Comcast offsets cord-cutting with broadband growth

It looks like Comcast's efforts to chase broadband customers as a way to off-set cord-cutting, is paying off.

The cable giant on Thursday topped Wall Street expectations on revenue and on profit, which came in at nearly $3.2 billion in the fourth quarter.

Comcast has been vocal about its bid to counter cord-cutting with broadband customers, as viewers who stream TV and movies require a broadband connection to do so.

The company gained 442,000 broadband subscribers in the quarter, stronger than expected.

Also fueling revenue growth, British broadcaster Sky, which Comcast bought in 2018.

However, cord-cutting continues to take its toll.

Comcast lost 149,000 customers, more than Wall Street was expecting.

Meanwhile, the company will be making its own entrance into the streaming world in April, when it launches its ad-supported service called 'Peacock.'

Peacock will offer next-day access to current NBC series, as well as the entire catalog of shows like "Cheers," "30 Rock," and "Saturday Night Live."

It will also offer classic movies.

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