Comcast continues to lose its US cable customers, but gained more Internet subscribers and received a revenue boost from Sky, its big bet on European television.
The Philadelphia-based company said Wednesday In the fourth quarter, the company lost 29,000 US cable customers, but increased to 351,000 Internet customers. She also gained clients in the new mobile business.
The company is facing a growing number of people cutting their cable harnesses to save money. A number of companies have joined forces with Netflix to provide cheaper streaming services.
Also Comcast wants to compete there. Next year, a streaming service will be launched, approaching the crowded field that is competing for consumer attention.
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She is also looking overseas for growth. Completed in October after a dramatic tug-of-war between US entertainment companies Walt Disney Co. and 21
Comcast said Wednesday its net profit fell 83 percent to $ 2.51 billion, or 55 cents a share. A big tax benefit from the change in the tax code in 2017 weighed on this year's result.
Excluding tax changes, adjusted earnings per share were 64 cents. Analysts surveyed by FactSet expected 62 cents per share.
Total revenue increased 26 percent to $ 27.85 billion, resulting in a significant increase due to the newly acquired Sky system.
The radio and cable television networks in NBCUniversal also achieved sales growth despite slow advertising revenues. The movie business was released by "The Grinch" in November.