Good quarter for Comcast

Comcast’s third-quarter revenue and cash flow both climbed more than 50%, leading to a 32% cut in losses.

Results at the nation’s fourth-largest MSO were slowed a bit by new rate regulation.

That has led Comcast to finding other revenue generators, such as cellular communications.

For the quarter, Comcast lost $ 35.7 million, or 25 cents a share, compared to a loss of $ 52.3 million, or 39 cents a share, in the same period a year ago. Revenue was $ 335.4 million, up from $ 221.2 million and operating cash flow was $ 154.3 million, up from $ 98.5 million.

For the first nine months, Comcast lost $ 819.4 million, or $ 5.78 a share, compared to a loss of $ 129.3 million, or 96 cents a share, in the like period a year ago. The recent nine-month figures are skewed by a $ 742,000 accounting change charged against earnings.

Revenue for the first nine months was $ 1 billion, up from $ 639.1 million and operating cash flow was $ 460.2 million, up from $ 282.9 million.

Mary L. Kukowski, a First Boston analyst, said the results came in as expected. For the fourth quarter, she expects the company’s cash flow to drop off because of the new cable reregulation law.

Want to read more articles like this one? SUBSCRIBE TO VARIETY TODAY.
Post A Comment 0

Leave a Reply

No Comments

Comments are moderated. They may be edited for clarity and reprinting in whole or in part in Variety publications.

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More Biz News from Variety

Loading