Comcast Reports Third Quarter 2008 Results

PHILADELPHIA — Comcast Corporation (NASDAQ: CMCSA, CMCSK) today reported results for the quarter ended September 30, 2008.

Video

“¢ Basic video subscribers declined 147,000 or 0.6% sequentially during the third quarter.
“¢ Added 417,000 digital cable subscribers during the third quarter – 69% or 16.8 million video subscribers have digital service.
“¢ 7.3 million or 44% of digital cable subscribers have advanced services such as digital video recorders (DVR) and/or high-definition television service (HDTV).

Video revenue increased 4% to $4.7 billion in the third quarter of 2008 from $4.5 billion in 2007. The revenue increase reflects price increases for video services and growth in digital video customers, offset in part by an increasing number of customers in bundles and promotional offers, as well as a decline in basic video customers.

Basic video subscribers decreased by 147,000 to 24.4 million during the third quarter, including an estimated loss of 15,000 subscribers due to the hurricanes, compared to a 56,000 subscriber decline in the third quarter of 2007. Year to date through September 30, 2008, basic subscribers decreased 342,000, reflecting a more challenging competitive and economic environment.

Comcast added 417,000 digital cable customers in the third quarter of 2008, compared to 503,000 in the same period one year ago. Year to date through September 30, 2008, Comcast added 1.2 million digital cable customers. PPV revenue increased 9% in the third quarter and for the first nine months of 2008.

                                              3Q08     2Q08     3Q07
                                            -------- -------- --------
      Video
      Homes Passed (000's)                   50,329   50,096   49,457
      Basic Subscribers (000's)              24,406   24,553   24,848
      Basic Penetration                        48.5%    49.0%    50.2%
      Quarterly Net Basic Subscriber
       Additions (000's)                       (147)    (138)     (56)

      Digital Subscribers (000's)            16,752   16,335   14,991
      Digital Penetration                      68.6%    66.5%    60.3%
      Quarterly Net Digital Subscriber
       Additions (000's)                        417      320      503
      Digital Set-Top Boxes                  27,060   26,345   24,117

      Monthly Average Video Revenue per
       Basic Subscriber                      $63.74   $63.98   $60.54

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