Comcast Sheds 37K Video Subs in Q1
While some analysts were expecting Comcast to post a rare gain in basic video subs, it wasn't to be, as the operator lost 37,000 customers in the category, giving it 22.29 million at the end of the period. But the MSO continued to narrow the gap; it lost 39,000 basic video subs in the year-ago quarter. (See Will Comcast (Gasp!) Add Video Subs in Q1?)
Comcast posted gains just about everywhere else. It added 439,000 high-speed customers compared with 418,000 a year earlier, extending that total to 18.58 million. Digital voice continued to grow, but at a slower pace than last year, as Comcast added 164,000 subs compared with 260,000 in the year-ago period. Comcast ended the quarter with 9.5 million digital voice customers.
With all categories tabulated, Comcast added 565,000 video, high-speed Internet and voice subs in the quarter.
Comcast posted a first-quarter profit of US$1.22 billion (45 cents per share) on revenues of $14.9 billion, up 9 percent year-over-year. Analysts were expecting a profit of 42 cents on revenues of $14.4 billion.
Business services remained a rising star, as Comcast pulled in $541 million in revenues in the category, compared with $394 million a year earlier.
— Jeff Baumgartner, Site Editor, Light Reading Cable
Interested in learning more on this subject? We’ll be covering it at our live event: Managing & Monetizing OTT Video – June 21, 2012. Registration details are here.