Comcast CEO Roberts Comments on CNBC about Comcast Earnings (CMCSA)

Comcast

CEO Roberts was on CNBC earlier today to comment on the company's earnings announcement yesterday. Comcast reported an EPS of $0.36 versus the Street's $0.34 estimate, with revenues of $12.13B versus the Street's $12.99B estimate. See that earnings announcement

. Roberts says that he is "very pleased" with free cash flow at the company. He also says that he has seen an uptick in advertising in recent weeks. He says that the company's "triple play" offerings are competing well. He also confirms that NBC Universal's results were in-line with the company's forecasts. Roberts says that cable programming (MSNBC, Bravo, sports programming) is the "heart and soul" of cash flow at NBC Universal. Theme parks, on the other hand, are not performing as well, but Roberts says that they have made significant infrastructure investments and will start to see turnaround soon and yield on those investments. "Cable channels had a terrific quarter." He continued to explain the importance of cable television, "we still think they have tremendous potential." Comcast investors know that the highest profit margins at Comcast come from areas like cable programming, where capital expenditures are at their lowest relative levels. Regarding advertising, Roberts said that Comcast has been spending more on advertising than customary levels for the company. He believes that advertising is becoming more important in today's economy and will continue to drive the company's sales forward. Regarding the National Hockey League, Roberts said he had "no more comment" on the bidding process other than to say that Comcast continues to have a good relationship with the league. Overall, Roberts reaffirmed his commitment to increasing shareholder value and believes that the company continues to operate at acceptable levels of profitability.