Comcast adds Internet, voice subscribers, loses 176K video subs in Q2 2012

Comcast said Wednesday that it lost 176,000 video subscribers during the second quarter, even as it picked up 156,000 high-speed Internet and 158,000 voice customers.

The MSO saw its video subscriber losses widen compared to the first quarter, when it dropped 39,000 video subscribers. But it performed better than the second quarter of 2011, when it lost 238,000 subscribers.

Selling cable and high-speed Internet to commercial customers was its biggest area of revenue growth, with the company reporting $435 million in revenue from business services, up 34.2 percent, compared to the second quarter of 2011.

High-speed Internet revenue grew 9.6 percent, to $2.2 billion; video revenue increased 2.2 percent, to $4.9 billion; and voice revenue increased 1.6 percent, to $878 million.

The nation's largest cable MSO, which uses its size to extract volume discounts from technology and programming vendors, saw capital expenditures decrease by 4.9 percent, to $1.1 billion. Comcast saw total revenue increase 6.12 percent during the quarter to $15.2 billion. It posted earnings per share of 50 cents, up 35 percent, compared to this time last year.