Comcast (CMCSA) had a very good quarter, and did especially well taking phone customers from its Bell rivals.
Revenue was up 14% to 8.389 billion. Operating income moved up 23% to $1.555 billion.
One the VoIP side of things, Comcast picked up 639,000 phone customer, raising its penetration of homes served to 5.1 million households. Phone revenue increased 65% to $587 million in the first quarter of 2008 from $356 million in 2007. The addition of 2.6 million subscribers in the last twelve months drove revenue from VoIP by more than doubled to $573 million in the first quarter of 2008 compared to the same period of the prior year.
Not good news for Verizon (VZ) or AT&T (T).
Douglas A. McIntyre
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