Comcast Corp. kept the momentum going after the strong first-quarter results from No. 2 cable operator Time Warner Cable yesterday, improving subscriber losses and nearly doubling its free cash flow.
Comcast said it lost 78,000 subscribers in the period - slightly worse than the 57,000 lost in the first quarter of 2008 but better than analyst consensus estimates of a 171,000 subscriber loss. Revenue rose 5.3% to $8.8 billion at the nation's largest cable operator and operating cash flow rose 8% to $3.4 billion.
The company added 288,000 digital-cable customers (down from 494,000 in 2008); 329,000 high-speed data customers (down from 492,000); and 298,000 phone customers (down from 639,000).