Key Takeaways From Comcasts Analyst Call Concerning 4Q05 Results and 2006 Outlook

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In this report we provide an overview of the key messages delivered by Comcast, our opinion regarding the market’s generally negative reaction to those messages, and our view of the most important takeaways from the call and from Comcast’s 2005 performance. Note that we will provide a detailed assessment and forecast of Comcast and other leading MSOs in a March 2006 report in Stratecast Partners Consumer Market Strategies Analysis Service.

Table of Contents

Key Takeaways From Comcast’s Analyst Call Concerning 4Q05 Results and 2006 Outlook CMS 1-04Introduction2005 Financial PerformanceOperational PerformanceComcast Still Trying To Find Its VoiceBundles Benefit Newbies FirstWireless JV – No New NewsWall Street Loss is Comcast’s Gain?Stratecast Partners - The Last WordAbout Stratecast Partners

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