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Comcast Splits 3-for-2

But it misses on the fourth quarter.

Comcast (CMCSA) - Get Comcast Corporation Class A Report missed fourth-quarter estimates but guided to a solid 2007 and set a 3-for-2 stock split.

The Philadelphia-based cable system operator made $429 million, or 20 cents a share, from continuing operations for the quarter ended Dec. 31, up from the year-ago $107 million, or 5 cents a share. Revenue rose to $7.03 billion from $5.42 billion a year earlier.

Excluding certain costs, adjusted earnings were 21 cents a share in the latest quarter.

Analysts were looking for a 24-cent profit on sales of $7.13 billion.

"Powered by our triple play offering and superior products, we added more

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revenue generating units than at any other time in our history and reported terrific growth in cable revenue and operating cash flow," CEO Brian Roberts said. "This record-setting performance demonstrates substantial operating momentum, and we could not be more enthusiastic about the future."

Comcast said it added 1.6 million RGUs during the quarter, fueling 14% growth in revenue and 17% growth in operating cash flow.

Video revenue increased 9%, reflecting growth in both basic and digital cable customers and increased demand for advanced digital features, such as DVR and HDTV. Comcast Cable added 613,000 digital cable subscribers and 110,000 basic cable subscribers during the fourth quarter of 2006, each representing the highest quarterly additions in more than 10 years.

High-speed Internet revenues increased 23% in the quarter to $1.5 billion. The strong growth includes the addition of 488,000 high-speed Internet subscribers, a 12% increase from the same period last year and relatively stable monthly revenue per subscriber. Cable phone revenue increased 77% in the fourth quarter of 2006 to $302 million, reflecting the addition of 508,000 Comcast Digital Voice customers offset by the decline of 87,000 circuit-switched customers during the quarter.

Comcast forecast 12% revenue growth and 14% operating cash flow growth for 2007.