Comcast’s Business Internet business hits $1 billion in sales next year
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Comcast, which has a lucrative business selling internet and video services to businesses around the world, is on track to hit the $1.4 billion mark in net revenue in 2017, according to a new report from research firm Strategy Analytics.
Comcast reported net income of $2.5 billion in 2017.
The company reported net revenue of $1,086 million, a 2.5 percent increase over 2016.
The $1-billion net revenue number was generated by a 3.5% increase in total revenue for Comcast Business Internet, a service Comcast offers to businesses that provide internet and TV services, according the report.
Comcast Business was valued at $1 in 2020.
The revenue figure does not include costs that Comcast is required to pay for its business.
Comcast has struggled with its business over the years, with Comcast’s business increasingly losing subscribers and customers in recent years.
Comcast lost $2 billion in 2016, and it has lost an estimated $2 trillion since its founding in 1997.
The cable giant has also struggled to keep pace with growth in video streaming services.
Comcast said last month that it was cutting 3,500 jobs as it looks to turn around its struggling cable and broadband businesses.
Strategy Analytics also noted that Comcast Business lost more than $2 million in the second quarter of 2017, after adding $2,000 to its second-quarter net loss in the same period last year.
Comcast was down nearly $1 million in 2017 from the second-half of 2016.
Comcast, which has a lucrative business selling internet and video services to businesses around the world, is on track to…