Topic: Internet ISP News - Comcast 3Q Profit Tumbles, Shares Slide - The Associated Press

The decline also reflected a comparison with year-ago results that included $669 million in one-time gains related to Comcast’s purchase of Adelphia’s cable assets and a swap of cable systems with Time Warner Cable Inc. Standard and Poor’s downgraded the stock to a “sell” in the face of tougher competition that could slow unit growth and force Comcast to offer deeper discounts on its “triple-play” bundle of video, Internet and phone service. To fight back, Comcast said next year it plans to start direct-mail marketing to dial-up customers of its lower-priced Internet service, which is slower than its standard high-speed service. Comcast added 489,000 new digital video subscribers in the quarter, down 12 percent from last year, to 14. However, the company pointed out that 61 percent of basic subscribers have upgraded to digital, up from 50 percent a year ago. read more

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