US cable giant Comcast has revealed that profits soared 26 per cent in Q4 2013, and that it had finally put the brakes on a trend of customer losses.
For the three months ended December 31st, Comcast added 43,000 net video subscribers – marking the first time in nearly seven years that the company did not lose more customers than it gained during a quarter.
Profit increased to $1.91 billion compared with $1.5 billion in the year-earlier period.
“We really have strong momentum across all of our businesses,” Comcast Chief Executive Brian Roberts said in a conference call.
At NBCUniversal during Q4, cable channels USA Network and Bravo, the NBC broadcast network and the Universal Pictures movie studio sparked revenue gains of 7.5 per cent to $6.5 billion. Operating cash flow, Comcast’s metric for profitability, swelled 14.3 per cent to $1.3 billion.
“We feel great about improvement at NBCUniversal, which has exceeded our expectations,” Roberts said. “The turnaround in broadcast is happening even faster than we anticipated.”