Comcast video subscribers up 80,000 in 4Q 2016

PHILADELPHIA — Comcast Corporation (NASDAQ: CMCSA) today reported results for the quarter and year ended December 31, 2016.

Brian L. Roberts, Chairman and Chief Executive Officer of Comcast Corporation, said, “Our performance at Comcast Cable was exceptionally strong. We grew operating cash flow 5.6%, added 161,000 video subscribers, the best video customer results in a decade, and delivered our best high-speed Internet customer results in nine years.”

Cable Communications

Customer Relationships increased by 258,000 to 28.6 million in the fourth quarter of 2016, primarily reflecting an increase in double product relationships. At the end of the fourth quarter, penetration of our double and triple product customers increased to 70.1% compared to 69.8% in the fourth quarter of 2015. Video customer net additions were 80,000, high-speed Internet customer net additions were 385,000 and voice customer net additions were 44,000.

For the year ended December 31, 2016, customer relationships increased by 858,000, a 29.0% increase compared to net additions of 666,000 in 2015. Video customer net additions of 161,000 were the best result in ten years. High-speed Internet customer net additions of 1.4 million marked the 11th consecutive year of more than one million net additions, and were the best result in nine years. Voice customer net additions were 211,000.

Video Customers (thousands)

                                                                2015
                              --------------------------------------
                                  1Q      2Q      3Q      4Q      FY
                              ------  ------  ------  ------  ------
Total                         22,375  22,306  22,258  22,347
Net Additions (Losses)            -8     -69     -48      89    (36)
Advanced Services Customers*  13,215  13,337  13,466  13,871

                                                                2016
                              --------------------------------------
                                  1Q      2Q      3Q      4Q      FY
                              ------  ------  ------  ------  ------
Total                         22,400  22,396  22,428  22,508
Net Additions (Losses)            53      -4      32      80     161
Advanced Services Customers*  14,158  14,356  14,500  14,761

* Advanced Services Customers subscribe to DVR and/or HDTV services.