Comcast today announced that its Q1 2014 revenue increased 13.7 percent to $17.4 billion. Income rose 16.3 percent to $3.56 billion.
Cable Communications revenue increased 5.3 percent.
The company added 124,000 cable customers to 26.8 million.
Comcast added 24,000 video customers in the first quarter of 2014.
The company added 383,000 high-speed Internet customers; Revenue growth of 9.0 percent is the strongest rate of growth in two years, said Comcast.
Business services revenue rose 23.9 percent and approaching a $4 billion annual run-rate.
NBCUniversal revenue grew 28.8 percent.
Broadcast revenue rose 17 percent. The Sochi Olympics generated over $1.1 billion in revenue.
“Our operating momentum is continuing as we enter 2014 and is highlighted by our second consecutive quarter of video customer growth, as well as strength in high-speed Internet and business services,” said Brian L Roberts, chairman and CEO of Comcast.
Capital expenditures (Capex) increased 6.4 percent to $1.4 billion in the first quarter of 2014.
Cable Communications’ capital expenditure increased 4.6 percent to $1.1 billion, primarily reflecting increased spending on customer premise equipment related to the deployment of the X1 platform and wireless gateways.
Cable capital expenditures represented 10.6 percent of cable revenue in the first quarter of 2014 compared to 10.7 percent in last year’s first quarter.
NBCUniversal’s capital expenditures increased $28 million to $291 million, primarily reflecting increased investments in Theme Parks and facilities.
