Comcast Lost 440,000 Pay TV Customers in Q4 2022





comcast sign

In Comcast’s Q4 earnings report released this morning, the company reported a 440,000 video customer loss. The company added just 4,000 broadband customers for the quarter.

Comcast also reported losing 288,000 voice customers but added 365,000 wireless customers.

While customer numbers were down, revenue was up 0.7% to over $30 million in the 4th quarter of 2022.

“I am proud of how our team executed throughout 2022,” said Brian L. Roberts, Chairman and Chief Executive Officer of Comcast Corporation. “We achieved the highest levels of Revenue, Adjusted EBITDA and Adjusted EPS in our history and returned a record $17.7 billion of capital to shareholders. We delivered impressive revenue growth in broadband; grew wireless lines by 1.3 million, our best
result since launch; more than doubled our Peacock subscribers, surpassing 20 million at year-end; nearly tripled Peacock revenue to $2.1 billion; ranked second in worldwide box office; and generated record Adjusted EBITDA at our theme parks. Importantly, we achieved these results while continuing to invest in broadband, our 10G network evolution, Xfinity Mobile, Peacock, and theme parks, and we also took cost actions to further our growth in the future. We are excited to begin the new year as an innovative leader in large profitable markets with a strong balance sheet and a strategy to drive incremental returns and bring outstanding content and experiences to our customers. The Board’s
confidence in our position and path forward is underscored by today’s announcement that we are increasing our dividend for the 15th consecutive year.”

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