socialmedian: Comcast Profits Rise 22 Percent, Beating Estimates; Ad Decline Slows In Q3

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Comcast Profits Rise 22 Percent, Beating Estimates; Ad Decline Slows In Q3

Source: paidContent.org

Nov 04, 2009

Summary

A combination of cost savings and an increase of both the number of subscribers and monthly bill rates pushed Comcast (NSDQ: CMCSA) past analysts expectations. Profits rose 22 percent to $944 million as revenue was up 3 percent to $8.802 billion, the latter just missing analysts’ estimates. So far, Comcast didn’t have much to say on speculation about an imminent purchase of a majority stake in NBC Universal (NYSE: GE), but that’s likely to come up during the earnings call. Aside from that, it wasn’t all good news for Comcast, as ad revenue fell 16 percent. Still, on the bright side, the declines could be slowing, suggesting a possible recovery, as in Q2, the company posted a 20 percent drop in marketers’ dollars.

Earnings release | Webcast (8:30 AM EDT)

3Q 2009
3Q 2008
Estimate

EPS
$0.33
$0.26
$0.25

Net Income
$944M
$771M

Revenue
$8.80B
$8.54B
$8.85B

Following through on an aggressive set of promotions, Comcast subs accepted higher while buying new services. The Philadelphia cable operator’s average

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