Corydon
Cultivant son jardin
Premium
join:2008-02-18
Denver, CO
clubs:
 ·Comcast
| Re: nobody cares about ISP Portals. You know, there's an awful lot of advertising on Comcast's web portal. Did anyone ever consider that it might actually be adding to the bottom line, not taking money away from network improvements?
Unfortunately, it's kind of hard to pick out exactly where the web portal stands in terms of whether it turns a profit or a loss because Comcast lumps it together with Spectacor (the entity which owns the sports teams in Philly) and corporate overhead. However, there was this paragraph in the Q1 earnings:
Corporate and Other
Corporate and Other includes corporate overhead, Comcast Spectacor, Comcast Interactive Media (CIM), and other operations and eliminations between Comcast's businesses. For the first quarter of 2008, Corporate and Other revenue increased to $110 million from $88 million in the first quarter of 2007 primarily due to the strong performance at CIM from internet advertising and search revenue and the inclusion of Fandango. The Operating Cash Flow loss for the first quarter of 2008 decreased to $81 million compared to a loss of $96 million for the same period in 2007. (emphasis added)
In the worst case scenario, a loss of $88 million (and bear in mind this includes all of the corporate overhead expenses like the shiny new building in Philadelphia) is pretty small in the grand scheme of things (by way of contrast, capital expenditures in Q1 were $1.5 billion).
Disclosure: I'm an investor in CMCSA (which is why I see the financials...I received my proxy information a bit over a month ago).
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My opinions are my own. No-one else would want them! |
