Comcast, the biggest cable company in the US, which is trying to buy the second biggest cable company, Time Warner Cable, reported its quarterly earnings this morning.
The results have been pretty well received by the markets, with shares up by about 2.7% at the time of writing. Jeffries analyst Mike McCormick described it as “another solid quarter.” Most investors are focused on the Time Warner Cable deal—the FCC paused the clock on its long-running review of the deal this week—but the results still offered a glimpse about ongoing trends in America’s rapidly changing pay TV business.
The average monthly bill for a customer was steady at about $137
Cord cutting in cable TV, growth in broadband internet
Comcast will soon have more internet than TV customers
But in terms if revenue, cable TV remains a much, much bigger business
For its cable networks division (MSNBC, USA, CNBC, etc.), advertising revenue fell, while affiliate fees rose
