Comcast Q2 income up 15%
July 22, 2014
Comcast Q2 income rose 15 per cent to nearly $2 billion as it added high-speed Internet customers at a faster pace than a year ago and video subscriber losses moderated. High-speed Internet customers increased by 203,000 – the best Q2 net additions in six years,
The largest cable provider in the US reported that net income rose to $1.99 billion. Revenue grew nearly 4 per cent to $16.84 billion.
After seeing gains in the number of its video customers for the past two quarters, Comcast said it lost 144,000 video customers in the quarter, compared with a loss of 162,000 in the year-earlier period.
NBCUniversal revenue increased 0.3 per cent and operating cash flow increased 20.4 per cent, as operating cash flow margins expanded to 23.8 per cent from 19.9 per cent in the prior year period.
Brian L. Roberts, Chairman and Chief Executive Officer of Comcast Corporation, said, “We continue to see strong momentum across our cable and content businesses. In Cable, we posted the best second quarter customer results for both video and high-speed Internet in six years and saw tremendous demand for our X1 product, which is a truly transformative experience. We are also pleased with the continued rapid growth of business services, which has quickly become an important engine for the company. NBCUniversal had another excellent quarter with double-digit operating cash flow growth driven by solid results in each segment and a first place finish for NBC for the 2013/2014 broadcast television season.”