Comcast profit up 64 pct on new digital products

[Sean Mota]

-quarter net income on Tuesday, boosted by new digital video products such as digital video recorders.

Growth in digital video subscriptions was well above expectations, overshadowing slower growth in high-speed Internet subscribers.

Cable operators like Comcast are betting on new digital video services to counter phone companies, which are aggressively adding video services. At the same time, satellite operators are selling cheaper television service and digital video recorders.

Comcast said net profit rose to $430 million, or 19 cents per share, from $262 million, or 12 cents per share, a year earlier.


The rise in net new digital video subscriptions was driven by customers adding digital video recorders and high definition video service.

The company added 284,000 net new digital video subscribers in the quarter, compared with the average Wall Street estimate of about 178,000.


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[bcshields]

Raising rates probably helped too. Basic cable package here is $70 plus add'l for cable box/remote rental and all that.