The future of cable companies is broadband, and they know it. Comcast on Wednesday reported its second-quarter financials, which were solid if not spectacular like Facebook’s earnings. The company reported revenues of $16.27 billion for the three months ending June 30, 2013, up 7 percent from the same quarter a year ago, when it brought in $15.21 billion.
Comcast reported that it had 187,000 net new additions to its broadband customer base during the three months, bringing the total to 19.986 million customers. A year ago, the company had 18.738 million customers — that is a gain of 1.248 million customers. During the three month period ending June 30, 2013, Comcast had high-speed revenues of $2.569 billion, up from $2.38 billion in the three month period ending June 2012.
During the fist six months of 2013, the broadband business brought in $5.092 billion, up 8.3 percent from $4.703 billion in the same six-month period last year.
The company also lost 159,000 video customers during the quarter — and is down 342,000 customers from a year ago. The video revenues inched up 3.2 percent to $10.288 billion, probably from price hikes to mask the decline in customers.
|High-Speed Internet Customers||18,738||19,986||156||187|
|Combined Video, HSI and Voice Customers||50,521||52,089||138||189|