Comcast posts strong 3Q19 results; cable revenue jumps 4%

25 Oct 2019

Comcast Corporation has reported revenues of USD26.8 billion for the three months ended 30 September 2019, up 21.2% on an annualised basis. The lion’s share of the sales were generated by the company’s ‘Cable Communications’ division, which comprises its Xfinity-branded US cable business. Cable revenues climbed 4.0% in 3Q19, to reach USD14.6 billion, driven by its broadband products, which saw sales increase 9.3% year-on-year, to USD4.7 billion.

In operational terms, Comcast reported 28.186 million broadband customers at end-September, alongside 21.403 million pay-TV users and 11.278 million VoIP subscribers. In addition, Comcast’s fledgling MVNO, Xfinity Mobile, reached 1.791 million subscribers, following net additions of 204,000 in 3Q19. Comcast’s UK subsidiary, Sky, saw its total customer relationships increase 2.1% y-o-y, to reach 23.918 million.

Brian L. Roberts, chairman and CEO of Comcast, commented: ‘We delivered excellent results in the third quarter, surpassing 55 million customer relationships and generating strong pro forma growth in adjusted EBITDA and double-digit growth in adjusted EPS. We continued our long track record of highly profitable growth, while also investing in our businesses to further strengthen our leading competitive position. Cable had its highest third quarter broadband net additions in ten years, which drove its best quarterly net additions in total customer relationships on record.’

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