17 Jun

Why Comcast Is Focusing on Broadband Customers

WRITTEN BY Sneha Nahata

Comcast’s broadband customers 

Cable giant Comcast (CMCSA) has shifted its focus to high-speed Internet, where it is gaining traction amid pay-TV decline. Comcast lost 107,000 residential video customers and 121,000 video customers in Q1 2019.

In the first quarter of 2019, Comcast’s high-speed Internet revenue grew 10.1% YoY (year-over-year), driven by a net addition of 375,000 high-speed internet customers, which comprised 352,000 high-speed residential Internet additions and 23,000 high-speed business Internet additions.

Why Comcast Is Focusing on Broadband Customers

Pay-TV companies losing residential video customers

Companies have been struggling to maintain their US pay-TV subscriber base as they face cord-cutting. In the first quarter, US wireless mobile carriers Verizon and AT&T lost more than analysts expected—AT&T lost 544,000 premium TV subscribers (including DIRECTV and U-verse customers), while Verizon lost 53,000 Fios video customers. Telecom peer Frontier lost 54,000 customers in Q1 2019, cable giant Dish Network lost 259,000 pay-TV subscribers, and Charter lost 145,000 total video customers.

Latest articles

CrowdStrike (CRWD) fell 9.5% today to close at $54.52. Analyst Walter Pritchard initiated coverage on CRWD with a “sell” rating and a target price of $43.

Micron (MU) stock was up 4.21% on Friday and closed at $45.10. MU was trading 12.2% below its 52-week high of $51.39 for a market cap of $49.9 billion.

Top utility stocks trended lower and lost 1.3% last week. Broader markets were positive but cautious on trade talk optimism, gaining 0.7% last week.

Analyst Ming-Chi Kuo expects Apple to launch the iPhone SE2 in Q1 2020. Priced at $399, it could help Apple gain traction in India and Southeast Asia.

Disney-owned Hulu plans to introduce video downloads, which Netflix has offered for three years. Disney hopes to narrow Netflix’s competitive advantage.

Ireland’s privacy watchdog has concluded its investigation into Facebook over its compliance with the European Union’s data protection law.