Telecom Giant Has its Eyes Set on $10b Annual Revenue

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Major telecom giant, Comcast® has set its sight on the $10 billion mark in terms of growth in annual revenue. The company’s CEO, Dave Watson, revealed the firm’s intentions at the recent Deutsche Bank Investors Conference. He remarked that the company is poised to reach the $10 billion mark after 11 consecutive quarters of two-digit growth. “This is a $40 billion opportunity within our footprint,” Watson commented.

The Philadelphia-based company underwent huge business growth in the last few years. They even shifted their main attention from video to broadband domain. Furthermore, it has always remained in the growth path with regards to the fiber network aimed at its business customers and their marketing requirements.

Comcast® Business brought $7.1 billion in annual revenue in the year 2018. This was its third year in a row, posting double-digit rate of annual revenue growth. Its quarterly revenue growth grew every year at double digits for 11 quarters straight. The only exception was back in the fourth quarter of 2018 when it managed to report only 9.5 percent growth.

Comcast®, according to CEO Watson, is looking forward to maximizing business services and its potential growth within the accessible footprint. He used the example of Comcast’s hometown to explain this.

The company launched River-to-River project three years ago. It was a $30 million hyper-build project, in an effort to spread its fiber-based network throughout the Center City. It started from Schuylkill and extended until Delaware. In this effort, above 3,000 businesses acquired access to the network. Besides, Comcast® continues to serve about 1,000 of these customers.

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“It’s a great return,” Watson commented. He went on to say that the latest development in Philadelphia is how one of the fastest internet provider in the country intends to install fiber projects in other major towns where it runs its business. “We’ll do this surgically, and we’re doing this everywhere we serve. Every market where you see cranes, all this construction going on, we’re right here.”

According to CFO Mike Cavanagh, Comcast® Business is acquiring market share in all major segments of the business market, during the fourth quarter as well as the full year earnings call of Comcast® in 2018. Majority of its strength is in small and medium-sized businesses. According to the CFO of the company, the best internet provider of the nation is “in the early stages of penetrating a significant addressable market”.

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