Minute Media Closes On $15M Investment Round ESPN Still Hurting Disney Quarterly Results Under Armour's Kevin Plank Defends Company MLB Postseason Boosts 21st Century Fox' Q2 Callaway Golf Posts Solid Financials Under Armour Posts Tepid Forecast For '17 No Bidders For Bauer Hockey's Parent Co. ISC Revenues Up For '16, Admissions Down StubHub Q4 Results Show 20% Jump From '15 Sports Owners Investing In Tech Startups
COMCAST REPORTS WIDER THAN EXPECTED LOSSES IN FOURTH QUARTER
Published February 25, 1998
Comcast Corp. reported "much wider losses" for its fourth quarter of '97 and the full year ended December 31, although annual revenues increased 21.6%, according to Richard Morgan of VARIETY. Comcast posted a fourth quarter loss of $81.4M, compared with a loss of $25.7M a year earlier, while its year-end loss of $238.7M compared with a loss of $53.5M in '96. Comcast saw a 19.3% gain in revenue for the quarter, from $1.17B a year earlier to $1.39B in '97. Annual revenues grew to $4.91B in '97 from $4.04B in '96. Comcast attributed its fourth quarter loss "primarily" to the rollout of a nationwide personal communications service in partnership with Sprint PCS (VARIETY, 2/24).