Comcast Cites Competition Pressures as Revenues Slip

07 December 2007

NEW YORK: US cable giant Comcast has cut its 2007 revenue forecasts and predicted basic-cable subscriber losses this year and next, the result of stiffer competition from telcos and the nation's sluggish economy.

The company's co-cfo Michael Angelakis warns that if Verizon and AT&T continue their aggressive free TV offers and similar services, "we will lose some basic subscribers over the next few years".

Comcast has lowered its forecast for cable revenue growth in 2007 from at least 12% to 11%.

Data sourced from Financial Times online; additional content by WARC staff