A Bounceback Quarter for Comcast
Things looked a little rough for cable giant Comcast (CMCSA) at the end of 2008, but they seemed to have righted themselves again during the first three months of this year: The company outperformed Wall Street’s revenue and earnings expectations and signed up more subscribers than analysts had expected in at least some of its offerings.
It’s back to the old axiom: Even in the worst of times, people really, really like their TV–and now, their Internet, too.
The numbers: Earnings of 27 cents on revenue of $8.84 billion. Wall Street had expected 23 cents and $8.76 billion, respectively.
Subscribers: Basic cable: Down 78,000. Barclays Capital’s Vijay Jayant had predicted a loss of 185,000 subs.
High-speed Internet: Up 329,000, versus expectations of 225,000
Digital video: Up 288,000, versus expectations of 320,000
Phone: Up 298,000, versus expectations of 375,000
Click chart to enlarge: