Comcast felt the effect of the FCC’s ending of the ACP program in the third quarter, losing a sizeable number of broadband subscribers while seeing some seasonal benefits.
The provider reported a net loss of 87,000 subscribers in the quarter, which it said included an estimated net impact of 96,000 associated with the end of ACP.
However, the service provider said that without the ACP program ending, it would have added several thousand new subscribers.
“Excluding this ACP-related subscriber loss, we would have reported positive 9,000 broadband net additions in the third quarter,” said Jason Armstrong, CFO of Comcast, during the third quarter earnings call.
He added that Comcast did see an uptick due to the usual trends it sees every third quarter and new marketing efforts.
“Keep in mind that in the third quarter, we typically benefit from seasonal tailwinds due to back-to-school activity, and this year was no different as we performed very well in that category,” he said. “We also benefited to some extent from a competitor's work stoppage and from leveraging the Olympics by investing in incremental nationwide brand marketing behind our Olympic-related offers.”
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Sean Buckley
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