Comcast posts higher profits

Comcast posts higher profits

Comcast is the largest cable service provider in the US market. The company has now come out with their latest revenue report and they have posted a higher quarterly profit.

Comcast said that they gained market share in telephone and Internet services and were also able to control their expenses.

They gained subscribers from rival services including AT&T Inc and Verizon Communications Inc.

Market analyst Tom Eagan said in a statement on the company’s report: “Free cash flow was better than we expected and that was partly due to the fewer customer adds, so they didn’t incur costs of adding new subscribers.”

Comcast reported that their net profit in the second quarter rose to $632 million. The revenues were up at $8.553 billion.