Despite subscriber losses, Comcast posts 51% revenue gain

Comcast (Nasdaq: CMCSA) may have lost 283,000 basic video subscribers during the second quarter, but that didn't stop it from posting a 51 percent gain in revenue during the period.

The nation's largest cable MSO reported $1.02 billion in net income on $14.3 billion in revenue during the quarter. The gains came primarily from its new NBCUniversal unit and gains in high-speed Internet and telephone subscribers.

Comcast added 144,000 cable modem customers during the second quarter, increasing its total high-speed subscriber count to 17.6 million. It also picked up 193,000 voice subscribers, growing its phone base to 9.1 million subscribers.

While Comcast and other major cable MSOs continue to bleed basic video subscribers to satellite and telco competition, it has managed to grow revenue by selling more products to subscribers.

For more:
- see the Comcast earnings release
- see this Reuters story

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