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Comcast Corp (CMCSA) SEC Filing 10-K Annual report for the fiscal year ending Monday, December 31, 2018

Comcast Corp

CIK: 1166691 Ticker: CMCSA

Exhibit 99.1

 

 

PRESS RELEASE

 

 

COMCAST REPORTS 4th QUARTER AND FULL YEAR 2018 RESULTS

 

Full Year 2018 Highlights:

 

·      Consolidated Revenue Increased 11.1%; Net Income Attributable to Comcast Decreased 48.4%; On an Adjusted Basis, Net Income Attributable to Comcast Increased 22.0%; Adjusted EBITDA Increased 7.9%

 

·      Net Cash Provided by Operating Activities was $24.3 Billion; Free Cash Flow was $12.6 Billion

 

·      Earnings per Share Decreased 46.7% to $2.53; On an Adjusted Basis, Earnings per Share Increased 25.6% to $2.55

 

·      Cable Communications Revenue Increased 3.9%; Adjusted EBITDA Increased 6.5%

 

·      Cable Communications Customer Relationships Increased by 1.0 Million to 30.3 Million; Over 1 Million High-Speed Internet Customer Net Additions for the 13th Consecutive Year

 

·      NBCUniversal Revenue Increased 8.9%; Adjusted EBITDA Increased 4.6%

 

4th Quarter 2018 Highlights:

 

·      Consolidated Revenue Increased 26.1%; Net Income Attributable to Comcast Decreased 83.3%; On an Adjusted Basis, Net Income Attributable to Comcast Increased 31.8%; Adjusted EBITDA Increased 21.6%

 

·      Net Cash Provided by Operating Activities was $5.8 Billion; Free Cash Flow was $2.1 Billion

 

·      Earnings per Share Decreased 82.6% to $0.55; On an Adjusted Basis, Earnings per Share Increased 36.2% to $0.64

 

·      Cable Communications Revenue Increased 5.2%; Adjusted EBITDA Increased 7.3%

 

·      Cable Communications Customer Relationship Net Additions were 258,000; High-Speed Internet Customer Net Additions were 351,000

 

·      NBCUniversal Revenue Increased 7.1%; Adjusted EBITDA Increased 12.3%

 

·      Successfully Closed Our Acquisition of Sky; Sky Customer Relationship Net Additions were 164,000, Bringing Second Half Net Additions to a Record 590,000 and Total Customer Relationships to 23.6 Million

 

Dividends and Share Repurchases:

 

·      Dividends and Share Repurchases Totaled $8.4 Billion in 2018; Increased Dividend by 10% to $0.84 per Share on an Annualized Basis for 2019

 

PHILADELPHIA - January 23, 2019… Comcast Corporation (NASDAQ: CMCSA) today reported results for the quarter and year ended December 31, 2018.

 

Brian L. Roberts, Chairman and Chief Executive Officer of Comcast Corporation, said, “2018 was a successful and pivotal year for Comcast. I’m pleased with the strong operational and financial results that we delivered across the company. Highlighting a few of our accomplishments during the past year, Comcast Cable’s customer relationship growth accelerated, driven by our 13th consecutive year of over 1 million broadband net additions. 2018 Cable EBITDA growth was the highest in seven years, underscoring the financially attractive transition of our business to connectivity. NBCUniversal had a great year, fueled by double-digit growth in our TV businesses, reflecting our terrific broadcasts of big events like the NFL’s Super Bowl LII, the 2018 Olympics, and the FIFA World CupTM, and overall robust demand for our leading sports, news and entertainment content. We truly became a global company with our acquisition of Sky, and are excited about its future and the potential of our combined company in 2019 and beyond. Comcast’s track record of consistent financial performance and our confidence in our outlook for continued, profitable growth is what underpins our announcement of a 10% increase in our dividend in 2019, our 11th consecutive annual increase.”

 


