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​Comcast’s Q3 highlights how to navigate customer shifts, end of the cable

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Comcast’s third quarter results were better than expected and the familiar storyline revolves around how customers are cutting the cord. That storyline is legit, but Comcast’s broadband business is booming and its move to embrace and integrate over-the-top services with its X1 platform appears to be paying off.

At a high level, Comcast reported third quarter earnings of $2.88 billion, or 62 cents a share, on revenue of $22.13 billion, up 5 percent from a year ago. Non-GAAP earnings for the third quarter were 65 cents a share. Wall Street was looking for earnings of 61 cents a share on revenue of $21.82 billion.

In addition, Comcast saw its business services unit continue to deliver strong growth with third quarter revenue of $1.8 billion, up 10.6 percent from a year ago. But the notable surge in the third quarter, came from Comcast’s high-speed Internet business as revenue jumped 9.6 percent.

Comcast’s digital transformation journey:

Comcast added 363,000 high-speed Internet customers in the quarter to more than offset 106,000 video customer net losses. A 35,000 net loss in voice customers was offset by 42,000 customer additions for security and automation.

If you break those customer relationships down, it’s clear that Comcast is losing the bundle, but retaining single product customers. Add it up and Comcast is navigating shifts in its customer base as well as any company.

On a conference call with analysts, Comcast CEO Brian Roberts said:

Customer relationship net adds of 288,000 were driven by 363,000 net new Broadband customers, the best third quarter in 10 years. Collectively, residential Broadband and business services revenue increased by nearly 10%.

Roberts added that the move to look at its broadband holistically as a product–rebranded xFi–adding new features like parental controls and hooks into the smart home have paid off. “By aggregating and integrating everything from linear TV, to applications like Netflix, YouTube and soon, Amazon Prime Video, X1 delivers an unmatched user experience and the broadest range of content that underscores the value of our broadband service,” said Roberts.

comcast-customer-relationships-q3.png

The other thread worth noting is that Comcast’s ability to keep single product customers enables it to cross-sell another bundle in the future. For instance, Comcast’s wireless business just past more than 1 million customer lines. Perhaps the broadband and mobile bundle is the new cable-ish package for customers.

Comcast certainly has its challenges ahead. For instance, 5G will create a new set of broadband competitors. In addition, Comcast still has to get its networking blocking and tackling down. A series of outages for business customers spurred a same old Comcast refrain. But it’s hard to count Comcast out given the way it has navigated things so far.

Related:

Comcast Business launches analytics for SmartOffice video, motion detection

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2022 Ford F-150 Lightning gives new electric pickup its EV name

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The all-electric Ford F-150 may still be a ways out from hitting dealership forecourts, but we now know what it’ll be called: the 2022 Ford F-150 Lightning. The plug-in pickup will be unveiled officially on May 19, though Ford hasn’t been able to resist confirming the badge that the new EV will wear.

It’s not the first time that a Ford truck has borne the Lightning name, mind. Back in 1993 the automaker launched the SVT F-150 Lightning, a performance pickup intended to take on Chevrolet’s 454SS.

That, though, had a V8 under its hood, whereas the new F-150 Lightning will take a very different approach. It’ll be fully electric, with Ford promising more horsepower and torque than any other F-150 currently on sale. It’ll also have sky-high towing and payload ratings, the automaker says, and accelerate faster than even the speediest current F-150.

“Every so often, a new vehicle comes along that disrupts the status quo and changes the game … Model T, Mustang, Prius, Model 3. Now comes the F-150 Lightning,” Jim Farley, Ford President and CEO, said today. “America’s favorite vehicle for nearly half a century is going digital and fully electric. F-150 Lightning can power your home during an outage; it’s even quicker than the original F-150 Lightning performance truck; and it will constantly improve through over-the-air updates.”

This isn’t the first time Ford has opted to use a familiar name with a new, electric twist, of course. The automaker risked frustrating fans when it opted to brand the its all-electric crossover, the Mustang Mach-E, with a name more commonly associated with gas-burning two door coupes and convertibles. Even now, years after that announcement, arguments about whether the Mach-E is a “real” Mustang continue.

Meanwhile, GMC took a similar strategy with its high-profile electric SUV. It resurrected the Hummer brand – probably best known for its profligate gas engines – for the all-electric reboot, keeping the burly styling but pairing it with up to three electric motors.

Ford hasn’t said exactly what configuration it has planned for the 2022 F-150 Lightning. The expectation, however, is that there’ll be a dual-motor arrangement for the electric pickup, for all-wheel drive. Battery size and range haven’t been discussed publicly, either, though given electric truck rivals are talking 300+ miles on a charge – and Chevrolet is promising 400+ miles from its upcoming electric Silverado – it seems likely that Ford will aim for something similar.

Part of the F-150 Lightning’s charm, however, will be how functional it is when it’s standing still. Though the current F-150 can act as a generator for worksite equipment, camping, and other situations, the electric pickup will be able to do that without a gas engine running.

