GNG News Guy
05-01-2008, 10:04 AM
http://i.dslr.net/urls/90/13090.gif (http://www.dslreports.com/shownews/Comcast-First-Quarter-Results-94043)
Comcast released their first quarter earnings (http://biz.yahoo.com/prnews/080501/neth001a.html) this morning, which show the cable giant saw a 12.5% drop in first-quarter net profit and a loss of 57,000 basic video subscribers. While analysts might be quick to suggest FiOS is to blame, the profit decline is thanks to a $300 million one-time gain the company posted last year at this time as they dissolved a partnership with Time Warner Cable (and gained Houston markets). The company saw a 14% overall revenue bump.
Broadband growth was strong but slowing, with the company adding 492,000 new broadband subscribers for the quarter, down 16% from last year. Digital cable growth was also slower than expected, with the company adding 494,000 subscribers compared to last year's 658,000. One are Comcast continued to dominate was VoIP; the nation's largest VoIP outfit adding 639,000 new customers, up 9% from last year.
According to Comcast's numbers, users spent $63.46 on average for cable TV, a jump up from $59.97 this time last year -- resulting in a 5% jump in Cable TV revenue to $4.71 billion. Comcast faced tougher competition on the broadband front, where the average customer pays $42.18, a drop from last year's $43.08. Broadband revenue jumped 12% to $1.75 billion. Again the real growth was VoIP; the average customer paying $40.24, down from $42.44, with Comcast VoIP revenue doubling to $573 million.
The results generally indicate the status quo: Comcast continues to see some video losses to FiOS, but they're more than compensating with strong VoIP growth as users ditch their landlines.
read comment(s) (http://www.dslreports.com/shownews/Comcast-First-Quarter-Results-94043)
Comcast released their first quarter earnings (http://biz.yahoo.com/prnews/080501/neth001a.html) this morning, which show the cable giant saw a 12.5% drop in first-quarter net profit and a loss of 57,000 basic video subscribers. While analysts might be quick to suggest FiOS is to blame, the profit decline is thanks to a $300 million one-time gain the company posted last year at this time as they dissolved a partnership with Time Warner Cable (and gained Houston markets). The company saw a 14% overall revenue bump.
Broadband growth was strong but slowing, with the company adding 492,000 new broadband subscribers for the quarter, down 16% from last year. Digital cable growth was also slower than expected, with the company adding 494,000 subscribers compared to last year's 658,000. One are Comcast continued to dominate was VoIP; the nation's largest VoIP outfit adding 639,000 new customers, up 9% from last year.
According to Comcast's numbers, users spent $63.46 on average for cable TV, a jump up from $59.97 this time last year -- resulting in a 5% jump in Cable TV revenue to $4.71 billion. Comcast faced tougher competition on the broadband front, where the average customer pays $42.18, a drop from last year's $43.08. Broadband revenue jumped 12% to $1.75 billion. Again the real growth was VoIP; the average customer paying $40.24, down from $42.44, with Comcast VoIP revenue doubling to $573 million.
The results generally indicate the status quo: Comcast continues to see some video losses to FiOS, but they're more than compensating with strong VoIP growth as users ditch their landlines.
read comment(s) (http://www.dslreports.com/shownews/Comcast-First-Quarter-Results-94043)