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August 5, 2009

Comcast reports increase in Q2 revenue

Operating income increases 7.1% to $1.9 billion

By CBR Staff Writer

Comcast, a provider of information and communications products and services, has reported revenue of $8.9 billion for the second quarter of 2009, an increase of 4.5%, compared to $8.5 billion in the same quarter of the previous year.

For the quarter, operating income increased 7.1% to $1.9 billion, compared to $1.7 billion in the same quarter of 2008.

Earnings per Share (EPS) for the second quarter was $0.33, up 57.1% compared to $0.21 reported in the same quarter of 2008. The quarter’s results include favourable settlements related to federal and state taxes.

Brian Roberts, chairman and chief executive officer of Comcast, said: “We delivered solid results in the second quarter, highlighting the strength of our subscription businesses and our continued focus on expense and capital management.

“At the same time, we are innovating and investing in our products and services and executing on our strategic initiatives, including going ‘All-Digital’, deploying wideband, and launching a wireless service and On Demand Online.”

As of June 30, 2009, Comcast’s video, high-speed Internet and voice customers totalled 46.2m, an increase of 3.7% compared to the second quarter of 2008.

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