Comcast’s Xfinity Mobile MVNO service hit a milestone in Q4 2019, recording its highest-ever number of net additions to surpass 2 million subscribers in total.
Net additions of 261,000 were 15 per cent higher than the 227,000 recorded in Q4 2018. On an earnings call, executives said an increase in retail store traffic, along with new product introductions from Apple and others, contributed to the bump.
All told, Xfinity Mobile added 816,000 million subscribers in 2019, ending the year with a total of 2.05 million.
Wireless revenue grew 39 per cent year-on-year to $372 million in Q4 2019, with the full year total climbing from $890 million in 2018 to $1.17 billion.
Still, the segment continued to lose money during the quarter: executives noted a net loss of $116 million was a 40 per cent improvement from a loss of $191 million in Q4 2018. Its full year loss also narrowed, from $743 million in 2018 to $401 million.
In a research note, analysts at LightShed Partners hailed the 2 million subscriber mark as a “critical” milestone, but estimated Xfinity Mobile will need to reach 3 million customers to break even financially.
Comcast’s total net income in Q4 jumped 26 per cent to nearly $3.2 billion, on revenue which climbed 2 per cent to $28.4 billion.Subscribe to our daily newsletter Back