Comcast Continuing to See Video Weakness (CMCSA)

At a recent investor meeting, the CFO of Comcast CMCSA, Mike Angelakis, said to the audience that basic video weakness has continued into the third quarter due to the economy and as digital transition over the air subs churn off one year after the transition. Comcast management said that they had added 165,000 of these customers in the first half of 2009, and that in the first half of 2010, so far, they lost 169,000 transition customers. The company did not provide any color on other customer metrics, although they did seem fairly upbeat, believing that its financial performance can continue to be strong. As to the Xfinity re-branding, the company is currently 63% done with this, and the more mature Xfinity markets are outperforming both financially and operationally. The company has not detected any unusual competitive activity, and remains bullish on its VOD and DOCSIS offerings. As to the NBC Universal transaction, Comcast remains confident the deal will close by YE10. Click here to get trading ideas that could bring you a 100% return.