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Comcast Lost 487,000 Q1 Pay-TV Subs, Almost 2 Million Subs Over the Past 12 Months

Comcast Lost 487,000 Q1 Pay-TV Subs, Almost 2 Million Subs Over the Past 12 Months

Comcast April 25 reported a loss of 487,000 pay-TV subscribers in the first quarter (ended March 31) to end the fiscal period with 13.6 million cable subscribers, compared with 15.5 million subs in the previous-year period. The former No. 1 cable TV operator lost almost 2 million subscribers over the past 12 months.

At the same time, Comcast lost 65,000 high-speed internet subscribers, to end the fiscal period with 32.2 million broadband subs. The company added 5,000 broadband subscribers in the previous-year period. Over the past 12 months on the fiscal calendar, Comcast has lost 136,000 broadband subscribers.

The company’s lone bright spot was increased customer connectivity speeds due to the rollout of a fiber-based network across 60 million homes and businesses across the country.

“We grew broadband average revenue per user (ARPU) more than 4%, delivered 7% revenue growth in our connectivity businesses, and expanded our adjusted pre-tax earnings margin across connectivity & platforms,” Comcast CEO Brian Roberts said in a statement.

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