Comcast Reports First Quarter 2007 Results

Comcast Triple Play powers another record-setting quarter. Most quarterly RGU additions in Comcast history – 1.8 million RGUs added – a 63% increase. Record-setting growth in new services fuels 12% growth in Cable Revenue and 14% growth in Cable Operating Cash Flow.

Philadelphia, PA — Comcast Corporation (Nasdaq: CMCSA, CMCSK) today reported results for the quarter ended March 31, 2007.

Video revenue increased 8% to $4.4 billion in the first quarter of 2007, reflecting growth in digital cable customers and increased demand for new digital features including ON DEMAND, digital video recorders (DVR) and HDTV programming (HDTV), as well as higher basic cable pricing.

Basic cable subscribers increased by 75,000 to 24.2 million during the first quarter of 2007 with 13.3 million or 55% of video customers taking digital cable services. Comcast added 644,000 digital cable customers in the first quarter of 2007, an increase of 82% from the 355,000 digital cable customers added in the same period one year ago. The digital cable customer additions in the first quarter of 2007 include 337,000 digital cable and 307,000 digital starter subscribers. During the quarter, 535,000 digital cable customers added advanced services, like DVR and HDTV, to their digital service either by upgrading or as new customers. This compares to 310,000 additions in the same quarter one year ago. Pay-per-view revenue increased 26% to $181 million in the first quarter of 2007 driven by increasing ON DEMAND movie purchases. Pay-per-view revenue has increased more than 20% on average over each of the past nine quarters.