Thursday, 3 November 2011

Internet Customers and Advertising Sales Bolster Comcast’s Profits - New York Times

Comcast, the country’s largest cable operator, reported $14.3 billion in revenue in the quarter that ended Sept. 30, a 51 percent increase over the same period last year. Net income rose 4.7 percent to $908 million and operating income rose 35 percent to $2.6 billion, driven by 261,000 new high-speed Internet subscribers. The company reported earnings of 33 cents a share.

The company said 165,000 customers cut their pay television service, a 40 percent improvement from the 275,000 customers Comcast lost in the third quarter of 2010. Comcast executives said the numbers were proof that viewers were not “cord cutting” and watching television entirely online.

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