Bruin Sports Buys Video Streaming Firm Nike's North American Profits Take Dip Titleist Owner Acushnet Files For IPO Sources: DraftKings, FanDuel In Talks For Merger WME-IMG Expanding Its Chinese Business WinView Brings In $3.4M In Funding Round Under Armour To Lose $120M In Sales Acushnet Reportedly Prepping For IPO MP & Silva Sells Controlling Stake Judge OKs Sports Authority Sales Plan
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).