Comcast to use Verizon's network to test a wireless service

Comcast has just invoked a three years old agreement with Verizon which allows it to use its network. According to Comcast's Chief Executive Officer Brian Roberts, the network will be used to test a wireless service.

As Bloomberg wrote in a report today, Roberts said during the earnings call on Tuesday that his company plans to "trial and test some things“.

Comcast has had to wait six months before activating the Verizon agreement. It is left unclear if that waiting time is over and if not – when it will be.

According to media reports, the company will use more than 11 million of its Wi-Fi hotspots to go after the big phone companies, thus trying to earn more money for itself. “It’s an opportunity to take the network and the investments that we have made and see if we can continue relationships,” Roberts said.

Of course, it's all about the Benjamins. The third-quarter earnings for the company have been in line with what analysts had expected. The shares fell 1 per cent to $61.54 (£40.14) at the close in New York. They have gained 6.1 per cent this year.

In terms of cable TV subscribers, the company has shown good stats, best in nine years. It has lost 48,000 subscribers in the quarter. According to Bloomberg, analyst had projected an average drop of 66,000 last quarter.

At the same time, the company is looking to sell some TV station airwaves to wireless carriers. The auction is set to take place in March next year.