Comcast Reports First Quarter 2008 Results

Thursday, May 1st, 2008
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PHILADELPHIA — Comcast Corporation (Nasdaq: CMCSA, CMCSK) today reported results for the quarter ended March 31, 2008.

Video

  • Basic video subscribers declined 57,000 or 0.2% during the first quarter
  • Added 494,000 digital cable subscribers during the first quarter — 65% or 16.0 million video subscribers have digital service compared to 55% or 13.7 million one year ago
  • 6.9 million or 43% of digital cable subscribers have advanced services such as digital video recorders (DVR) and/or high-definition television service (HDTV) compared to 5.2 million or 38% one year ago

Video revenue increased 5% to $4.7 billion in the first quarter of 2008 from $4.5 billion in 2007. The revenue increase reflects price increases for basic and digital video services, growth in digital video customers, and increased demand for digital features including ON DEMAND, DVR and HDTV, offset in part by an increasing number of customers in promotional offers.

Comcast added 494,000 digital cable customers in the first quarter of 2008 including 310,000 full digital cable and 184,000 digital starter subscribers. During the quarter, 450,000 digital cable customers added advanced services, like DVR and HDTV, to their digital service either by upgrading or as new customers. As of March 31, 2008, 43% or 6.9 million of our digital cable customers receive advanced services, 33% or 5.3 million receive full digital cable, and 24% or 3.8 million are digital starter subscribers.

VIDEO                                                 1Q08     4Q07     1Q07
                                                    ------   ------   ------
Homes Passed (000's)                                49,902   49,701   48,977
Basic Subscribers (000's)                           24,691   24,748   25,005
Basic Penetration                                    49.5%    49.8%    51.1%
Quarterly Net Basic Subscriber Additions (000's)      (57)    (100)       83
Digital Subscribers (000's)                         16,015   15,521   13,665
Digital Penetration                                  64.9%    62.7%    54.6%
Quarterly Net Digital Subscriber Additions (000's)     494      530      658
Digital Set-Top Boxes                               25,856   24,957   21,121

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