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Cable Business Services Weather Q2 Storm, Growing Revenues, Limiting Sub Losses

The closure of business offices, bars, and restaurants resulted in the loss of 27,000 customer relationships at leading cable operators' commercial segments during the second quarter. Revenues, meanwhile, grew 1.8% annually to $4.11 billion. The segment's contribution to these operators' subscription receipts remained steady at 14.1% during the latest quarter.

Overall, commercial revenues for the group were up a relatively solid 3.7% year over year in the first six months of 2020, with industry leader Comcast even growing the segment by nearly 6% in the interval, despite the strong COVID-19 pandemic headwinds. For the quarter ended June 30, Comcast recorded the largest absolute subscriber hit, reporting a net loss of 24,000 customer relationships during the period, but overall commercial subscribers were up 1.2% in the 12 months ended June 30. Charter reported a net gain of 4,000 small and midsize business customer relationships during the quarter and Enterprise PSUs up by 1,000.

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