Comcast has lost 139,000 broadband customers in the fourth quarter due to competition from telecom operators that have been bundling 5G mobile services with internet plans.
Comcast was also hurt by Hurricanes Milton and Helene that disrupted Florida businesses during the quarter.
In Q4, capital expenditure of Comcast rose 17.9 percent to $3.9 billion. Connectivity & Platforms’ capital expenditures grew 25.5 percent to $2.6 billion, primarily reflecting higher spending on scalable infrastructure, line extensions and customer premise equipment.
In 2024, Connectivity & Platforms capital expenditures were $8.3 billion. Content & Experiences’ capital expenditures increased 6.3 percent to $1.3 billion, reflecting spending due to the construction of Epic Universe theme park in Orlando.
Comcast plans to introduce new pricing packages for upgraded markets in the coming months that bundle wireless and internet, Comcast president Mike Cavanagh said in a conference call post earnings.
Comcast is adopting a strategy similar to that of wireless carriers such as AT&T and Verizon, which aim to increase their market share by attracting customers with discounted premium plans that bundle 5G mobile services with high-speed internet.
Comcast’s total revenue rose 2.1 percent to $31.92 billion, aided by its studio business.
Its cable TV networks lost 311,000 users due to cord-cutting by consumers shifting to streaming.
