Comcast Reports 3rd Quarter 2011 Results

Wednesday, November 2nd, 2011
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Increased Digital penetration to 91%; Increased HD and/or DVR customers by 126K to 10.6MM, now 53% of Digital customers

PHILADELPHIA — Comcast Corporation (NASDAQ: CMCSA, CMCSK) today reported results for the quarter ended September 30, 2011.

Customers

In the third quarter, combined video, high-speed internet and voice customers increased by 229,000, a 13.4% increase compared to third quarter 2010 net additions. For the nine months ended September 30, 2011, combined video, high-speed internet and voice customers increased by 966,000, a 10.4% increase compared to net additions in the first nine months of 2010. As of September 30, 2011, video, high-speed internet and voice customers totaled 49.4 million, an increase of 1.4 million or 2.9% in the past twelve months. 

(in thousands)         Customers                        Net Adds
                  --------------  ------------------------------
                    3Q10    3Q11    3Q10    3Q11   YTD10   YTD11 
                  ------  ------  ------  ------  ------  ------
Video Customers   22,937  22,360   (275)   (165)   (622)   (443)
                                                                  2010                    2011
                                --------------------------------------  ----------------------
                                    1Q      2Q      3Q      4Q      FY      1Q      2Q      3Q
                                ------  ------  ------  ------  ------  ------  ------  ------
Video
 Customers                      23,477  23,212  22,937  22,802  22,802  22,763  22,525  22,360
 Penetration of Homes
  and Businesses Passed(1)       45.7%   45.0%   44.3%   43.9%   43.9%   43.7%   43.1%   42.7%
 Net Additions (Losses)           (82)   (265)   (275)   (135)   (757)    (39)   (238)   (165)
Digital Video
 Customers(2)                   18,843  19,237  19,456  19,740  19,740  20,040  20,114  20,255
 Penetration of Total Video      80.3%   82.9%   84.8%   86.6%   86.6%   88.0%   89.3%   90.6%
Advanced Services
 Customers(3)                    9,511   9,665   9,892  10,120  10,120  10,377  10,509  10,635
 Penetration of Digital Video    50.5%   50.2%   50.8%   51.3%   51.3%   51.8%   52.2%   52.5%

1) Penetration is calculated by dividing the number of customers by the number of homes and businesses passed. The number of customers includes our small and medium-sized business customers.
2) Digital Video Customers include customers receiving digital signals through any means, including cable cards and digital transport adapters (“DTAs”).
3) Advanced Services Customers subscribe to DVR and/or HDTV services.