Comcast Profits Rise, But Stocks Drop on Sub News

Comcast Corp. said on Thursday its quarterly profit rose 28 percent. But the company’s stock dropped as investors learned 95,000 subscribers defected during the second quarter, bringing Comcast’s customer base to 24.1 million.

Share prices closed at $27.21, down 4.66 percent. The stock has ranged from $21.51 to $30.18 in the past year.

Meanwhile, the good news was that the provider’s net profit jumped to $588 million, or 19 cents per share, up from $460 million, or 15 cents per share, during the second quarter of 2006.

Revenue also increased by 31 percent to $7.7 billion as consumers signed up for digital phone and television services.

Comcast Corp. www.comcast.com

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