Comcast losses fall, revs climb

Comcast Corp. posted a net loss of $ 17.1 million (12 cents per share) for the second quarter ended June 30. That compares to a net loss of $ 40.3 million (30 cents) in the same period last year.

Revenues at the nation’s fifth-largest cable operator were up substantially in the quarter, climbing 53.8% to $ 340 million from $ 221.3 million.

The company said revenues and operating cash flow reached record highs in the second quarter.

The results include the consolidation of the Metrophone cellular properties since March 5, 1992, and the company’s 50% ownership of Storer Communications Inc. since Dec. 2, 1992.

Comcast said that as a result of the federal rate regulation of basic cable TV services, which goes into effect Sept. 1, the company will be required to reduce rates charged for regulated basic services in many of its cable TV systems, and said future rate increases are likely to be smaller than in the past.

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