Business Briefs
[naviga:h3]Comcast reports mixed numbers[/naviga:h3]
NEW YORK — Comcast is still losing U.S. cable customers but is racking up more Internet subscribers and has gotten a revenue boost from Sky, its big bet on European TV.
The Philadelphia company said Wednesday that it lost 29,000 U.S. cable customers in the fourth quarter but added 351,000 Internet subscribers. It also gained customers in its new cellphone-plan business. The company is dealing with a growing number of people who are cutting their cable bundles to save money, enticed by Netflix and several other companies offering cheaper streaming services.
Comcast is also looking to compete there. Its NBCUniversal division is launching a streaming service in the first half of next year, joining the crowded field competing for consumers’ attention.
It plans to offer current and older seasons of the TV shows it produces and some original content, with advertising.
[naviga:h3]Ford posts loss for the quarter[/naviga:h3]
DEARBORN, Mich. — Ford has reported its first quarterly loss in two years due to a pension accounting charge and poor performances in Europe and China.
The Dearborn, Mich., company on Wednesday said it lost $116 million, or 3 cents a share, in the fourth quarter, compared with a $2.52 billion profit in the same period a year earlier. The loss included an $877 million charge to revalue global pension assets due to a late-year market slide.
Ford made a pretax profit of $7.6 billion in North America for the year, down 6 percent from 2017. Still, U.S. unionized workers will get profit-sharing checks of $7,600 each in March.
But the automaker lost $1.1 billion before taxes in its Asia Pacific region for the full year. It also posted pretax losses of $398 million in Europe for the year, $678 million in South America, and $7 million in the Middle East and Africa.
Ford is in the midst of an $11 billion global restructuring.
