(RTTNews) - Cable services provider Comcast Corp. (CMCSA: News ) is set to report its third-quarter results before the market opens Wednesday, as analysts are forecasting earnings of $0.25 per share on revenues of $8.85 billion. This compares to the previous year's adjusted earnings of $0.24 per share and revenue of $8.55 billion.

As of June 30, 2009, the company's video, high-speed Internet and voice customers totaled 46.22 million, up 3.7% from last year. Of this, voice customers rose 23.9% to 7 million and high-speed Internet customers grew 6.7% to 15.32 million. However, video customers declined 2.7% to $23.89 million. Digital video customers as at the end of the quarter totaled 17.54 million, up 7.4% from a year earlier.

The company added 334 thousand customers during the second quarter, down sharply from customer additions of 837 thousand in the first quarter.

Most recently, Comcast has been in the news that it is reportedly in talks to acquire a 51% stake in NBC Universal from General Electric Co. (GE) at three-and-a-half year and seven-year intervals. NBC Universal owns the NBC television network, Telemundo, Universal Studios theme parks and the Universal Pictures movie studio, as well as the cable networks Bravo, USA and CNBC. News Corp. (NWS) and Liberty Media Corp. (LINTA) are also reportedly interested in NBC Universal, though neither company has approached GE so far.

The cable giant has also been facing competitions from aggressive promotions from Verizon Communications Inc. (VZ). Verizon recently opened its newest Communications Store in Monmouth County, offering consumers a broad range of services and equipment including popular devices like the DROID by Motorola, the world's first smartphone with Android 2.0 that goes on sale November 6, and service features like Verizon Wireless Friends & Family.
For the preceding second quarter, Comcast posted a sharp growth in profit that totaled $967 million or $0.33 per share, compared to $632 million or $0.21 per share in the year-ago quarter, helped by an increase in revenues and cost-control measures taken by the company during the quarter. Revenues advanced 4.5% to $8.94 billion from $8.55 billion in the prior-year quarter.

Among Comcast's rivals, DIRECTV Group Inc. (DTV) is scheduled to release its third-quarter results on November 5, with analysts forecasting earnings of $0.39 per share on revenues of $5.42 billion.

Another peer, Dish Network Corp. (DISH) will announce financial results for its third quarter on November 9, as analysts are looking for earnings of $0.46 per share on revenues of $2.93 billion.

Comcast shares, which have been trading between $11.10 and $18.10 in the past 52 weeks, closed Tuesday's trading session at $14.51, on a volume of 26.4 million shares.

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by RTT Staff Writer

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