Comcast Reports Jump in Business Service, Internet Service

Driven by a 10.3% increase in high-speed internet revenue and a 41.7% increase in business services revenue, Comcast's cable revenue increased 5.6% to $9.3 billion compared to $8.8 billion in the second quarter of 2010. Advertising revenue increased 3.7%, reflecting a slowdown in automotive advertising and lower political advertising in the second quarter of 2011. Monthly average total revenue per video customer increased 8.9% to $137.51, reflecting a growing number of residential customers taking multiple products, rate adjustments and a higher contribution from business services.


For the six months ended June 30, 2011, Cable revenue increased 5.7% to $18.4 billion compared to $17.4 billion in 2010.


For the six months ended June 30, 2011, Cable operating cash flow increased 7.2% to $7.6 billion compared to $7.1 billion in 2010. Year-to-date operating cash flow margin was 41.4% compared to 40.9% in 2010.


For Q@, cable capital expenditures increased 5.5% to $1.2 billion, reflecting increased investment in network infrastructure to enable product enhancements, including faster speeds in high-speed internet, as well as increased investment to support expansion in business services. Cable capital expenditures equaled 12.6% of Cable revenue in the second quarter of 2011. For the six months ended June 30, 2011, Cable capital expenditures increased 10.0% to $2.2 billion, representing 12.1% of Cable revenue.

Also in Q2, combined video, high-speed internet and voice customers increased by 99,000, an 18.2% increase compared to second quarter 2010 net additions. For the six months ended June 30, 2011, combined video, high-speed internet and voice customers increased by 737,000, a 9.5% increase compared to net additions in the first six months of 2010. As of June 30, 2011, video, high-speed internet and voice customers totaled 49.1 million, an increase of 1.4 million or 2.8% in the past twelve months.


"We generated strong operating and financial results in the second quarter across our cable and content businesses. In cable we saw continued improvement in customer metrics, real strength in our high-speed internet service and strong momentum in business services," stated Brian L. Roberts, Chairman and Chief Executive Officer of Comcast.
http://www.comcast.com