|
Total revenue at the largest U.S. cable
operator, which owns NBC Universal, rose to $16.79 billion in
the third quarter, up 4 percent from the year-ago period.
Analysts had been expecting $16.81 billion, according to Thomson
Reuters I/B/E/S.
Comcast said it added 315,000 net high speed Internet
subscribers, a 5.8 percent uptick over the same period.
About 81,000 customers canceled video subscriptions, far fewer
than the net loss of 127,000 in the 2013 third quarter. Analysts
had forecast a net loss of 93,000 subscribers, according to
StreetAccount.
The decrease in cable subscriptions is a closely watched figure
that has taken on even more prominence given two major
announcements from Time Warner Inc HBO and CBS Corp last week.
Both the pay TV network and broadcaster are launching services
that allow people to watch programs with only a broadband
connection. Cable and satellite distributors are seeking ways to
stop consumers, especially younger ones, from dumping their
cable subscriptions, or "cutting the cord."
On the media side, Comcast reported that revenue at NBC
Universal division inched up 1.2 percent to $5.92 billion on the
strength of advertising revenue at broadcast network NBC and its
theme parks.
Third quarter net income increased almost 50 percent to $2.59
billion, or 99 cents per share.
Adjusted for a one-time tax settlement, earnings per share rose
to 73 cents from 65 cents in the year-ago period.
Comcast is in the process of acquiring Time Warner Cable, which
it had agreed to buy for $45.3 billion earlier this year.
(Editing by Richard Chang)
[© 2014 Thomson Reuters. All rights
reserved.] Copyright 2014 Reuters. All rights reserved. This material may not be published,
broadcast, rewritten or redistributed.
 |
|
