GO
Loading...

Comcast Quarter Profit Up on Subscribers, One-Time Gain

Reuters
Thursday, 26 Apr 2007 | 8:06 AM ET

Comcast , the leading U.S. cable operator, posted on Thursday an 80% rise in quarterly profit, fueled by subscriber growth and a one-time gain from dissolving a partnership with Time Warner Cable .

Net profit rose to $837 million, or 26 cents per share, in the first quarter, from $466 million or 15 cents per share, a year ago. The results were boosted by a $300 million gain from the dissolution of its Texas/Kansas cable system partnership with Time Warner Cable.

Without the gain, Comcast's profit was $537 million, or 17 cents per share, in line with the average Wall Street analyst forecast of $526.8 million, or 17 cents per share, according to Reuters Estimates.

Revenue in the first quarter rose 32% to $7.39 billion from $5.60 billion. Analysts had forecast revenue of $7.36 billion.

Comcast is leading the charge by cable operators to win subscribers from telephone companies by aggressively marketing bundled television, high-speed Internet and phone services.

  Price   Change %Change
CMCSA
---
TWX
---

Featured

Contact U.S. News

  • CNBC NEWSLETTERS

    Get the best of CNBC in your inbox

    › Learn More

Don't Miss

U.S. Video

  • Mad Money's Jim Cramer discusses Micron Technology and how the company gained control over inventory issues. The bears expect the company's history to repeat itself, but Cramer says this time, it feels different.

  • In this excerpt from a live CNBC interview, Warren Buffett explains why it's extremely unusual for a company's directors to vote against executive compensation plans.

  • Mad Money host Jim Cramer says shareholder activism works for every shareholder, and offers his take on the Valeant/Bill Ackman bid to acquire Allergan. The market is better off for these efforts, he says.