Comcast 1Q profit up 6 percent on new customers
(AP) -- The nation's largest cable TV provider is reporting a 6 percent jump in first-quarter earnings.
Comcast Corp. said it signed up throngs of new customers for its digital cable, phone and high-speed Internet services.
The Philadelphia-based company earned $772 million, or 27 cents per share, in the quarter. That beat the expectations of analysts polled by Thomson Reuters, who were expecting 23 cents per share.
Revenue rose by 5 percent to $8.84 billion, also ahead of analyst forecasts for $8.76 billion.
Comcast said cost-conscious consumers pulled back somewhat on pay-per-view purchases and watched more free video on demand in the quarter. But Comcast says there weren't big cancellations of premium channels such as HBO or Showtime.
漏2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
