sunny.png
Monday November 18th, 2019 2:52PM

Comcast sheds cable customers but adds internet subscribers

By The Associated Press
Related Articles
  Contact Editor

PHILADELPHIA (AP) — Comcast kept shedding cable customers and adding home internet customers in its most recent quarter.

Traditional TV providers are losing customers at an increasing rate while streaming companies pop up seemingly every few weeks . To deal with that industry shift online from cable, Comcast has focused on growing its broadband business while integrating streaming apps into its cable box. It is also launching its own NBCUniversal streaming service in 2020.

It's a crowded market. Disney , Apple and AT&T are also launching new streaming services as younger people turn away from the traditional cable bundle.

In the January-March quarter, Comcast added 375,000 internet customers and lost 121,000 video customers.

NBCUniversal's revenue dropped 12.5% to $8.31 billion. Last year, the entertainment division got a big boost from the live sports extravaganzas of the Super Bowl and the Winter Olympics, both aired on NBC. Those live sports events pull in more viewers than usual and get more money from advertisers. Within NBCUniversal, a bright spot was movies, where revenue rose 7%.

The company's new Sky division in Europe, which it bought last year, posted a 5% revenue decline, to $4.8 billion. Comcast Corp. says revenue rose 1.9% if currency changes are taken into account.

Shares jumped 3.6% to $43.35 in morning trading after the cable company's profit topped analyst expectations. Overall, Comcast's net income rose 14% to $3.48 billion, or 76 cents. Analysts polled by FactSet expected 68 cents per share.

Revenue rose 18% to $26.86 billion. Analysts expected $27.21 billion.

  • Associated Categories: Associated Press (AP), AP Business, AP Business - Corporate News, AP Technology News
© Copyright 2019 AccessWDUN.com
All rights reserved. This material may not be published, broadcast, rewritten, or redistributed without permission.
Comcast sheds cable customers but adds internet subscribers
Comcast kept shedding cable customers and adding home internet customers in its most recent quarter
7:21AM ( 4 minutes ago )
The Latest: Dem senators from Biden home states endorse him
Senate Democrats from Joe Biden's twin home states of Delaware and Pennsylvania are endorsing him for president
7:02AM ( 23 minutes ago )
Ex-Vice President Biden launches 2020 presidential campaign
Former Vice President Joe Biden launches 2020 presidential campaign
7:02AM ( 23 minutes ago )
Associated Press (AP)
Nissan ex-chair Ghosn awaiting release on bail
Nissan former chairman Ghosn awaiting release on bail as prosecutors fight to keep him in detention
6:12AM ( 1 hour ago )
Father of suspected Easter bombers arrested; Colombo on edge
The father of two of the Easter suicide bombers has been arrested on suspicion of aiding his sons, according to Sri Lanka's former navy chief, as investigators continue to comb his Colombo mansion for evidence
5:38AM ( 1 hour ago )
Climate activists block entrance to London Stock Exchange
Environmental activists are blocking the main entrance to the London Stock Exchange after gluing themselves to the doorway while wearing LED displays reading "climate emergency."
5:23AM ( 2 hours ago )
AP Business
Possible $5B Facebook fine echoes European tech penalties
Possible $5B Facebook fine echoes European tech penalties
12:47AM ( 6 hours ago )
2 firms first to export LatAm medicinal marijuana to Europe
Companies from Uruguay and Colombia will become the first in Latin America to export medical marijuana products to Europe
9:41PM ( 9 hours ago )
Tesla posts surprisingly large 1Q loss as sales slump 31%
Even though Tesla CEO Elon Musk had prepped Wall Street for a first-quarter loss, analysts weren't ready for the size: $702.1 million, among the worst quarters for the company in the past two years
7:55PM ( 11 hours ago )
AP Business - Corporate News
The Latest: Dem senators from Biden home states endorse him
Senate Democrats from Joe Biden's twin home states of Delaware and Pennsylvania are endorsing him for president
7:02AM ( 23 minutes ago )
Ex-Vice President Biden launches 2020 presidential campaign
Former Vice President Joe Biden launches 2020 presidential campaign
7:02AM ( 23 minutes ago )
Study finds Germans increasingly hostile to asylum-seekers
A study has found that Germans are increasingly hostile toward asylum-seekers, whereas prejudices toward other minorities such as homeless or gay people has declined
6:51AM ( 34 minutes ago )
Sri Lanka Muslims, refugees fear backlash from Easter attack
Muslims, refugees from Pakistan fear reprisal attacks in Sri Lanka after Easter suicide bombings
6:47AM ( 38 minutes ago )
The Latest: Seoul hopeful Putin-Kim talks will help peace
South Korea's president says he believes the Russia-North Korean summit will have a "constructive role" in efforts to achieve complete denuclearization and lasting peace on the Korean Peninsula
6:47AM ( 38 minutes ago )