Internet Access Drove 86% of Comcast Net Adds in 1Q 2015

With the caveat that cable operations represent about 64 percent of Comcast revenue, revenue for Comcast access networks increased 6.3 percent to $11.4 billion in the first quarter of 2015 compared to $10.8 billion in the first quarter of 2014, driven by increases of 10.7 percent in high-speed Internet and 21.4 percent in business services.

Year over year, Comcast gained 407,000 high speed Internet access customers and 77,000 voice customers and lost 8,000 video customers.

About 37 percent of Comcast customers bought triple-play service. A third bought double-play services while 31 percent purchased only a single service from Comcast. In other words, about 70 percent of Comcast consumer accounts purchased a multi-service package.

About 70 percent of net product additions in the first quarter of 2015 were dual-play packages (two services), while Comcast lost about five percent net single-product accounts. Comcast had triple-play net gains of about 35 percent.

			Customers						Net Additions
(in thousands)			1Q14			1Q15			1Q14			1Q15
Video Customers			22,601			22,375			24			(8)
High-Speed Internet Customers			21,068			22,369			383			407
Voice Customers			10,865			11,270			142			77
Single Product Customers			8,605			8,399			(147)			(10)
Double Product Customers			8,656			8,890			116			140
Triple Product Customers			9,539			9,945			155			69
Customer Relationships			26,800			27,234			124			199

Operating cash flow for the Cable Communications segment increased 6.2 percent to $4.7 billion in the first quarter of 2015 compared to $4.4 billion in the first quarter of 2014, reflecting higher revenue, partially offset by a 6.3 percent increase in operating expenses primarily related to higher video programming costs, as well as an increase in advertising, marketing and promotion expenses, Comcast said.

The first quarter operating cash flow margin was 41 percent, consistent with the prior year period.