Comcast Offsets Video Pains With Broadband Gains
But Comcast, now with 23.47 million video subscribers overall, showed growth in broadband subscribers as it reported its first-quarter results today.
The Comcast added 418,000 more broadband subscribers in the quarter, giving it a total of 16.4 million. The company also added another 260,000 voice subscribers.
The MSO's cable revenues were $9.1 billion, and its business services revenues jumped nearly 50 percent in one quarter to $394 million. (See Cable's $5B Biz Services Bonanza .)
Comcast beat Wall Street expectations as it reported a profit of $943 million, or 34 cents a share, on revenues of $12.1 billion. Those results include two months of NBCUniversal LLC figures.
Capex for the quarter was $1.1 billion, up 15.4 percent, as the MSO moved ahead with an all-digital initiative that requires the deployment of millions of Digital Terminal Adapter (DTA) digital-to-analog converter boxes. Comcast's Docsis 3.0 network upgrades and its business services investments also contributed to the capex spike. (See Comcast's $1B Bandwidth Plan and Comcast Chases Big[ger] Business .)
Comcast execs are scheduled to expand on first-quarter results Wednesday morning.
— Jeff Baumgartner, Site Editor, Light Reading Cable