year-on-year rise in third quarter net profit, up to USD944 million in 2009 from USD771 million a year earlier, boosted by investment gains and lower tax rates. Revenues for the three months ended 30 September 2009 grew from USD8.55 billion in Q308 to USD8.8 billion. While operating expenses grew from USD3.35 billion to USD3.49 billion year-on-year, a 100% jump in investment income, up to USD148 million, and a USD198 million decline in income tax have enabled the company to sustain its profit margin.

Comcast added 2.77 million net new revenue generating units (RGUs) to its operations in the twelve months ended 30 September 2009, ending the period with a consolidated total of 64.83 million. The firm’s broadband customer base grew from 14.75 million in the third quarter of 2008 to 15.68 million a year later. Meanwhile, there were 7.38 million subscribers to the company’s fixed line telephony services at the end of September 2009, up 20.3% year-on-year. Elsewhere a 2.7% decline in basic video subscriptions was outweighed by a 7.4% rise in digital video sales. Comcast ended Q309 with 23.78 million basic video subscribers and 18 million digital customers.

United States, Comcast Corp (Xfinity, incl. Xfinity Mobile)