Stocks/Earnings

Comcast Adds 53K Video Subs in Q1

Best Q1 video growth in 9 years 4/27/2016 8:00 AM Eastern

Comcast continued its streak of improved video customer growth, adding 53,000 video subscribers in the seasonally strong first quarter, it's best Q1 video growth in nine years.

High-speed Internet customers rose by 438,000, the best Q1 in that customer segment in four years.

The strong subscriber additions also bolstered financial growth -- cable revenue was up 6.7% and operating cash flow rose 5% in the period.

 

On the programming side, revenue at NBC Universal rose 3.9% in the period while operating cash flow rose 10%. Consolidated revenue was up 5.3%, driving overall OCF growth up 6.9%.

 

"I'm incredibly pleased with our first quarter results and the strength and momentum we are seeing across our businesses," Comcast chairman and CEO Brian Roberts said in a statement. "Our performance at Comcast Cable was outstanding. We delivered our best first quarter Internet results in four years and our best first quarter video results in nine years - adding 53,000 video customers. NBCUniversal also had a terrific quarter, reporting double-digit operating cash flow growth, fueled by strength in Broadcast, continued success at our Theme Parks, including Universal Studios Japan, and improved performance from our Cable Networks. Our teams are executing extremely well and I am excited about the opportunities ahead for Comcast NBCUniversal."

Want to read more stories like this?
Get our Free Newsletter Here!