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Article: Biz Briefs; Comcast Loss Widens.(television industry news briefs)
- Article from:
- TelevisionWeek
- Article date:
- May 12, 2003
CopyrightCOPYRIGHT 2003 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Cable giant Comcast fell deeper into the red Thursday, reporting a first-quarter loss of $297 million, or 13 cents a share, from a year-earlier loss of $89 million, or 9 cents a share. Wall Street analysts were projecting a loss of 9 cents a share.
The Philadelphia-based company, which became the nation's largest cable operator following the acquisition of AT&T Broadband last November, said its revenue surged more than 106 percent to $5.52 billion from a year-earlier figure of $2.67 billion. Cash flow, or earnings before interest, taxes, depreciation and amortization, soared nearly 103 percent to $1.64 billion.
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