Comcast Holds 2007 Annual Meeting of Shareholders
Comcast Corporation (Nasdaq: CMCSA; CMCSK), the nation's leading provider of cable, entertainment and communications products and services, today held its annual meeting of shareholders at the Pennsylvania Convention Center in Philadelphia.
Comcast Chairman & CEO Brian L. Roberts discussed Comcast's record setting year in 2006, including its strong financial performance that was powered by the company's integrated Triple Play offering. Among the key highlights he discussed were that Comcast:
Added a record 5 million revenue generating units, representing a 69% increase over 2005
Achieved 26 consecutive quarters of double-digit operating cash flow growth
Increased cable revenue by 12% to $26.3 billion
Re-purchased 75 million shares of Comcast stock and related securities for a total investment of $2.3 billion
Mr. Roberts also spoke about Comcast's superior cable, Internet, and phone products and how he expects them to continue to drive significant growth for the Company during the remainder of 2007 and beyond. In particular, he said he expects Comcast Digital Voice penetration to be 20-25% by the end of 2009.
At the meeting, shareholders overwhelmingly elected all board nominees, approved the appointment of Deloitte and Touche as the Company's auditors, and defeated all shareholder proposals.
Comcast Corporation (Nasdaq: CMCSA, CMCSK) ( http://www.comcast.com ) is the nation's leading provider of cable, entertainment and communications products and services. With 24.2 million cable customers, 12.1 million high-speed Internet customers, and 3.0 million voice customers, Comcast is principally involved in the development, management, and operation of cable systems and in the delivery of programming content.
Comcast's programming networks and investments include E! Entertainment Television, Style Network, The Golf Channel, VERSUS, G4, AZN Television, PBS KIDS Sprout, TV One, eight regional Comcast SportsNets and Comcast Interactive Media, which develops and operates Comcast's Internet business. Comcast also has a majority ownership in Comcast-Spectacor, whose major holdings include the Philadelphia Flyers NHL hockey team, the Philadelphia 76ers NBA basketball team and two large multipurpose arenas in Philadelphia.
SOURCE Comcast Corporation
CONTACT: John Demming of Comcast Corporation,
Web site: http://www.comcast.com