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Comcast grows quarterly earnings 30%
2013-07-31 15:17:00| Telecompaper Headlines
(Telecompaper) Comcast reported a 30 percent increase in net profit for the second quarter to USD 0.65 per share. Revenue increased 7.0 percent to USD 16.3 billion, and operating cash flow was up 8.4 percent to USD 5.4 billion. Free cash flow increased 25.4 percent to USD 1.9 billion. The company grew capex 17.1 percent to USD 1.5 billion, up mainly on new customer equipment such as digital set-top boxes and wireless routers, as well as an expansion in business services. Cable capex was at 11.9 percent of revenues, up slightly from 11.4 percent a year ago. Cable revenues rose 5.8 percent to USD 10.5 billion, driven by 26 percent growth in the business segment and expansion in broadband. Broadband net additions improved to 187,000 in the three months for a total base of just under 20 million, while TV customers fell by 158,000 to 21.8 million. Overall Comcast had 189,000 new RGUs in the period, up 37 percent from a year ago.
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Category:Telecommunications