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Comcast Sees $2Bln In Free Cash Flow In 2004; Approves $1Bln Share Repurchase Program - Update

(RealTimeTraders.com) - Before the bell Thursday, Comcast Corp. (CMCSA, CMCSK) announced that it expects to generate consolidated free cash flow in 2004 of $2 billion.

The Philadelphia, Pennsylvania-based company said that the growth in free cash flow would be driven by 15% to 17% growth in cable operating cash flow and significantly reduced cable capital expenditures of $3.3 to 3.4 billion.

Comcast stated that its Board has authorized the repurchase of up to $1 billion of its outstanding common equity securities.

Brian Roberts, President and CEO, said, “Our operational and integration progress will produce continued revenue and operating cash flow growth and significant free cash flow in 2004.”

CMSK closed Wednesday’s regular trading session at $30.17, while CMCSA closed at $31.55

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