Comcast Smashes Q1 Expectations, Xfinity Home Approaching One Million Customers
After a first-quarter earnings and revenues report Thursday, Comcast had a lot of news to be proud of. Earnings per share increased 23.3% to 53 cents vs a 44 cent estimate, revenue topped $20.463 billion vs the $20.124 billion estimate, according to CNBC.
Overall, Comcast's cable business rose 5.8 percent as the company added 42,000 video subscribers and 429,000 broadband subscribers in the quarter, which industry analysts considered to be strong growth.
“2017 is off to the fastest start in five years,” Brian L. Roberts, Chairman and CEO of Comcast, said in the earnings report press release. “I am excited about our momentum headed into the rest of 2017 and beyond.”
That being said, the most exciting news is Comcast has finally revealed how many of homeowners are sporting the five-year-old Xfinity Home program. That magic number sits at a staggering 957,000 subscribers, an increase of 289,000 from the same quarter a year ago.
The Xfinity Home has a familiar feel to the emerging IoT space. A camera that texts you when someone comes to your front door, a geo-fenced thermostat with a few eco-friendly profiles, and a series motion sensors isn't really pushing the envelope. However, Comcast is offering a few tricks including voice access to your devices through your TV (thanks to Xfinity X1) is pretty slick. Mix in a blueprint that enables users to take baby steps and piece-meal their ideal smart home solution and you can see the secret sauce to their success.
Identifying that there is no one-size-fits-all has really given the company a sharp edge in the connected home race.
“We also created a platform that allows other best-in-class smart home devices to connect and talk to one another,” Herscovici wrote in a blog post. “This means our customers can manage and control all of these smart home devices from one platform and enjoy a more useful experience rather than have to constantly juggle numerous individual apps.”
Internally, I imagine Comcast has been very busy vetting new products as well as redesigning their current profile to be more efficient. That, of course, becomes a bit easier when you have a pool of nearly a million people with suggestions on what they want.
“I think that we democratize these high-end home automation solutions, and by that I mean I think solutions from Comcast are lower out-of-pocket-cost,” Herscovici told Dealerscope in an interview last month. “You’re able to create experiences that historically are left to the top 1 percent of households in the U.S. We understand what it means to operate at scale. For perspective, Comcast is 26-27 million internet subscribers; we have 25ish million video subscribers. … I think we understand how to deliver solutions at that scale even in the IoT and home security space.”
Their current lineup of supported devices include Zen thermostat, August door lock, Lutron Caséta wireless controller and dimmer, Chamberlain MyQ garage door controller, GE branded plug-in and in-wall smart switches by Jasco, and Sengled’s Element Touch connected LED lightbulbs.
There is no doubt that Comcast has the manpower to completely dominate this space, and it seems that they are taking all the right steps to ensure that future.