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Comcast Corp (CMCSA) SEC Filing 10-Q Quarterly report for the period ending Monday, September 30, 2019

Comcast Corp

CIK: 1166691 Ticker: CMCSA

 

Exhibit 99.1

 

    PRESS RELEASE

 

COMCAST REPORTS 3rd QUARTER 2019 RESULTS

 

PHILADELPHIA - October 24, 2019… Comcast Corporation (NASDAQ: CMCSA) today reported results for the quarter ended September 30, 2019, including Cable Communications, NBCUniversal and Sky.

 

Brian L. Roberts, Chairman and Chief Executive Officer of Comcast Corporation, said, “We delivered excellent results in the third quarter, surpassing 55 million customer relationships and generating strong pro forma growth in adjusted EBITDA and double-digit growth in adjusted EPS. We continued our long track record of highly-profitable growth, while also investing in our businesses to further strengthen our leading competitive position. Cable had its highest third quarter broadband net additions in 10 years, which drove its best quarterly net additions in total customer relationships on record; NBC ranked #1 in primetime for the sixth consecutive 52-week season; and Sky’s channels had a 10% increase in household viewership. These and our many other accomplishments during the quarter underscore our strategic focus on innovation and providing our customers with superior products, services and experiences. Together, with our leading scale in high-value customer relationships and premium content, we are strategically positioned to thrive in our evolving global industry."

 

($ in millions, except per share data)                          
    3rd Quarter     Year to Date
Consolidated Results   2018 5   2019   Growth     2018 5   2019   Growth
                           
Revenue   $22,135   $26,827   21.2%     $66,661   $80,544   20.8%
Net Income Attributable to Comcast   $2,886   $3,217   11.5%     $9,220   $9,895   7.3%
Adjusted EBITDA1   $7,313   $8,553   17.0%     $21,974   $25,822   17.5%
Earnings per Share2   $0.62   $0.70   12.9%     $1.98   $2.15   8.6%
Earnings per Share, Adjusted Basis3 (see Table 5)   $0.68   $0.79   16.2%     $2.02   $2.33   15.3%
Net Cash Provided by Operating Activities   $5,970   $5,191   (13.0%)     $18,507   $19,462   5.2%
Free Cash Flow4   $3,141   $2,072   (34.0%)     $10,525   $10,910   3.7%

For additional detail on segment revenue and expenses, customer metrics, capital expenditures, and free cash flow, please refer to the trending schedules on Comcast’s Investor Relations website at www.cmcsa.com.

 

Consolidated 3rd Quarter 2019 Highlights:

  Consolidated Adjusted EBITDA Increased 17.0%
  Earnings per Share Increased 16.2% to $0.79, on an Adjusted Basis
  Generated Free Cash Flow of $2.1 Billion

 

Cable Communications 3rd Quarter 2019 Highlights:

  Cable Communications Adjusted EBITDA Increased 6.7% and Adjusted EBITDA per Customer Relationship Increased 3.2%
  Total Customer Relationships Increased 3.4% Year-Over-Year to 31.2 Million, Including Net Additions of 309,000 in the Quarter
  High-Speed Internet Residential Revenue Increased 9.3%; Business Services Revenue Increased 9.3%; Total High-Speed Internet Customers Increased by 379,000

 

NBCUniversal 3rd Quarter 2019 Highlights:

  NBCUniversal Adjusted EBITDA Increased 1.6%, Despite Expected Difficult Studio Comparisons at TV and Film
  Broadcast Television Adjusted EBITDA Increased 5.1%
  NBC Ranked #1 in Primetime Among Adults 18-49 for the 2018-2019 Season for the Sixth Consecutive Year

 

Sky 3rd Quarter 2019 Highlights:

  Sky Adjusted EBITDA Increased 38.3% on a Pro Forma Basis; Excluding the Impact of Currency, Adjusted EBITDA Increased 46.0% on a Pro Forma Basis
  Total Customer Relationships Increased 2.1% Year-Over-Year to 23.9 Million, With Net Additions of 482,000 in the Last Twelve Months

 


The following information was filed by Comcast Corp (CMCSA) on Thursday, October 24, 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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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 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)
Goodwill
Goodwill (Schedule Of Change In Goodwill) (Details)
Goodwill (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 (Guarantee Structure) (Details)
Long-Term Debt (Narrative) (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 (Acquisition-Related Expenses) (Details)
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)

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Comcast Corp provided additional information to their SEC Filing as exhibits

Ticker: CMCSA
CIK: 1166691
Form Type: 10-Q Quarterly Report
Accession Number: 0001166691-19-000020
Submitted to the SEC: Thu Oct 24 2019 3:28:40 PM EST
Accepted by the SEC: Thu Oct 24 2019
Period: Monday, September 30, 2019
Industry: Cable And Other Pay Television Services

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