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Mixed Q3 For Comcast

Cable revenue up 5.2%, but video losses slightly rise in quarter 10/30/2013 09:27:17 AM Eastern

Basic video customer losses were up slightly at Comcast in the third quarter, as revenue and cash flow growth appeared in line for the nation's largest MSO.

Comcast reported a loss of 129,000 basic video customers in the period, up from the 117,000 it lost in the prior year. Most analysts had expected losses of about 100,000. High-speed data additions were 297,000 in the period and phone customers increased by 169,000.

Revenue for the cable operations was up 5.2% and cash flow rose 6.2%. For the combined company, revenue was down 2.9% to  $16.2 billion and operating cash flow increased 6.4% to $5.3 billion.

At NBC Universal, revenue dipped 14.2% to $5.9 billion and OCF increased 9.6%.

"Our businesses generated strong revenue and cash flow growth and record free cash flow for the third quarter," Comcast chairman and CEO Brian Roberts said in a statement. "Cable's results highlight the underlying strength of our residential and business services. We are driving innovation, expanding our service offerings, and bringing new and rich content to more platforms than ever before. NBCUniversal delivered solid performance in every one of its segments, with healthy growth in revenue and double-digit cash flow growth, adjusting for the results of the Olympics last year. Comcast NBC Universal has real momentum and many opportunities ahead."

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