Raised Video Pricing Helps Comcast1 May, 2008 By: Erik Gruenwedel
Spurred by a 5% increase in video revenue (due largely to price hikes), Comcast Corp. posted a 10% surge in first quarter (which ended March 31) consolidated revenue to $8.3 billion, compared to revenue of $7.3 billion during the same period last year.
The Philadelphia-based cable operator said video revenue, which also featured increased demand for VOD, digital video recorder (DVR) and high-def programming, topped $4.7 billion, compared to $4.5 billion last year.
The company reported net income of $732 million, down 12.5% from $837 million last year.
Comcast said income would have risen nearly 10% if not for one-time gains related to the dissolution of unspecified cable partnerships.