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Comcast Corp (CMCSA) SEC Filing 10-Q Quarterly report for the period ending Sunday, March 31, 2019

Comcast Corp

CIK: 1166691 Ticker: CMCSA

Exhibit 99.1

 

 

PRESS RELEASE

 

COMCAST REPORTS 1st QUARTER 2019 RESULTS

 

Consolidated 1st Quarter 2019 Highlights:

 

·      Consolidated Revenue Increased 17.9%; Net Income Attributable to Comcast Increased 14.0%; Adjusted EBITDA Increased 18.1%, Each Reflecting the Inclusion of Sky Results in the First Quarter of 2019

 

·      Net Cash Provided by Operating Activities was $7.2 Billion; Free Cash Flow was $4.6 Billion

 

·      Earnings per Share Increased 16.7% to $0.77; On an Adjusted Basis, Earnings per Share Increased 16.9% to $0.76

 

·      Dividends Paid Totaled $869 Million

 

Cable Communications 1st Quarter 2019 Highlights:

 

·      Cable Communications Revenue Increased 4.2%; Adjusted EBITDA Increased 9.8% and Adjusted EBITDA per Customer Relationship Increased 6.0%

 

·      Total Customer Relationships Increased 3.6% Year-Over-Year to 30.7 Million, Including Net Additions of 300,000 in the Quarter, a 19,000 Improvement from the First Quarter of 2018

 

·      High-Speed Internet Residential Revenue Increased 10.1%; Business Services Revenue Increased 9.5%; Total High-Speed Internet Customers Increased by 375,000

 

NBCUniversal 1st Quarter 2019 Highlights:

 

·      NBCUniversal Revenue Decreased 12.5%; Adjusted EBITDA Increased 2.9%

 

·      Cable Networks and Broadcast Television Revenue Collectively Decreased 19.8%; Excluding $1.6 Billion of Incremental Revenue Generated by Last Year’s Successful Broadcasts of the 2018 PyeongChang Olympics and the NFL’s Super Bowl LII, Revenue Increased 5.0%

 

·      Filmed Entertainment Revenue Increased 7.4%, Including the Successful Theatrical Performances of How to Train Your Dragon: The Hidden World and Us in the Quarter; Adjusted EBITDA Increased 78.7%

 

Sky 1st Quarter 2019 Highlights:

 

·      Sky Revenue Decreased 5.0% and Adjusted EBITDA Decreased 17.0% on a Pro Forma Basis; Excluding the Impact of Currency, Revenue Increased 1.9% and Adjusted EBITDA Decreased 11.3% on a Pro Forma Basis, Reflecting New Contracts for Soccer Rights in Italy and Germany

 

·      Total Customer Relationships Increased 3.5% Year-Over-Year to 23.7 Million, Including Net Additions of 112,000 in the Quarter, a 74,000 Improvement from the First Quarter of 2018

 

PHILADELPHIA - April 25, 2019… Comcast Corporation (NASDAQ: CMCSA) today reported results for the quarter ended March 31, 2019.

 

Brian L. Roberts, Chairman and Chief Executive Officer of Comcast Corporation, said, “Comcast is off to a terrific start in 2019, financially, operationally and strategically. In the first quarter, we delivered strong EBITDA and earnings per share growth, as well as robust free cash flow. Comcast Cable had the best quarterly EBITDA growth in over a decade, while NBCUniversal again posted favorable results. We also continued to strengthen our leadership position in valuable customer relationships and premium content. Now with the inclusion of Sky, we grew customer relationships by 3.6% year-over-year, including 400,000 net additions in the first quarter, reaching over 54 million relationships in total. Across all parts of the company, our teams are executing at a high level and collaborating to drive growth and innovation. I’m excited about this quarter’s results and the opportunities ahead.”

 


The following information was filed by Comcast Corp (CMCSA) on Thursday, April 25, 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-Q Quarterly 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-Q Quarterly Report

Document And Entity Information
Condensed Consolidated Balance Sheet
Condensed Consolidated Balance Sheet (Parenthetical)
Condensed Consolidated Statement Of Cash Flows
Condensed Consolidated Statement Of Changes In Equity
Condensed Consolidated Statement Of Changes In Equity (Parenthetical)
Condensed Consolidated Statement Of Comprehensive Income
Condensed Consolidated Statement Of Comprehensive Income (Parenthetical)
Condensed Consolidated Statement Of Income
Commitments And Contingencies
Commitments And Contingencies (Narrative) (Details)
Commitments And Contingencies (Summary Of Future Minimum Rental Commitments For Operating Leases Under New Accounting Guidance) (Details)
Commitments And Contingencies (Summary Of Future Minimum Rental Commitments For Operating Leases Under Previous Accounting Guidance And Rent Expense) (Details)
Commitments And Contingencies (Summary Of Operating Lease Assets And Liabilities Recorded In The Consolidated Balance Sheets) (Details)
Commitments And Contingencies (Tables)
Condensed Consolidated Financial Statements
Condensed Consolidated Financial Statements (Details)
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)
Film And Television Costs
Film And Television Costs (Film And Television Costs) (Details)
Film And Television Costs (Tables)
Investments
Investments (Equity Method Investments) (Details)
Investments (Investment And Other 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 (Commercial Paper Programs) (Details)
Long-Term Debt (Guarantee Structure) (Details)
Long-Term Debt (Narrative) (Details)
Long-Term Debt (Revolving Credit Facilities) (Details)
Recent Accounting Pronouncements
Recent Accounting Pronouncements (Narrative) (Details)
Recent Accounting Pronouncements (Policies)
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 (Revenue By Geographic Location) (Details)
Revenue (Tables)
Segment Information
Segment Information (Details)
Segment Information (Reconciliation Of Adjusted Ebitda From Segment To Consolidated Statements) (Details)
Segment Information (Tables)
Significant Transactions
Significant Transactions (Allocation Of Purchase Price) (Details)
Significant Transactions (Sky Transaction) (Details)
Significant Transactions (Tables)
Significant Transactions (Unaudited Pro Forma Information) (Details)
Significant Transactions (Universal Beijing Resort) (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 (Components Of Accumulated Other Comprehensive Income (Loss)) (Details)
Supplemental Financial Information (Leases Narrative) (Details)
Supplemental Financial Information (Noncash Activities) (Details)
Supplemental Financial Information (Share-Based Compensation) (Details)
Supplemental Financial Information (Summary Of Future Minimum Rental Commitments And Rent Expense For Operating Leases Under Previous Accounting Guidance) (Details)
Supplemental Financial Information (Summary Of Future Minimum Rental Commitments For Operating Leases Under New Accounting Guidance) (Details)
Supplemental Financial Information (Summary Of Operating Lease Assets And Liabilities Recorded In The Consolidated Balance Sheets) (Details)
Supplemental Financial Information (Tables)
Ticker: CMCSA
CIK: 1166691
Form Type: 10-Q Quarterly Report
Accession Number: 0001166691-19-000010
Submitted to the SEC: Thu Apr 25 2019 3:33:21 PM EST
Accepted by the SEC: Thu Apr 25 2019
Period: Sunday, March 31, 2019
Industry: Cable And Other Pay Television Services

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