The following information was filed by Comcast Corp (CMCSA) on Wednesday, January 23, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Consolidated Balance Sheet
Consolidated Balance Sheet (Parenthetical)
Consolidated Statement Of Cash Flows
Consolidated Statement Of Changes In Equity
Consolidated Statement Of Comprehensive Income
Consolidated Statement Of Comprehensive Income (Parenthetical)
Consolidated Statement Of Income
Basis Of Presentation And Summary Of Significant Accounting Policies
Basis Of Presentation And Summary Of Significant Accounting Policies (Details)
Commitments And Contingencies
Commitments And Contingencies (Minimum Annual Commitments Under The Programming License Agreements And Operating Leases) (Details)
Commitments And Contingencies (Narrative) (Details)
Commitments And Contingencies (Rental Expense) (Details)
Commitments And Contingencies (Tables)
Condensed Consolidating Financial Information
Condensed Consolidating Financial Information (Condensed Consolidating Balance Sheet) (Details)
Condensed Consolidating Financial Information (Condensed Consolidating Statement Of Cash Flows) (Details)
Condensed Consolidating Financial Information (Condensed Consolidating Statement Of Income) (Details)
Condensed Consolidating Financial Information (Tables)
Earnings Per Share
Earnings Per Share (Details)
Earnings Per Share (Tables)
Employee Benefit Plans
Employee Benefit Plans (Deferred Compensation Plans) (Details)
Employee Benefit Plans (Information On Our Pension Benefit Plans) (Details)
Employee Benefit Plans (Narrative) (Details)
Employee Benefit Plans (Tables)
Equity
Equity (Aggregate Share Repurchases) (Details)
Equity (Changes In Common Stock) (Details)
Equity (Components Of Accumulated Other Comprehensive Income (Loss)) (Details)
Equity (Narrative) (Details)
Equity (Tables)
Goodwill And Intangible Assets
Goodwill And Intangible Assets (Amortization Of Intangible Assets) (Details)
Goodwill And Intangible Assets (Intangible Assets) (Details)
Goodwill And Intangible Assets (Narrative) (Details)
Goodwill And Intangible Assets (Schedule Of Change In Goodwill) (Details)
Goodwill And Intangible Assets (Tables)
Income Taxes
Income Taxes (Components Of Income Tax Expense) (Details)
Income Taxes (Components Of Net Deferred Tax Liability) (Details)
Income Taxes (Federal Statutory) (Details)
Income Taxes (Narrative) (Details)
Income Taxes (Reconciliation Of Unrecognized Tax Benefits) (Details)
Income Taxes (Tables)
Investments
Investments (Equity Method Investments) (Details)
Investments (Investment Income (Loss), Net) (Details)
Investments (Marketable Equity Securities) (Details)
Investments (Other Investments) (Details)
Investments (Schedule Of Investments) (Details)
Investments (Tables)
Long-Term Debt
Long-Term Debt (Debt Maturities) (Details)
Long-Term Debt (Narrative) (Details)
Long-Term Debt (Schedule Of Debt Outstanding) (Details)
Long-Term Debt (Tables)
Programming And Production Costs
Programming And Production Costs (Narrative) (Details)
Programming And Production Costs (Schedule) (Details)
Programming And Production Costs (Tables)
Property And Equipment
Property And Equipment (Details)
Property And Equipment (Tables)
Quarterly Financial Information (Unaudited)
Quarterly Financial Information (Unaudited) (Details)
Quarterly Financial Information (Unaudited) (Tables)
Recent Accounting Pronouncements
Recent Accounting Pronouncements (Effect Of Changes In Revenue Recognition - Cable Communications Segment) (Details)
Recent Accounting Pronouncements (Effect Of Changes In Revenue Recognition - Statement Of Income) (Details)
Recent Accounting Pronouncements (Effects Of Changes In Revenue Recognition - Balance Sheet) (Details)
Recent Accounting Pronouncements (Narrative) (Details)
Recent Accounting Pronouncements (Policies)
Recent Accounting Pronouncements (Tables)
Related Party Transactions
Related Party Transactions (Condensed Consolidated Balance Sheet) (Details)
Related Party Transactions (Condensed Consolidated Statement Of Income) (Details)
Related Party Transactions (Narrative) (Details)
Related Party Transactions (Tables)
Revenue
Revenue (Condensed Consolidated Balance Sheet) (Details)
Revenue (Details)
Revenue (Narrative) (Details)
Revenue (Revenue By Geographic Location) (Details)
Revenue (Tables)
Schedule Ii Valuation And Qualifying Accounts
Schedule Ii Valuation And Qualifying Accounts (Details)
Segment Information
Segment Information (Details)
Segment Information (Narrative) (Details)
Segment Information (Reconciliation Of Adjusted Ebitda From Segment To Consolidated Statements) (Details)
Segment Information (Tables)
Share-Based Compensation
Share-Based Compensation (Narrative) (Details)
Share-Based Compensation (Recognized Share-Based Compensation Expense) (Details)
Share-Based Compensation (Restricted Share Units And Stock Option Fair Value) (Details)
Share-Based Compensation (Stock Options And Restricted Share Units) (Details)
Share-Based Compensation, Stock Options And Restricted Stock Units (Tables)
Significant Transactions
Significant Transactions (Acquisition-Related Costs) (Details)
Significant Transactions (Allocation Of Purchase Price) (Details)
Significant Transactions (Dreamworks Animation) (Details)
Significant Transactions (Fcc Spectrum Auction) (Details)
Significant Transactions (Sky Transaction) (Details)
Significant Transactions (Tables)
Significant Transactions (Unaudited Actual And Pro Forma Information) (Details)
Significant Transactions (Universal Beijing Resort) (Details)
Significant Transactions (Universal Studios Japan) (Details)
Supplemental Financial Information
Supplemental Financial Information (Cash Payments For Interest And Income Taxes) (Details)
Supplemental Financial Information (Cash, Cash Equivalents And Restricted Cash) (Details)
Supplemental Financial Information (Noncash Investing And Financing Activities) (Details)
Supplemental Financial Information (Tables)
Supplemental Financial Information Supplemental Financial Information (Components Of Accumulated Other Comprehensive Income (Loss)) (Details)
Ticker: CMCSA
CIK: 1166691
Form Type: 10-K Annual Report
Accession Number: 0001166691-19-000005
Submitted to the SEC: Thu Jan 31 2019 5:00:03 PM EST
Accepted by the SEC: Thu Jan 31 2019
Period: Monday, December 31, 2018
Industry: Cable And Other Pay Television Services

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