Comcast said it expected to cut its capital expenditures this year because AT&T Broadband's cable systems were not in as much need of revamping.
Several analysts had estimated that Comcast would have to spend US$5.2 billion this year, but the company said it was estimating capital spending of just US$4 billion.
It also said it would be able to reduce its debt of $29.5 billion at the end of last year to about US$26 billion this year, in large part from the restructuring of Time Warner Entertainment, a joint venture it owns with AOL Time Warner. That restructuring will probably result in Comcast's raising US$3.3 billion.
Comcast has a majority stake in QVC, the home shopping channel, and QVC's performance was a bit disappointing. Its revenue grew only 9.5 percent in the fourth quarter, to US$1.38 billion. Domestic revenue increased only 5.9 percent. But QVC's German channel contributed to cash flow for the first full year, and the Japanese channel performed above expectations, so cash flow rose 20.8 percent, to US$286 million.
RSS