Comcast Revenue Beats Expectations, but Video Subs Dive
Comcast beats 3rd quarter projected revenue and earnings per share, but the gain is even-handed by a loss of 275,000 video subs, experiencing a 4% increase compared to the loss the previous quarter. This is by far the most significant plunge since the recession started. It went down as far as 22.9 million, and is its lowest point in years. The company has an accumulated 622,000 video subs loss in 2010.
On the other hand, Comcast increased some of its digital video subs — the profitable ones. Subs getting advanced videos escalated by half of digital subs. Per video sub average revenue is rising from $117.54 to $129.75 compared the same quarter in 2009.
Despite the depletion of videos, it managed to have an additional 249,000 high-speed data subs, closing at 16.7 million. Also, Comcast has a lot of catching up to do with competitors NBC.com CBS.com, Hulu and Netflix, and just recently launched Xfinity TV to keep with rivals’ pace.
Much of the company’s revenue increase is credited to corporate overhead. Corporate revenue surged by 50%to $92 million. This is upshots of acquisition, and revenue growth at Comcast-Specator. Loss is towering as well, by 13% at $118 million because of a $21 million expense caused by an NBC Universal pendent deal.
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