News Column

Comcast's 2Q income rises 15%

July 22, 2014

By Mike Snider, @mikesnider, USA TODAY

Cable and Internet provider Comcast said Tuesday that growth in its home Net business helped boost its second-quarter net income 15% to $1.99 billion.

Its adjusted earnings per share of 75 cents beat analysts' estimates of 72 cents. Revenue grew 3.5% to $16.8 billion, falling short of analysts' estimates of $16.9 billion. The stock closed at $54.63, up 81 cents, or 1.5%, Tuesday.

Cable revenue grew 5.4% to $11 billion from $10.5 billion, and it added 203,000 broadband customers. The exodus of cord cutters slowed, with a decline of 144,000 video customers, the second-best result in six years.

Overall, Comcast has 26.8 million customers after losing 25,000 during the second quarter -- an improvement of 62%, compared with 66,000 lost during the second quarter of 2013. However, the company increased its number of triple-play customers -- those who have cable TV, Internet and phone service -- to 36% of its customer base, up from 34% last year. Overall, Comcast has 9.7 million triple-play customers.

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Source: USA Today

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