US cable operator Comcast reported revenues up 2.9 percent to USD 15.31 billion in the first quarter, compared to USD 14.88 billion in the year-earlier period. The company’s operating income increased by 11.2 percent to USD 3.1 billion from USD 2.76 billion. Net profit increased to USD 1.44 billion from USD 1.22 billion. Earnings per share rose by 20 percent to USD 0.54, or by 13.3 percent to USD 0.51, excluding a gain on the sale of wireless spectrum licences.
Comcast increased its capital expenditure by 15.9 percent to USD 1.4 billion, year-on-year. Capex on cable communications rose by 3.6 percent to USD 1.1 billion, mainly reflecting the company’s ongoing investment in its network and the expansion of business services and Xfinity Home.
Revenue for cable communications rose by 6.5 percent to USD 10.2 billion, including video up 3.7 percent to USD 5.11 billion, broadband internet up 8.6 percent to USD 2.53 billion, voice up 2.6 percent to USD 900 million, business services up 27.5 percent to USD 741 million and advertising up 2.7 percent to USD 488 million. ARPU per video customer rose by 8.1 percent to USD 155.05 a month, reflecting higher prices, an increasing number of multi-play residential customers and a higher contribution from business services.
Comcast lost 60,000 video customers in the first quarter, ending the period with 21.94 million. The broadband customer base grew by 433,000 to reach a total of 19.8 million. Voice customers grew by 211,000 to reach 10.17 million at the end of March. Combined video, broadband and voice customers grew by 583,000, reaching a total of 51.9 million.
Comcast broadcaster NBC Universal saw revenues fall by 2.4 percent to USD 5.34 billion, compared to USD 5.5 billion in the first quarter of 2012, when it earned USD 259 million of advertising revenue from carrying the Super Bowl.
