Steve Mehs
10-29-02, 04:38 AM
Comcast reported gains for its digital cable and high-speed Internet services for the third quarter, and told the financial community that it's ready to complete its merger with AT&T's Broadband cable TV unit.
Said President Brian L. Roberts "As we prepare to complete the merger with AT&T Broadband in the fourth quarter, we are building from a position of strength. Each of our businesses is financially and operationally strong and we have a solid balance sheet and liquidity position to support our growth. We remain confident in the robust nature of our businesses, in our ability to achieve our near term financial goals and to build long term value based on the range of growth opportunities for the new company."
Comcast said it expects to complete its merger with AT&T Broadband next month. Comcast and AT&T had previously said they wanted to complete the deal by the end of the year.
Comcast said it added 205,400 digital cable subscribers during the third quarter, ending the period with 2.9 million subscribers for the service. The MSO also said it added 169,800 high-speed Internet subscribers during the quarter, ending with 1.3 million subscribers for that offering.
Basic subscribers at Comcast increased by only 0.7 percent over counts reported a year ago, taking Comcast's basic subscriber total to 8.5 million. The company lost 2,500 basic subscribers in the second quarter.
The company posted a net profit of $75.6 million for third quarter, compared with a year-ago third quarter loss of $106.8 million. Revenues rose 12.7 percent to $2.71 billion.
From SkyReport (http://www.skyreport.com/skyreport/oct2002/102902.shtm#four) (Used with Permission)
Said President Brian L. Roberts "As we prepare to complete the merger with AT&T Broadband in the fourth quarter, we are building from a position of strength. Each of our businesses is financially and operationally strong and we have a solid balance sheet and liquidity position to support our growth. We remain confident in the robust nature of our businesses, in our ability to achieve our near term financial goals and to build long term value based on the range of growth opportunities for the new company."
Comcast said it expects to complete its merger with AT&T Broadband next month. Comcast and AT&T had previously said they wanted to complete the deal by the end of the year.
Comcast said it added 205,400 digital cable subscribers during the third quarter, ending the period with 2.9 million subscribers for the service. The MSO also said it added 169,800 high-speed Internet subscribers during the quarter, ending with 1.3 million subscribers for that offering.
Basic subscribers at Comcast increased by only 0.7 percent over counts reported a year ago, taking Comcast's basic subscriber total to 8.5 million. The company lost 2,500 basic subscribers in the second quarter.
The company posted a net profit of $75.6 million for third quarter, compared with a year-ago third quarter loss of $106.8 million. Revenues rose 12.7 percent to $2.71 billion.
From SkyReport (http://www.skyreport.com/skyreport/oct2002/102902.shtm#four) (Used with Permission)