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April 28, 2010
Comcast Reports Q1 Net Income Up 12%, Positioned Strong for 2010
Cable, telephone and Internet services provider Comcast ( News - Alert)has dealt with quite a large amount of turmoil in recent months, as well as some spectacular highs and good news.
And, on a positive note, Comcast can now chalk up another doozey of good news, thanks to its increase in Internet and voice customers.
Reporting a strong first quarter 2010, the premier cable company's Chairman and CEO, Brain L. Roberts attributed the $866 million, or 31 cents a share, up 12 percent from $772 million in the year-ago quarter to by robust customer growth, a rebound in advertising, momentum in Business Services and our continued focus on expense and capital management.
Specifically, reflecting continued growth for the provider, high speed Internet was up 9 percent, Comcast Digital Voice was up 13 percent and Business Services were up a whopping 49 percent.
"We've also made significant progress in deploying All-Digital and DOCSIS 3.0, or wideband," Roberts said. "These are strategic initiatives that will further enhance our superior products, strengthen our competitive position and build long term value for our shareholders."
In addition, revenue was up 3.5 percent in the cable segment to $8.7 billion, compared to $8.4 billion year-over-year.
With these positive results, the company is well positioned for growth over the remainder of 2010.
Kelly McGuire is a TMCnet Web editor, covering CRM and workforce technologies, and anchor of its daily TMC Newsroom video broadcast. Kelly also writes about eco-friendly "green" technologies and smart grids, compiling TMCnet's weekly e-Newsletters on those topics, as well as the cable industry. To read more of Kelly's articles, please visit her columnist page.
Edited by Kelly McGuire
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