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Comcast’s Growing High-Speed Internet Customer Base

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Feb. 23 2018, Updated 7:45 a.m. ET

High-speed Internet customers rose in 4Q17

Comcast (CMCSA) witnessed strong growth in its residential business in 4Q17, driven by net additions of high-speed Internet customers. In 4Q17, revenue from high-speed Internet actively contributed to the company’s cable revenues, which make up the bulk of its total revenues. High-speed Internet revenue grew 8.4% to $3.8 billion in the quarter, driven by net additions of 318,000 residential high-speed Internet customers.

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Comcast added customers in 4Q17

Comcast has been delivering robust growth in its high-speed Internet customers, fueled by the rollout of its DOCSIS 3.1 broadband network, which provides super-fast speed to its customers. The company has been taking initiatives to enhance control and coverage and improve the speed with rising broadband penetration in homes. In 2018, the company is optimistic that DOCSIS 3.1 and xFi, its new advanced wireless gateway, will increase its subscriber base. The company is also launching xFi pod extenders to broaden Wi-Fi coverage in homes and the xFi app (application) to offer control.

Looking at other Internet providers

Comcast, the largest cable company, has added more than a million high-speed Internet subscribers in the past three years. It has the largest US Internet subscriber base, with 25.9 million subscribers.

Charter Communications (CHTR), the second-largest cable company, reached 22.5 million broadband customers in 4Q17. Charter and Comcast have been offering superior Internet speed and thus tough competition to cable operators AT&T (T) and Verizon (VZ).

AT&T, which has the third-largest Internet customer base, had 15.7 million broadband customers at the end of December 2017. Verizon, the fourth-largest Internet provider, has 7 million broadband customers.

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