Comcast expected to post Q1 revenue gain despite video subscriber losses

Wall Street analysts said recent rate hikes will help Comcast (Nasdaq: CMCSA) post increased revenue for the first quarter when it reports earnings Wednesday, but that the nation’s largest cable MSO will report that it dropped basic video subscribers during the period.

Comcast is expected to post earnings per share of 50 cents for the first quarter, up a nickel compared to this time last year, according to analysts polled by Thomson Reuters.

The MSO will likely report that it dropped 30,000 video subscribers and gained 439,000 cable modem customers, said Pacific Crest Securities analyst Andy Hargreaves. The video subscriber losses would be an improvement compared to the 39,000 that Comcast lost during the first quarter of 2012.

Comcast has gone through several key changes in the last year. The Department of Justice didn’t sign off on its its spectrum, marketing and innovation pact with Verizon Wireless (NYSE: VZ) until last summer. It now markets bundles of digital cable and mobile phone service with Verizon in dozens of markets. Comcast also launched its Xfinity X1 platform last May, and now sells the advanced digital cable product in several major markets, including Atlanta, Boston, Denver and San Francisco.

Look for Comcast CEO Brian Roberts to give analysts an update Wednesday on the planned rollout of X2, the next version of Comcast’s cloud-based interactive video platform. Comcast is scheduled to release its Q1 report early Wednesday and scheduled its earnings call for 8:30 a.m. ET.

For more:
Investors Business Daily has this story
- the AP has this story
International Business Times has this story

Special Report: Cable in the first quarter of 2013

Related articles:
Comcast banks on rate hikes, cable modems, voice service to counter increased programming costs
Comcast: New Xfinity Wireless Gateway can hit speeds of 270 Mbps
Roberts: Comcast will unveil new version of Xfinity X1 platform at The Cable Show

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