Comcast video business sets subs soaring
Michelle Clancy | 23-04-2014
Bucking the general cable trend, Comcast has added video subscribers for the second consecutive quarter, driving revenue up 13.7% year-over-year, to $17.4 billion.
In all, Comcast added 24,000 paying television subscribers. Revenue specifically from cable TV services was up slightly, to $5.2 billion. Operating income was up 16.3%, to $3.6 billion year-over-year.
Comcast, meanwhile, added 383,000 high-speed Internet customers; revenue from Internet services was up 9%, to $2.8 billion. The MSO's home telephone business grew by 142,000 customers, raising revenue to $920 million for the quarter.
When it came to NBCUniversal, overall revenue was up 28.8%, to $6.9 billion, partially on the back of the Winter Olympics, which NBC broadcast in February. NBCUniversal revenue was up 8.1% when the Games are excluded.
And finally, releases of Ride Along and Lone Survivor, along with the international release of the Wolf of Wall Street, drove the company's film division revenue up 11.1%, to $1.4 billion.