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Comcast hurt by steeper-than-expected video subscribers losses
July 22, 2014 / 11:01 AM / 3 years ago

Comcast hurt by steeper-than-expected video subscribers losses

July 22 (Reuters) - Comcast Corp, the largest U.S. cable operator, reported quarterly revenue that fell below analysts’ estimates, mainly due to higher-than-expected video subscriber losses.

Net income attributable to Comcast rose to $1.99 billion, or 76 cents per share, in the second quarter ended June 30, from $1.73 billion, or 65 cents a share, a year earlier.

Revenue rose 3.5 percent to $16.84 billion. Analysts on average expected $16.95 billion, according to Thomson Reuters I/B/E/S.

The company reported a net loss of 144,000 video subscribers in quarter. Analysts expected a loss of 123,000, according to market research firm StreetAccount. (Reporting by Soham Chatterjee; Editing by Savio D‘Souza)

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