Demonstrating that its pursuit of AT&T Broadband doesn't seem to be distracting management, Comcast continued its strong financial performance during the third quarter.
Cable division sales rose 10% to $1.3 billion, while cash increased 13% to $572.4 million. The company added basic subscribers at the mediocre pace of 1%. But cash flow margins increased a full point from 42.6% to 43.7%.
The company added 243,400 digital cable subscriptions, a pace that's 21% better than sales during the second quarter. High-speed data units increased 117,000, a 15% better pace.
Comcast President Brian Roberts said the sales gains counter skeptics' contention that digital cable and modem sales will fade as the economy stumbles. "This quarter is a remarkable achievement," he said. - John M. Higgins