Comcast Corporation – the US cable operator that won last year’s race for the hand of market leader AT&T Broadband – swung to a first-quarter loss of $88.9 million (€97.3m; £60.6m) from a $1 billion profit twelve months earlier.
However, operating results were more positive – revenues for the quarter jumped 20% to $2.67bn, after Comcast acquired 697,000 cable subscribers from AT&T in April and June 2001, while operating cash flow surged 27% to $808.2m.
Over the quarter, the group attracted 203,700 extra digital cable subscribers and 92,400 high-speed web customers.
Comcast’s $45.7bn acquisition of AT&T Broadband – which would create a cable giant serving 21m US homes – is still being reviewed by regulators.
Data sourced from: MediaWeek.com (USA); additional content by WARC staff