Comcast Corp. reports Q1 net loss - New Mexico Business Weekly:

awipekyhila.blogspot.com
Excluding its acquisition of in November, net income for the quartert wasdown $297 million, or 13 cents per compared with a decline of $89 million, or nine centas per share, in the company's net income durinyg the same period of 2002. The cable company's revenues for the quarter exceeded $5.5 2 billion, compared with $2.67 billion during the same time last Company officials said although Comcast recorded a lowe r net income forthe quarter, subscriber numbersw are up.
"We saw a dramaticx turnaround in basic cablesubscriberd growth," said John Alchin, co-chief financial officer, executive vice president and treasure r of Comcast, during the company's May 8 conference "We are confident that we can add basic subscriberxs this year." Comcast added 56,000 basic cablse subscribers during the quarter, while for the same period last it lost 139,000 basicf cable customers. Its Digital Cable subscriberxstotal 6.7 million, reflectiny a 23 percent increase year-to-year.
The company addex 417,000 new high-speed Internet access customersa during the first quarterof 2003, bringinyg that subscriber base to a total of 4 Company officials are projecting that base to grow to 5.2 million by the end of this year. In New York-based AT&T (NYSE: T) agreexd to sell its broadband service to Comcast forabout $45.7 billion in plus the assumption of nearly $25 billionm in debt and liabilities. "Theu are executing their merger much better than I analyst David Joyceof Miami-based brokeragd firm Guzman & Co.
"Comcastt put [its] nose to the grindstone and actuallty added customers inthe quarter, which means they are gettinbg competitive with the satellite networik providers." Philadelphia-based Comcast Corp. develops, manages and operates broadband cable networks. The company currently has 21 milliohnsubscribers nationwide. Comcast Cable has more than 250,000 subscribers in New Mexicol and employs 547people