(Image: Wall Street Journal)
BY DAVID EARL
ANCHOR ANA COMPAIN-ROMERO
To Xfinity and beyond. That might be one of the shouts of joy you’ll hear around Comcast’s corporate offices these days. Here’s the headline from Forbes.
“For Q4, the cable and entertainment giant posted revenue of $15.04 billion, up 54.7% from a year ago, reflecting the acquisition of NBCUniversal … Profits of 47 cents a share were well ahead of the Street at 41 cents.”
CNBC sat down with Comcast’s CEO. He’s seeing tremendous growth in the company’s broadband product: Xfinity.
“We really had a great quarter on Xfinity products...It’s the sixth straight year we’ve added over a million broadband customers. I think America’s in love with broadband.”
So, America is simply in love with the Comcast product. How can you mess that up? But, MarketWatch says there are even more factors playing into Comcast’s positive performance.
“Out of the blue, Comcast slashed its video-subscriber losses to 17,000 from 135,000 in the fourth-quarter of 2010. … Comcast’s Xfinity service, which lets subscribers watch video on tablets and other mobile devices, now has a very user-friendly interface.”
Wait. In the age of online access, fewer people are ditching cable? Turns out it’s true. And if you’re shocked to hear it, BusinessWeek found a market analyst who’s just as surprised.
“‘A return to positive video subscriber growth -- unthinkable in consensus numbers as recently as six months ago -- is now not only plausible, but arguably likely,’ [said] Craig Moffett. ‘That's a huge change.’”
The New York Times notes NBC Universal’s coveted cable properties — like CNBC, USA, and Bravo — are proving profitable too. But one reporter says positive signs for Comcast, are really positive signs for everybody.
“This is really a bellwether for the economy. I mean, people are able to afford the monthly cable bill. Maybe they cut back on it when times were particularly tough.”
The marriage between Comcast — the distributor — and NBC Universal — the content provider — turned one year old this month.