Comcast 2nd qtr. revenues up 23%

QVC subsid rises 19% to hit $633 mil

Cabler Comcast Corp.’s second quarter revenues grew 23% to $1.5 billion, while cash flow surged 29% to $457 million.

The Philadelphia-based company also said Monday its QVC operation reported a 19% growth in second quarter revenues to $633 million, while operating cash flow was $122 million, a gain of 31%, due to improved sales in the U.S., the U.K. and Germany as well as its Internet site.

Comcast Digital Cable gained more than 200,000 customers in its first year, giving it 285,000 subscribers.

Brian Roberts, prexy of Comcast, said the favorable results were driven, in part, by its acquisition of Jones Intercable in April and the $1.5 billion breakup fee received as a result of the termination of its MediaOne merger agreement.

Shares of Comcast dropped 81¢ to close at $35.13, a loss of 2%.

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