Tomahawk, WI 8/01/2013 (Basicsmedia) –Comcast Corporation (NASDAQ:CMCSA) is a provider of entertainment and communications services. The Company provides products and services in the fields of Cable Networking and Communications, Television Broadcasting, Themed parks and Entertainment Films through its subsidiaries.  The firm also holds a 49% stake in NBC Universal Media Ltd.

Comcast declared its 2Q2013 results on July 31, 2013 quoting a 29% rise in profits during the quarter guided by increasing cable charges that over-rode a decline in the number of video subscribers. The Company quoted its earnings for the quarter at $1.73 billion, or $0.65 per share, as against $1.35 billion, or $0.50 per share last year. Market analysts were expecting earnings of $0.63 per share, on an average. Net revenue was quoted at $16.27 billion for the quarter, up 7% as against $15.21 billion last year, beating the analysts’ expectations of $16.01 billion.

Revenue from Cable Communications and high speed internet services rose by 5.8% and 8% respectively, whereas revenue from Videos was up just 2.7%. Revenue earned from NBC TV was quoted at $6 billion, up 8.9% during the quarter. The subscriptions for Broadband services rose 20.1% during the quarter, recorded as one of the highest growth in last five years. With other Broadband service providers capping the speeds and high speed data limits for their subscribers, Comcast is confident of being able to cater to increasing demands with Company possessing an additional capacity for higher speeds and data limits. The Company had more than one-third of its subscribers utilizing higher internet speeds available at premium costs, which is better for the Company’s future.

In spite of loosing on the number of Video subscribers over last few years, owed to a fierce competition from online Video streaming services providers, Comcast managed to raise its revenue from video services to $5.2 billion. Comcast lost 159K video subscribers during the quarter as against a loss of 176K subscribers in the same quarter last year. The increase in revenue was attributed to the sale of advanced video services like DVRs and an increase in the prices, with 55% video subscribers experiencing HDTV and digital DVR services.

Brian Roberts, CEO, Comcast seemed to be pleased with the Company’s results for second quarter. He was particularly happy with NBC’s performance and higher growth of Cable in high-speed Internet during the quarter.

Earlier, on July 30, 2013, Comcast announced the launch of its cloud based online TV watching service, Xfinity TV on X1 Platform along with X1 remote control application. This service will be available to its TV, telephone, and broadband Internet services customers at no additional costs and will enable them to stream videos from a large collection in High Definition. The product is aimed at transforming the hardware video services of the Company into a fully interactive software based offering for the subscribers. Comcast will be competing with Companies like Netflix and Amazon in the segment. However, the edge over others lies for Comcast with no requirement of a separate internet connection provider to its customers for Xfinity TV. It will also allow users to browse the web simultaneously while watching TV.

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