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FILE - This Jan. 24, 2019, file photo shows a Comcast truck in Pittsburgh. Comcast Corp. reports earns on Thursday, April 25. (AP Photo/Gene J. Puskar, File)

Comcast sheds cable customers but adds internet subscribers

 By The Associated Press  April 25, 2019 at 4:21am
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PHILADELPHIA (AP) — Comcast kept shedding cable customers and adding home internet customers in its most recent quarter.

Traditional TV providers are losing customers at an increasing rate while streaming companies pop up seemingly every few weeks . To deal with that industry shift online from cable, Comcast has focused on growing its broadband business while integrating streaming apps into its cable box. It is also launching its own NBCUniversal streaming service in 2020.

It’s a crowded market. Disney , Apple and AT&T are also launching new streaming services as younger people turn away from the traditional cable bundle.

In the January-March quarter, Comcast added 375,000 internet customers and lost 121,000 video customers.

NBCUniversal’s revenue dropped 12.5% to $8.31 billion. Last year, the entertainment division got a big boost from the live sports extravaganzas of the Super Bowl and the Winter Olympics, both aired on NBC. Those live sports events pull in more viewers than usual and get more money from advertisers. Within NBCUniversal, a bright spot was movies, where revenue rose 7%.

The company’s new Sky division in Europe, which it bought last year, posted a 5% revenue decline, to $4.8 billion. Comcast says revenue rose 1.9% if currency changes are taken into account.

Overall, Comcast’s net income rose 14% to $3.48 billion, or 76 cents. Analysts polled by FactSet expected 68 cents per share.

Revenue rose 18% to $26.86 billion. Analysts expected $27.21 billion.

The Western Journal has not reviewed this Associated Press story prior to publication. Therefore, it may contain editorial bias or may in some other way not meet our normal editorial standards. It is provided to our readers as a service from The Western Journal.

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The Associated Press
The Associated Press is an independent, not-for-profit news cooperative headquartered in New York City. Their teams in over 100 countries tell the world’s stories, from breaking news to investigative reporting. They provide content and services to help engage audiences worldwide, working with companies of all types, from broadcasters to brands. Photo credit: @AP on Twitter
The Associated Press was the first private sector organization in the U.S. to operate on a national scale. Over the past 170 years, they have been first to inform the world of many of history's most important moments, from the assassination of Abraham Lincoln and the bombing of Pearl Harbor to the fall of the Shah of Iran and the death of Pope John Paul.

Today, they operate in 263 locations in more than 100 countries relaying breaking news, covering war and conflict and producing enterprise reports that tell the world's stories.
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