updated 12:04 pm EDT, Tue July 22, 2014
Company loses only 25,000 customers in the quarter versus 66,000 YAQ
Joining the chorus of quarterly earnings reports, Comcast has released its own figures. The company is reporting consolidated revenue for the second quarter increased 3.5 percent to $16.8 billion, with earnings per share at $0.76, a a 16.9 percent increase from the $0.65 reported in the second quarter of 2013.
Capital expenditures increased 19.4 percent to $1.8 billion in the second quarter of 2014 compared to the year-ago quarter. The company's Cable Communications division's capital expenditures increased $253 million, or 20.4 percent, to $1.5 billion in the second quarter of 2014, primarily reflecting increased spending on customer equipment related to the deployment of the X1 platform and Cloud DVR.
The company is also reporting a decrease in customers for the quarter, losing 25,000 subscribers, cutting the total installed base to 26.8 million. Comcast is calling it a victory, as this is an improvement over the 66,000 it lost in the second quarter of 2013. However, retained customers are shifting to "Triple Play" bundles, adding to the company's bottom line more than the departures are subtracting from it.