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PHILADELPHIA (AP) - Comcast Corp., the nation's largest cable TV operator, reported a 28 percent increase in second-quarter profit Thursday as it saw a surge in subscribers for digital TV and its promotionally priced package of TV, Internet and phone services reeled in customers.
But investors were disappointed by declines in basic video subscribers and the smaller-than-expected growth of high-speed Internet subscribers. Analysts also said given Comcast's recent string of strong results, shares sold off because the company didn't raise guidance.
Craig Moffett, an analyst at Sanford Bernstein in New York, said investors were also disappointed that Comcast failed to announce an expansion of its stock buyback program.
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