So many Comcast subs are drinking the MSO’s Kool-Aid that it’s upping guidance for ’05 operating cash flow growth to 14-15% from 12%. It added 200K digital subs in 1Q, and the advanced HD and HD DVR boxes were really cooking, with 425K HHs signing up (the strong demand for advanced boxes has Comcast upping cap ex by $200-$300mln). The operator reported over 100mln VOD views for Mar-3 times the number of views a year ago, with the avg viewing session close to 50mins. Comcast wants to take all of its markets to all-digital in 2-3 years, using converters to offer VOD to a much larger consumer base. "We used to think that digital would plateau at about 40% [penetration]," said Comcast Cable pres Steve Burke. "We’ve now gone beyond that 40%. Because of VOD, HD and DVRs, we now should be able to take digital subscriptions to the mid-50s, maybe 55% over time." High-speed data continues to be the little engine that could: net adds totaled 414K, with HSD rev rising 32.5% to $925mln. Comcast lost about 29K basic subs during the Q. VoIP: Comcast plans to rollout VoIP in the next 30 days to Boston and Hartford, CT. In 60 days, it will bring the service to Chicago and Portland, OR. Comcast chief Brian Roberts said the company is looking at a $69 promotional price point for a IP phone and HSD bundle aimed at the 18-20mln HHs in its footprint that aren’t video subs. The MSO added 7K VoIP customers in 1Q, and lost 3K circuit-switch phone subs. By the Numbers: Comcast’s earnings soared to $313mln (14 cents/share) from $65mln a year ago, beating analyst estimates of 11 cents/share. Revenue rose to $5.4bln from $4.9bln. Comcast’s board authorized the repurchase of $2mln in stock.

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