Comcast Gives Digital Thumbs-Up

CEO Brian Roberts sees huge things ahead.
Author:
Publish date:

Comcast

(CMCSA) - Get Report

chief Brian Roberts still believes that he's right and Wall Street is wrong.

The Philadelphia-based cable system operator is still smarting from last week's selloff in the wake of another mixed quarterly earnings report. Comcast emphasized revenue and subscriber gains across its cable and broadband businesses, but investors punished the company for an anemic performance on the bottom line. Comcast dropped nearly 4% on the day of the report and is down 19% since the start of last year.

But in an interview Wednesday on the sidelines of the McGraw-Hill media summit in New York, Roberts was still keen on the promise of Comcast's new digital services. 

Roberts said Comcast's "plans on broadband and high speed digital services are moving in the right direction." He added that setting up the infrastructure to build those services forced Comcast to pre-organize for future technological advantages, and that the company is now in a superior position to capitalize. 

Asked if satellite was a competitive threat to cable, as some investors increasingly feel, Roberts said that in terms of bundled triple-threat services, "satellite doesn't have the infrastructure." Satellite providers like

DirecTV

(DTV)

and

EchoStar

(DISH) - Get Report

, which are now just starting to put together full wireless platforms, may be a little late to the game, Roberts suggested.  

On Internet protocol television, Roberts said customers are using Comcast's on-demand services heavily, pointing to great demand for the time-shifting technology.  

On the current views of Comcast in the market, Roberts said, "

Disney

(DIS) - Get Report

reported 7% revenue growth,

Time Warner

(TWX)

reports 4%, we report 10% -- and the world assumes that we are going to continue to see slowing growth." The evidence, Roberts believes, points to the contrary.  

Indeed, on a wireless plan, he said he was very happy with the company's partnership with

Sprint

(S) - Get Report

.

On Wednesday, Comcast shares rose 12 cents to $26.96.