Summary Box: Comcast reports earnings, changes the name of core cable services
By APWednesday, February 3, 2010
Summary Box: Comcast reports earnings
THE NUMBERS: Comcast Corp. said Wednesday it earned $955 million, or 33 cents per share, in the fourth quarter, buoyed by higher Internet and phone revenue and a one-time tax gain.
WHAT’S NEW: Comcast is changing the name of its core cable TV, Internet and phone services to XFinity in hopes of sharpening its image as an innovator as it rolls out improved products such as more high-definition channels and faster Internet speeds. Comcast CEO Brian Roberts said the company is starting to integrate operations of NBC Universal, in which it is planning to take a controlling stake.
APPLE’S IPAD: Comcast, like other cable TV providers, keeps a close eye on emerging technology and devices, such as Apple Inc.’s iPad, that bypass cable to deliver content directly to consumers in and outside the home. But Roberts said giving consumers access to content anytime, anywhere is good for Comcast. Buying NBC Universal’s content certainly gives Comcast a way to make money no matter where that content is shown.
