Comcast signs up more cable TV subscribers, bucking the cord-cutting trend

Author: 
Coverage Type: 

Cable television company Comcast gained customers in the third quarter, bucking industry trends, and its broadcast of the Rio Summer Olympics hauled in $1.6 billion in revenue. Comcast announced that it gained a net 32,000 cable television subscribers during the July-through-September quarter, compared with a loss of 48,000 in the same quarter in 2015. The industry leader also gained 330,000 high-speed Internet customers, a slight increase over the year-earlier quarter. Comcast now has 28 million customers.

The company’s stock, however, was down $1.59, or 2.5%, to $62.94 around 8:30 a.m. Pacific time. Wall Street analysts have been eager to hear whether AT&T’s blockbuster $85.4-billion deal to buy Time Warner Inc. might prompt Comcast to rush out and buy a wireless phone company such as T-Mobile or Sprint to achieve the same kind of scale. Over the years, Comcast has been more acquisitive than most media conglomerates, buying entertainment company NBCUniversal in 2011 and DreamWorks Animation last summer.


Comcast signs up more cable TV subscribers, bucking the cord-cutting trend Comcast Adds 32K Video Subs in Q3 (Multichannel News)