Thursday, May 28, 2015

Comcast: Profits, phone, online up; cable, cap spend down

Comcast profits up on phone and Internet gains, lower capital spending.

Comcast: Profits, phone, online up; cable, cap spend down

Specialist Arthur Andrews, foreground, works at his post on the floor of the New York Stock Exchange. (AP Photo/Richard Drew)
Specialist Arthur Andrews, foreground, works at his post on the floor of the New York Stock Exchange. (AP Photo/Richard Drew)

  Comcast third-quarter sales and income rose as expected, boosting profits at Philadelphia's biggest company and brightening a largely grim corporate earnings season. Release here.

 "The $260 million drop in cable capital, along with gains in digital TV, voice and Internet subscribers, countered the loss of basic-video customers... Comcast produced `good-not-great results,' Craig Moffett, an analyst with Sanford C. Bernstein & Co. in New York, said in a research note... 

 "The company lost 147,000 of its 24.6 million basic-video customers in the quarter. It added 417,000 digital-video subscribers, 382,000 to its Internet service, and 479,000 telephone customers. " Bloomberg story here.

About this blog

PhillyDeals posts drafts, transcripts and updates of Joseph N. DiStefano's columns and stories about Philly-area business, which he's been writing since 1989.

DiStefano studied economics, history and a little engineering at Penn and taught writing at St. Joseph's. He has written thousands of columns and articles for the Inquirer, Bloomberg and other media, wrote the book Comcasted, and raised six children with his wife, who is a saint.

Reach Joseph N. at JoeD@phillynews.com, distefano251@gmail.com, 215.854.5194 or 302.652.2004.

Reach Joseph N. at JoeD@phillynews.com or 215 854 5194.

Joseph N. DiStefano