Earnings: Comcast HSD Up 26 Percent But Not Enough To Budge Net Income


Comcast pushed its operating income to $883 million from $686 but that wasn’t enough to move the net income off the dime — lliterally, it was 10 cents a share this quarter and last. Concast HSD brought in $1 billion in revenue in 3Q05, up 26.1 percent year over year with 20-percent penetration. The company ended the quarter with more than 8.1 milllion HSD subcs — up 437,000 net adds for the quarter.
Some analysts are getting frustrated. Fulcrum Global Partners analyst Richard Greenfield wants the the company to spend money to go all digital as fast as possible and flatten the competition. Meanwhile, Sanford Bernstein analyst Craig Moffett is frustated by the pace and results of VoIP at Comcast — “VoIP net additions were weaker than expected at 46K, and the number of VoIP-enabled homes continues to lag.”
Earnings release | Slides | Webcast

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