Comcast in the second quarter of 2003 doubled its revenues; significantly lowered its losses; and showed good growth in subscribers, a big improvement considering its large end user losses a year ago.
Revenues were $5.69 billion in the second quarter of 2003, up from $2.7 billion in the year earlier-quarter, before the November acquisition of AT&T's cable business made Comcast the nation's largest cable operator. Operating cash flow rose to $1.83 billion from $866 million a year earlier.
The company reported a loss of $22 million, or 1 cent a share, for the three months ended June 30, compared with a loss of $210 million, or 22 cents a share, in the second quarter of 2002.
The company added 12,100 basic subscribers during the quarter, compared with a loss of 133,300 a year earlier in Comcast's systems and the cable systems then with AT&T.
Comcast expects to add 125,000 to 150,000 basic cable subscribers for the year, compared with its expectation at the beginning of the year of flat subscriber growth.
Comcast has more than 21 million subscribers in 41 states, including systems 17 of the 20 largest cities.
