Slow subscriber growth, disappearing customers and costs related to the company’s deal with NBC Universal led to an 8.2% drop in earnings. Comcast said that while its third-quarter operating cash flow rose 7.6% to $3.58 billion in the quarter, its $867 million in profit was down from last year’s 3rd quarter mark of $944 million. The overall 8.2% drop is due, the company said, in large part to one-time fees associated with NBC Universal deal and a softening of the pay-TV market as programming costs rise and more competition emerges from different platforms. But it’s also due to a subscription slow-down – Comcast lost 275,000 subscribers last quarter. While in the past, the reason may have been “cord-cutting” – people finding other ways to access programming (online, mainly) – the company says that’s not the case this time around and that the weak economy is forcing people to outright cancel service. Either way, that’s a lot of subscriptions gone. Despite the drop, the quarter exceeded overall expectations due to revenue growth associated with existing high-end customers (bundling different services). Comcast is aiming to complete its deal for NBC Universal by the end of 2010. Steve Burke, currently the Comcast chief operating officer, has been tapped to run the company.





I would can Commiecast in a second if our city council would just get out of bed with them and allow Verizon Fios to provide some much needed competition in our town. Comcast has been absolutely impossible to deal with in many ways, with shoddy fix jobs three times over the past two years (all of which were their fault), unreliable internet service (my wireless router refuses to work, which they say is my fault, but it was working fine until they started an upgrade six weeks ago), and refusal to add several channels of interest despite four years and tons of letters asking for them from more than just us while duplicating several channels on three or four stations to accomodate “tier issues”. I would say “Good riddance” so fast if I could…and I guess Comcast learned from the fact that when the next town over allowed Fios in, Comcast lost almost 70% of its’ subscribers, and they don’t want a repeat of that again…and it would happen, if everyone i’ve talked to is any indication…
VOD porn doesn’t sell like it used to, I bet.
Verizon FIOS has been kicking Comcast’s butt in my area.
“Comcast lost 275,000 subscribers last quarter. While in the past, the reason may have been “cord-cutting” — people finding other ways to access programming (online, mainly) — the company says that’s not the case this time around and that the weak economy is forcing people to outright cancel service. Either way, that’s a lot of subscriptions gone.”
Oh yeah?? Not true in my case. In my case, they told me that I had been under a promotional rate and the rate was now ending–to the tune of a 47% increase on the monthly bill. This is for Digital Basic–nothing deluxe. Not true, said I–this was not promotional at all and I’d like to see any paperwork supporting your claim. So they say to me, “Your bill has stated for the past year that your promotional rate would be ending.” Yes, I said, the bill says this…but you can’t just write anything you feel like on a bill and claim that it’s an agreement between us…I never agreed. Now show me some paperwork where I agreed to this so-called promotional rate that ends in one year. Of course they couldn’t because there ISN’T ANY. Next, since they can’t produce an agreement, they try a new, sleazy gambit: offering me a “new” six month promotion at my current rate. Forget it, said I. Either I pay the rate I’ve always paid or I walk. They replied that they would look for the paper work and send it to me. That was about 5 weeks ago. Nothing in my mailbox. These guys are truly incredible. And that’s why they are losing subscribers. Recession reshmession.