Finance

Comcast Q2 Video Sub Losses Up; Revenue, OCF Beat Estimates

Seasonally weak period sees video losses of 34K, slightly up from last year 7/27/2017 9:35 AM Eastern

Video subscriber losses rose to 34,000 for Comcast in the seasonally weak second quarter, up from a loss of just 4,000 customers last year, while overall operating cash flow growth was its best in six years.

Comcast Cable revenue grew 5.5% in the period, while operating cash flow increased 5.4%, well ahead of analysts’ consensus estimates of 2.6% growth.

While subscriber metrics were slightly behind analyst forecasts – consensus estimates were for a loss of 24,000 video customers and 181,000 high-speed data additions – Comcast managed to raise cable revenue and cash flow by 5.5% and 5.4%, respectively.

High speed data additions in the quarter were 175,000, down from 220,000 in the prior year. Comcast also lost 50,000 voice customers in the period, compared to a gain of 35,000 in Q2 2016.

Related: NBCUniversal Profits Increase 22.6% in Second Quarter

Overall, revenue increased 9.8% and adjusted cash flow rose 10%, fueled by strong growth at its film unit and NBC Universal, which saw a revenue increase of 17.3% and cash flow gains of 22.6% in the period.

In a statement Comcast chairman and CEO Brian Roberts said the cash flow growth was the fastest in six years for the company, and praised his team.

“Our teams continue to execute incredibly well and I am excited about the opportunities ahead for Comcast NBCUniversal,” Roberts said in a statement.

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