Comcast Corp, the largest U.S. cable operator, posted higher first-quarter revenue and net income on Tuesday and showed it could add video subscribers for two quarters in a row, a rare occurrence in the cable industry.The company, whose shares closed 2 percent higher, said it added 24,000 net video subscribers in the first quarter. That surprised analysts who expected a loss of 26,000 net subscribers, according to StreetAccount. Last year's fourth quarter marked Comcast's first upswing in cable video subscribers in more than six years.Most cable companies have been shedding video subscribers for the past few years, losing them to satellite and telecom rivals as well as newer Web-based entrants such as Netflix Inc ."Two straight quarters of basic video subscriber gains, even small ones, isn't enough to call a reversal of perennial losses," said MoffettNathanson analyst Craig Moffett in a research note. "But it's a start."
Netflix, Inc. is an Internet television network with more than 33 million members in over 40 countries. Shares of NFLX traded higher by 7.0% or $24.41/share to $372.90. In the past year, the shares have traded as low as $204.02 and as high as $458.00. On average, 3231400 shares of NFLX exchange hands on a given day and today's volume is recorded at 9229653.
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