Comcast posts strong third quarter; says Sky takeover makes it a ‘unique global leader’

26 Oct 2018

Comcast Corporation has reported revenues of USD22.1 billion for the three months ended 30 September, up 5% on an annualised basis. The lion’s share of the sales were generated by the company’s ‘Comcast Cable’ division, which comprises its Xfinity-branded US cable business. Cable revenues climbed 3.4% in 3Q18, to reach USD13.8 billion, driven by its broadband products, which saw sales increase 9% year-on-year, to USD4.3 billion. In operational terms, Comcast reported 26.871 million broadband customers at end-September, alongside 22.015 million pay-TV users and 11.447 million VoIP subscribers. In addition, Comcast’s fledgling MVNO, Xfinity Mobile, passed the one million subscriber mark, following net additions of 228,000 in 3Q18.

Brian L. Roberts, chairman and CEO of Comcast, commented: ‘This is an exciting and important time in Comcast’s history. To highlight a few of the achievements in our businesses this quarter, Comcast Cable’s EBITDA growth was the fastest in six years, and customer relationship growth accelerated, driven by the best broadband net additions for a third quarter in ten years … Our recently completed acquisition of Sky is transformative for our company, helping create a unique global leader in media, technology, television and broadband.’

TeleGeography notes that Comcast completed the acquisition of 39.12% of UK pay-TV/broadband provider Sky on 9 October, and its GBP17.28 (USD22.34) per share buyout offer duly received acceptances from shareholders representing more than 75% of the British firm’s voting rights.

United States, Comcast Corp (Xfinity, incl. Xfinity Mobile), Sky, Xfinity Mobile