Steve Mehs
03-04-03, 04:16 AM
Comcast, the nation's largest cable operator, reported fourth quarter results last week that impressed most on Wall Street, but left some wondering what the numbers could mean for satellite TV.
Comcast reported a consolidated net loss of $51 million for the fourth quarter, compared to a net loss of $321 million for fourth quarter 2001. Comcast also said it added 389,400 digital cable subscribers in the quarter, finishing 2002 with more than 6.6 million. The company took its broadband subscriber count to 3.6 million.
Comcast, which acquired AT&T Broadband last year, serves more than 21 million customers.
As for satellite/cable TV competition, Lehman Brothers satellite TV analyst William Kidd said some observers are already interpreting the results as a satellite TV negative, especially for EchoStar since the company typically targets cable customers. However, "We think it's way to early to start to conclude something ominous for DBS, based solely on these figures," Kidd said.
On the 2003 guidance side, Comcast said it expects to add between 1.3 million and 1.4 million new high-speed Internet customers, finishing the year with approximately 5 million. The MSO also said it expects to add between 950,000 and 1 million new digital cable subscribers, finishing 2002 with at least 7.5 million.
In addition, Comcast said it will work to stop losses in its AT&T Broadband systems, and maintain a stable subscriber base that's expected to end 2003 at 21.3 million.
From SkyReport (http://www.skyreport.com/skyreport/mar2003/030403.shtm#four) (Used with Permission)
Comcast reported a consolidated net loss of $51 million for the fourth quarter, compared to a net loss of $321 million for fourth quarter 2001. Comcast also said it added 389,400 digital cable subscribers in the quarter, finishing 2002 with more than 6.6 million. The company took its broadband subscriber count to 3.6 million.
Comcast, which acquired AT&T Broadband last year, serves more than 21 million customers.
As for satellite/cable TV competition, Lehman Brothers satellite TV analyst William Kidd said some observers are already interpreting the results as a satellite TV negative, especially for EchoStar since the company typically targets cable customers. However, "We think it's way to early to start to conclude something ominous for DBS, based solely on these figures," Kidd said.
On the 2003 guidance side, Comcast said it expects to add between 1.3 million and 1.4 million new high-speed Internet customers, finishing the year with approximately 5 million. The MSO also said it expects to add between 950,000 and 1 million new digital cable subscribers, finishing 2002 with at least 7.5 million.
In addition, Comcast said it will work to stop losses in its AT&T Broadband systems, and maintain a stable subscriber base that's expected to end 2003 at 21.3 million.
From SkyReport (http://www.skyreport.com/skyreport/mar2003/030403.shtm#four) (Used with Permission)