Comcast boasts more Internet subscribers than those who have signed up for cable TV packages from the company.
Photograph by Joe Raedle — Getty Images
By Benjamin Snyder
May 4, 2015

Comcast now boasts more Internet subscribers than those who have signed up for cable TV from the company, it reported in its quarterly results on Monday. As the largest cable provider in the nation, Comcast recently halted plans to buy Time Warner Cable for over $45 billion.

According to Bloomberg, Comcast’s numbers of Internet subscribers are as follows:

The company signed up 407,000 new Internet customers in the quarter, 6.2 percent more than it did a year earlier. The number also topped the 377,000 average prediction of six analysts’ estimates compiled by Bloomberg.

This is the first quarter in which there are less cable-TV subscribers than the number of Internet subscribers. The article continued:

The company is trying to add more broadband customers as the number of Americans signing up for cable-TV packages slows and more programming is offered through online services, such as Netflix Inc., prompting some people to cancel their cable service.

Comcast lost 8,000 cable subscribers in the quarter, after adding 24,000 a year earlier. Analysts anticipated a gain of 7,500, on average.

Comcast reported earnings of 79 cents per share, while analysts anticipated earnings of 74 cents per share. For more coverage of the failed Comcast and Time Warner Cable merger on Fortune.com, see here.

SPONSORED FINANCIAL CONTENT

You May Like

EDIT POST