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Comcast offsets video losses with business, wireless, and broadband

Comcast continues to add customers even as the traditional bundle shifts dramatically.
Written by Larry Dignan, Contributor

Comcast added 372,000 net customers in the fourth quarter as it continues to navigate the shifting cable bundle, which means fewer video subscribers offset by broadband, business, and wireless additions.

The cable, technology, and media giant, which is expected to talk extensively about its Peacock streaming service, the company delivered 1.13 million net customer additions for 2019. In that mix, Comcast lost 133,000 residential video customers in the fourth quarter but added 424,000 broadband subscribers.

In addition, Comcast said it added 261,000 wireless lines in the fourth quarter and now has more than two million wireless lines.

By revenue in the fourth quarter, Comcast's high-speed Internet services showed growth of 8.8% with wireless up 39.4% and business services up 8.8%.

Comcast CEO Brian Roberts noted the cable unit is differentiating its broadband service with security and smart home services as well as xFi.

Overall, Comcast reported fourth-quarter revenue of $28.4 billion, up 2% from a year ago, with earnings per share of 68 cents. Non-GAAP earnings were 79 cents a share and 2 cents a share ahead of expectations. For the year, Comcast reported a net income of $13.06 billion or $2.83 a share, on revenue of $108.9 billion, up 15.3%.

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