Comcast Profits Jump 54%

Comcast Corp. on Thursday reported a 54 percent jump in fourth-quarter 2007 profits thanks to demand for cable TV and an acquisition. The news comes as the operator faces ever-more intense competition from the likes of Verizon and AT&T.

The nation’s largest cable operator recorded net income of $602 million, or 20 cents per share, compared with $390 million, or 13 cents, in the final quarter of 2006. Sales were up 14 percent to $8 billion, partly due to Comcast’s buy of Patriot Media & Communications.

Video revenue – which totaled $4.5 billion – grew by 6 percent as the average cost per user rose from $58.19 to $61.72 per month. The rise was attributed either to higher prices, additional services or both.

Comcast also added 331,000 new high-speed Internet customers for a revenue gain of 14 percent or $1.7 billion.

The Philadelphia-based company also pledged to pay a 6.25-cent quarterly dividend by the end of April. Executives expected the number to grow over time.

Comcast’s stocks closed at $19.24 on Thursday, up $1.43.

Comcast Corp. www.comcast.com

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