) on Thursday beat Wall Street’s revenue and profit estimates due to growth in broadband customers, but the company lost more cable TV subscribers than Wall Street expected and its NBC Universal unit revenues were hurt as the film “Cats” bombed at the box office.
Pay TV companies have been raising rates instead of trying to hang on to bargain-chasers who are cutting cable service. In the fourth quarter Comcast lost 149,000 video customers, more than a loss of 139,000 estimated by research firm FactSet, but fewer than the 238,000 video customers it lost in the third quarter.
Comcast will enter the streaming video war on April 15, when it launches its advertising-supported Peacock streaming service to Comcast customers, followed by a launch across the United States on July 15. For the fourth quarter Comcast’s NBCUniversal segment, which includes NBC Entertainment and Universal Pictures, reported revenue of $9.15 billion, down 2.6% from a year earlier. Revenue at the filmed entertainment unit fell 21% from the same quarter a year earlier.
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