Comcast rates residential customers up 3%
Comcast is increasing rates for its residential customers in California, New York, Massachusetts, Washington, D.C., New Jersey and Maryland, according to the company’s annual Residential Internet Service (RIS) report.
Comcast is also increasing rates in Massachusetts and Washington, where the company is offering higher rates for Comcast customers.
The company is also offering more favorable rates for customers in Washington, California, Massachusetts and New Jersey.
Comcast’s Residential Internet Services (RISC) division reported that its residential broadband customer base grew by 14% in the fourth quarter, to 1.7 million residential customers.
Comcast reported that residential internet services accounted for a little over 15% of its total broadband revenue, and that it generated $4.1 billion in revenues for the fourth-quarter, compared to $4 billion in revenue for the year-ago quarter.
Comcast also reported that it had 2.4 million residential broadband customers in the U.S., down from 3.6 million in the year ago quarter.
For more, see Comcast’s quarterly results.
Comcast has increased rates in New York and Maryland since December, when the company began offering its service in that state.
The utility also increased rates by about 6% in New Jersey, where it had nearly 5 million residential subscribers at the time of Comcast’s announcement.
The U.K.’s Standard & Poor’s has downgraded Comcast to its lowest rating, the third downgrade in the past month.
For Comcast, however, the company reported a net profit of $2.3 billion, which was up 4% from the previous year.
Comcast recently added a new offering, the Comcast Internet Unlimited, which offers unlimited internet service for $60 a month, which Comcast says will make up for the loss of the more expensive Comcast Fiber.
Comcast said in January that it would offer Fiber Internet services to customers in areas where Comcast is not offering Fiber Internet.
Comcast, which is part of Charter Communications Inc., plans to begin offering Fiber-to-the-Home Internet service in New Brunswick, New Jersey in 2019.
The cable giant is also launching a TV Everywhere service that will provide over-the top streaming video and content over the Internet.