Strong high-speed Internet sales gave Comcast Corp. a boost in the second quarter as the nation’s largest cable TV provider managed to curtail the number of video customers leaving the company.
Total revenues at Comcast, which owns a majority interest in the media and entertainment giant NBCUniversal, increased 6.1 percent over the year-earlier quarter to $15.2 billion. Earnings per share also grew, rising 35.1 percent to 50 cents from 37 cents in the second quarter of 2011.
On a pro forma basis, revenues at NBCUniversal fell 0.8 percent to $5.5 billion., while Cable Communications revenues rose 6 percent to nearly $9.9 billion.
“This increase was driven by an 8.9 percent increase in high-speed Internet revenue, a 34.2 percent increase in business services revenue and a 2.8 percent increase in video revenue,” Comcast explained.
In the quarter, Comcast added 156,000 high-speed Internet customers. It lost 176,000 video customers, though Comcast might have been moderately pleased with that result when compared to 238,000 losses in the year-ago quarter.
Comcast ended the quarter with a combined total of 50.5 million high-speed Internet, video and voice customers.