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Comcast Reports Mixed Q1 as Video Subs Losses Exceed Expectations

Comcast continued to chip away at video subscriber losses, shedding 37,000 cable customers in the first quarter, a slight improvement over the prior year, but short of some estimates from analysts who expected a more dramatic showing.

Comcast has significantly reduced video customer losses in the past 18 months, losing 40% fewer TV customers in 2011 than in the prior year. And though its losses continued to improve in the first quarter - it lost about 39,000 basic video customers in the same period in 2011 -- analysts had expected the nation's largest cable operator to shed between 18,000 and 25,000 video subscribers.

In a research note, Sanford Bernstein cable and satellite analyst Craig Moffett said that because of big improvements in video losses in 2011, some investors were expecting a positive video subscriber showing at least for the first quarter.

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