Comcast Slows Video Losses, Grows Internet Subs
Comcast lost a better-than-expected 165,000 video subs in the period, an improvement on the 275,000 it shed a year ago, giving it a total of 22.36 million.
Like other MSOs, Comcast's high-speed Internet business was solid as it added 261,000 cable modem subs. But voice continued to show signs of slowing as Comcast added 133,000 telephony customers in the quarter, versus 257,000 in the year-ago quarter.
Comcast added 229,000 net combined video, high-speed Internet and voice subs in the period, versus 202,000 a year ago.
Comcast reported net income of US$908 million, or 31 cents per share, on revenues of $14.3 billion. This compares with a profit of $867 million, or 31 cents per share, on consolidated revenues of $9.5 billion from the year-ago quarter, numbers that did not factor in results from the recently acquired NBCUniversal LLC .
Analysts were expecting third-quarter earnings of 40 cents a share.
Comcast's business services arm saw third-quarter revenues jump 39.4 percent to $464 million.
— Jeff Baumgartner, Site Editor, Light Reading Cable