Comcast Narrows Loss, Boosts Cash-Flow Outlook - TheStreet

Comcast Narrows Loss, Boosts Cash-Flow Outlook

The company also raises its guidance for subscriber additions in 2003.
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Comcast

(CMCSA) - Get Report

narrowed its loss in the second quarter and raised its full-year estimates for operating cash flow and subscriber additions.

For the three months ended June 30, the company reported revenue of $5.69 billion, compared with $2.70 billion in the second quarter last year. Comcast lost $22 million, or 1 cent a share, vs. a loss of $210 million, or 22 cents a share, a year ago.

Consolidated operating cash flow increased to $1.83 billion from $866 million in the second quarter of 2002. The increases in revenue and operating cash flow reflect the acquisition of AT&T Broadband in November.

Comcast added 12,100 basic-cable subscribers in the second quarter, and the company now expects to add 125,000 to 150,000 basic users in 2003. At the beginning of the year, the company expected its subscriber numbers to remain flat, but later raised the outlook to 75,000 to 100,000 additions.

The company also raised its guidance for full-year cable operating cash flow by $100 million to between $6.3 billion and $6.4 billion.

"We continue to see significant opportunities to accelerate revenue and cash flow growth from the newly acquired cable systems to match the performance of our historical cable systems, as well as to maximize the performance of all our cable systems," Comcast said in a press release.

Comcast Cable added 162,100 digital subscribers to end the second quarter with 6.95 million users, a pro forma increase of 19.4% over the same prior-year period.

Shares of Comcast were losing 42 cents to $30.40 in morning

Nasdaq

trading.