Comcast

According to Comcast's 3rd quarter 2022 report results, Comcast delivered solid growth in adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) and adjusted earnings per share (EPS), generated significant free cash flow, invested in the businesses’ future, and returned a record amount of capital to our shareholders. In cable, the company grew adjusted EBITDA by more than 5% and achieved its highest adjusted EBITDA margin on record despite a challenging competitive environment. Additionally, Comcast experienced the following highlights in broadband:

Comcast is boosting internet speeds for more than 20 million of its Xfinity broadband customers, doubling the download rate on one of its lower tier plans and increasing the speed by 33% on two others. All told, it is bumping up speeds on five service tiers across its territories. Users on Comcast’s Performance/Connect More plan (the name varies by region) will see the biggest jump, with their download rate doubling from 100 Mbps to 200 Mbps. Speeds on the base Performance Starter/Connect plan are getting a 50% increase from 50 Mbps to 75 Mbps.

Comcast failed to gain broadband subscribers for the first time in its history. Comcast had 32.16 million subscribers at the end of the second quarter, the exact same number it had at the end of the first. The company lost about 10,000 net broadband residential subscribers compared with the first quarter, while it added about 10,000 business-services broadband customers. Despite the broadband-subscriber slowdown, company executives said there have been few broadband customers leaving Comcast. In past quarters, the company has attributed the slowdown to fewer people changing homes.

Comcast added 262,000 high-speed internet customers in the first quarter 0f 2022. Revenue increased 4.7% to $16.5 billion in the first quarter of 2022, driven by increases in broadband, business services, wireless, advertising, and other revenue, partially offset by decreases in video and voice revenue. Broadband revenue increased 8.0% due to an increase in the number of residential broadband customers and an increase in average rates. Wireless revenue increased 32.0%, primarily due to an increase in the number of customer lines.

Comcast announced that it has increased speeds for its most popular Xfinity Internet tiers, providing an extra boost for millions of residential customers across 14 northeastern states from Maine through Virginia and Washington (DC).

After hitting historic peaks in 2020, traffic on the Comcast network grew again in 2021. Data show a gradual shift throughout the year toward pre-pandemic traffic patterns. This included peak downstream traffic once again increasing faster than upstream traffic, and peak usage times shifting from earlier in the day to later in the evening. Peak downstream (download) traffic increased 11 percent over 2020 levels, while peak upstream (upload) traffic increased 5 percent.

Comcast is participating in the federal government’s Affordable Connectivity Program (ACP) and the $30/month benefit can be applied to any tier of Xfinity Internet service. On March 1, Comcast introduced two new ways for customers to connect through the ACP and both are available to any customer who qualifies in all the company’s service areas. Customers can sign up for Internet Essentials Plus, which includes 100 Mbps download speeds, a cable modem, and WiFi router, and is free after the government’s ACP credit is applied.