COMCAST, TIME WARNER LOSE SUBSCRIBERS BUT GAIN PROFITS

Shares of Comcast, the nation’s largest cable provider, were up 5.5 percent at midday today (Thursday) following the company’s announcement that its first-quarter net income was up 12 percent from a year ago. The result came despite a loss of 82,000 subscribers — presumably to satellite competitors — during the quarter. In a conference call with investors and the news media, CEO Brian Roberts attributed the profit boost to higher margins from packaged TV, broadband, and telephone services — so-called triple play packages. “We grew our revenue per customer 6 percent,” said Roberts. “That’s a pretty great number.” The company also said that it spent $14 million during the quarter on costs involved in acquiring NBC Universal. Similar results were reported by No. 2 cabler, Time Warner Cable, which said that its operating income rose 19 percent despite losing 42,000 subscribers. It also said that its improved profits resulted primarily from broadband and telephone add-ons.