As Comcast® recently reported strong financial results for the third quarter of 2018, it also revealed that the wireless service titled XFINITY Mobile® has over 1 million customers. The company launched the MNVO service, which relies on the network of the wireless provider Verizon®, in May 2017. In the second quarter, it added 228,000 fresh subscriber lines.
On a recent earnings call, the Chief Financial Officer of Comcast®, Michael Cavanagh, said the operator is pleased with its wireless growth thus far. According to a transcript, he said, “While it’s still relatively early, the results we see are supportive of our key objectives when we entered the wireless business, including deepening the relationship with and improving the retention of broadband customers, attracting new broadband customers, and generating positive standalone economics once we reach scale.”
The best internet provider reported strong residential broadband customer metrics, adding 334,000 subs, up from the gain of last year. The overall high-speed internet subscriber net additions stood at 363,000, which brought the overall broadband customer base of the company to 26.87 million.
The carrier’s broadband revenues were up. The residential broadband average revenue per user is increasing by 4.5 percent year over year, as per MoffettNathanson analysts, who also said this segment accounts for about a third of Comcast’s cable revenues.
The company recently announced that its gigabit internet service, powered by DOCSIS 3.1, is accessible across most of its footprint, and that 75 percent of residential XFINITY® subs are choosing 100 Mbps or higher speeds. Video losses of the company were less than expected, with it shielding 106,000 subs in Q3, which was better than forecasted losses by the analysts.
Comcast® saw its cable revenues increase 3.4 percent to a reportedly 13.78 billion, comprising business services revenues, which increased 10.6 percent to a reportedly $1.8 billion. Its automation and security division added 42,000 subscribers, bringing the sum to 1.27 million. Overall, it reported a net income of $2.88 bn and revenue of $22.13 bn.
The CEO of Comcast®, Brian Roberts, said, “This is an exciting and important time in Comcast’s history. To highlight a few of the achievements in our businesses this quarter, Comcast® Cable’s EBITDA growth was the fastest in six years, and customer relationship growth accelerated, driven by the best broadband net additions for a third quarter in ten years.”