Comcast CMCSA raised ’04 guidance for cable EBITDA growth to 18% from 15-17%. It reduced basic sub guidance to flat from 0.5% growth and trimmed phone guidance to 100K net sub loss from a gain of up to 50K subs. The MSO doubled its share buyback plan to $2bln after repurchasing $750mln of its stock to date. Cable revenue rose 10% to $4.8bln, while operating cash flow climbed 20% to $1.9bln. Comcast added 327K HSD subs during the Q and nearly 206K digital subs. — Time Warner Cable’s operating income rose 9% to $817mln, while revenue climbed 10% to $2.12bln. It added 124K net digital subs and 127K HSD subs. It had 591K total DVR subs and nearly 1.3mln SVOD subs, representing 13% and 28% of digital video subs, respectively. Time Warner raised company guidance to the low double digital-low teen range from the low double-digit growth previously forecast. TWX’s networks saw EBITDA increase 23% to $661mln, while revenue rose 10% to $2.38bln. — While Charter’s SEC investigation ended, TWX’s continues. The company widened its internal investigation of the online division to include how it accounted for its purchase of AOL Europe in ’02; a restatement of financials may result.

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Election Watch

Election Day is only six weeks away, and political analyst Charlie Cook believes it will be difficult for President Trump to do what it will take to emerge victorious over Democratic nominee Joe Biden . Cook

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