Ford plans to begin production of the 2022 F-150 Lightning in spring 2022, at the new Ford Rouge Electric Vehicle Center. Deliveries are expected in mid-2022.

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Harley-Davidson sparks LiveWire as a standalone electric motorcycle brand

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Harley-Davidson will spin out its LiveWire electric motorcycle into a standalone brand, with a whole range of EVs planned. Announced in production form back in 2018 – though dating all the way back to a 2014 concept – the original Harley-Davidson LiveWire bypassed the clutch and the familiar rumble in favor of a battery and zero emissions, though when preorders opened the following year it was with an eye-watering price tag.

0-60 mph in under 3.5 seconds and instantaneous torque – plus around 110 miles of range – would set you back about $30k, the iconic bike company conceded. The LiveWire was to be the first of a series of Harley-Davidson electric models, as it tried to expand its footprint beyond its traditional audience.

Now, it’s shaking that strategy up a little. LiveWire won’t just be a bike, but a whole brand of its own, initially focused on urban use. It’ll have dedicated showrooms in select markets – initially in California – but also support digital from the outset. Select existing dealers from the Harley-Davidson network will be involved, but you won’t necessarily be able to go into any current dealership and find LiveWire product there.

Of course, though it may be its own entity, LiveWire will get to piggy-back on a lot of Harley’s existing setup. “With a dedicated focus on EV, LiveWire plans to develop the technology of the future and to invest in the capabilities needed to lead the transformation of motorcycling,” the company said today. “LiveWire expects to benefit from Harley-Davidson’s engineering expertise, manufacturing footprint, supply chain infrastructure, and global logistics capabilities.”

Developments by, and for, LiveWire may well find there way into future Harley-Davidson models, for example. Indeed, it sounds like there’ll even be electric Harleys in the future, as LiveWire tech goes full circle to help bring its originator up to speed.

Harley-Davidson has faced challenges in recent years, as it tries to modernize and embrace things like electrification while keeping a grip on its traditional audience and branding. The company launched its “Rewire” plan for restructuring in 2020, trimming select models in some regions, and generally aiming to cut costs. Key, though, is attracting a new, younger audience of riders with Harley conceding a few years back that its appeal among millennials was lagging significantly behind.

We’d already seen the first fruits of that expansion strategy late last year. In November 2020, the company unveiled its Series 1 Cycle e-bike line-up, the first models from its new brand for electric bicycles. Come July 8, meanwhile, we’ll see the first LiveWire branded motorcycle revealed. There, the big question will be whether Harley’s hewn-off nameplate can compete with existing electric bikes on factors like range and price.

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Sleeker Pony.ai self-driving SUV hints at more road-ready autonomous cars

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Autonomous car headgear keeps getting smaller, with Pony.ai revealing its latest self-driving car design and its much sleeker, Luminar-powered scanning hub. Far from the “upturned trashcan” aesthetic many still associate with the bulky LIDAR sensors atop driverless vehicles, the new version adds less than 4-inches of height to Pony.ai’s modified Lexus SUVs.

That’s a considerable difference from the vehicles the company has been using so far. The existing SUVs have a large, roof-rack style block on top, and then a sensor turret rises from that. It’s for good reason, mind: that allows the LIDAR sensors to have a full, 360-degree field of vision around the car.

For effective volume production, though, not to mention aesthetics and practicality, the system needed to be smaller. That’s just what Pony.ai says it has achieved now, tapping Luminar’s slimline Iris LIDAR sensor along with other tech for a much reduced profile roofline. It’ll be just 10 cm high, though still deliver 360-degrees of visibility for the various sensors inside.

The new design will be used in the company’s “automotive-grade production autonomous fleets,” it says, from 2023. Currently, it operates robotaxi services in three cities in China – Guangzhou, Shanghai, and Beijing – and two in California, Irvine and Fremont. Its fleet of 200+ vehicles have collectively provided more than 220,000 robotaxi rides, Pony.ai says, with over 3.1 million miles of driving across a total operational coverage area almost 330 square miles in size.

Luminar is gaining a higher profile in LIDAR circles, including attention from not only autonomous vehicle startups like Pony.ai but established automakers too. Volvo invested in the company back in 2018, then two years later confirmed that Luminar LIDAR would be a key component in its upcoming SPA 2 platform. Expected to go into production from 2022, it’ll be used initially not for full autonomous driving, but for advanced driver assistance.

Indeed, that’s one of the key aspects of Luminar’s tech, and LIDAR in general: exactly what can be achieved with it depends on the software, the legislative environment, and the ambitions – and risk profile – of the company using it. Volvo’s system, dubbed Highway Pilot, will be a Level 3 system designed to take over on select highways and operate without human supervision. However it’ll hand control back over to the human driver outside of that domain.

Pony.ai’s approach, in contrast, is to relegate the driver to passenger status at all times. The company has been working with backer Toyota – which most recently invested $400 million in February 2020 – and the two developed the AV pilots in China together.

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