Cable Drives Q1 Revenue, Cash Flow Gains at ComcastBut MSO's quarterly streak of video sub improvements snapped at nine 5/01/2013 12:17:38 PM Eastern
Revenue and operating cash flow grew at a healthy clip in the first quarter for Comcast, but the nation's largest cable operator snapped its nine-quarter string of basic video subscriber improvement, losing nearly twice the amount of video customers than in the prior year.
"We are off to a solid start in 2013, with strong revenue and cash flow growth and record quarterly free cash flow. Cable's results highlight revenue growth in every product, led by Video and High-Speed Internet, and overall customer growth, as we continue to effectively balance financial and customer performance," Comcast chairman and CEO Brian Roberts said in a statement.
Overall revenue increased 2.9% to $15.3 billion and operating cash flow was up 7.4% to $5 billion in the period, driven primarily by strong growth at its cable operations and networks. Excluding $259 million in revenue generated by the NFL Super Bowl in 2012, revenue increased 4.7% in the period.