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Wednesday, February 3, 2010

Comcast, TimeWarner beating Verizon, AT&T: report

"Comcast and Time Warner Cable combined to add 369,000 new broadband subscribers in Q4, up 24% from last year. By contrast, telco competitors Verizon and AT&T - including all gains from their fiber initiatives - added just 179,000 combined, down -56% from last year," writes Craig Moffett from Bernstein Research in his overview of Comcast earnings this morning. Comcast's report here.

Put another way, "Comcast and TWC combined for 65.2% of the 'Big Four' net additions, a huge leap from last year's 39.8%," Moffett added.

By contrast, Comcast's video channels posted "dismal results" , down -17% from last year's fourth quarter on higher costs. "With a yawning hole in their primetime line-up at NBC Network, one might reasonably fear that higher programming and development costs" are a sign of "things to come" as Comcast's NBCU merger advances, Moffett concludes.
Posted by Joseph N. DiStefano @ 10:03 AM  Permalink | Post a comment
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About Joseph N. DiStefano
Joseph N. DiStefano writes this blog to feed his PhillyDeals column in the Philadelphia Inquirer. Joe has been a member of Bloomberg LP’s New York Finance Team, wrote the book “Comcasted,” taught writing at St. Joseph’s University, and studied economics and history at Penn. Reach Joe at 215-854-5194 and JoeD@phillynews.com
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