Financial Roundup

29 October 2004

Latest results from major marketers and the media


  • Comcast (calendar Q3)
    The nation's largest cable operator posted net income of $220 million (€172.88m; £120.07m) - down from $3.18 billion a year ago when it reaped $3.3 billion from the sale of its 57% stake in QVC.
       Excluding the gain from the sale of QVC, the company had a net loss of $153m during the same period last year.
       Comcast surpassed Wall Street expectations by signing up more than 549,000 high-speed internet subscribers and 341,000 digital cable customers. Pay-per-view revenue rose 32% to over $100m.

  • Cox Communications (calendar Q3)
    America's fourth-largest cable operator reported a profit of $42 million (€33.79m; £23.47m) compared year-on-year with a loss of $215.1m.
       The cable company's high-speed internet subscriptions rose 32% to 2.4m customers, while digital cable customers increased 14% to 2.4m.

  • Honda Motor Company (fiscal Q2)
    A strong yen and slowing sales in North America drove down net profit by 7.5% to ¥127.1 billion ($1.19bn; €936.37m; £650.29m).
        This compared with ¥137.4bn a year earlier, although the company remained sufficiently optimistic to raise its dividend and profit forecasts for the full year to March 31 2005.
       Japan's third-largest car maker by production volume, known for its Accord and Civic models, achieved worldwide passenger vehicles sales of 794,000 units, a record surpassing a previous high of 793,000 units in the quarter ended in March.
       Its motorcycle divisions also recorded solid sales increases, particularly in Asia.

  • Procter & Gamble (fiscal Q1)
    While profit for the period increased 14%, rising commodity costs and aggressive marketing spending eroded margins.
       This raised concerns about the depressing effect of fierce competition on margins in the consumer-products sector during the coming year.
       P&G, whose brand portfolio ranges from Crest toothpaste, Tide detergent and Folgers coffee to Pampers diapers, said net income for the quarter to September 30 rose to $2 billion (€1.57bn; £1.09bn) from $1.76 billion a year earlier.
       Sales increased 13% to $13.74bn from $12.2bn in the year-earlier quarter, led by developing markets, new products and acquisitions.
       The Cincinnati-headquartered giant didn't raise its full-year projection because "at this point we simply need to be cautious about the balance of the fiscal year," said cfo Clayt Daley. "Higher commodity prices and higher promotional prices of some competitors" made it "prudent" to keep full-year projections steady.

    Data sourced from multiple origins; additional content by WARC staff