CSG renews billing contract with Comcast Cable

CSG has renewed its existing contract with Comcast Cable for offering residential billing services through June 30, 2020.
Comcast investmentTerms of the extension remain consistent with the financial terms and obligations under Comcast’s existing contract with CSG.

CSG earlier reported revenues of $213.1 million (+7 percent) in the third quarter of 2018 — primarily due to the acquisition of Business Ink on February 28, 2018.

Comcast earlier said its capital expenditures fell 2 percent to $2.4 billion in the third quarter of 2018. Cable Communications’ Capex dropped 5.7 percent to $1.9 billion in Q3 2018, reflecting lower spending on customer premise equipment, scalable infrastructure and support capital.

Cable capital expenditures represented 14.1 percent of Cable revenue in Q3 2018 compared to 15.4 percent in last year’s third quarter.

Revenue for Cable Communications increased 3.4 percent to $13.8 billion in Q3 2018, driven primarily by increases in high-speed internet, business services and advertising revenue. High-speed internet revenue increased 9.6 percent, driven by an increase in the number of residential high-speed internet customers and rate adjustments.

Business services revenue rose 10.6 percent, driven by increases in the number of customers receiving our small and medium-sized business services offerings.

Video revenue decreased 2.9 percent, primarily reflecting a drop in the number of residential video customers, as well as additional revenue in last year’s third quarter associated with a boxing event available on pay-per-view. Voice revenue decreased 3.1 percent, primarily due to a decrease in the number of residential voice customers.

Total customer base increased by 288,000 to 30.1 million in Q3 2018. Residential customer relationships increased by 258,000 and business customer relationships increased by 30,000 at the end of the third quarter.