Comcast broadband subs near TV customers
October 23, 2014
Comcast added 315,000 subs to its high-speed internet service as its reported earnings came in slightly ahead of expectations.
The increase lifts the number of Comcast broadband subscribers to 21.6 million and suggests it could soon eclipse the number of subscribers to the company’s cable television service.
Comcast has 22.4 million cable video subscribers, a number that is shrinking as viewers “cut the cord” of their television subscription or move to competing services from rivals, such as AT&T.
Comcast lost 81,000 video subscribers in the quarter, an improvement on the comparable quarter last year, when it lost 127,000.
Revenues for the quarter rose 4 per cent from $16.2 billion to $16.8 billion. Net income rose nearly 50 per cent from $1.7 billion to $2.6 billion but was lifted by a one-off tax gain.