Comcast Corp (CMCSA) 10-K Annual Report Thu Jan 30 2020

Brian L. Roberts, Chairman and Chief Executive Officer of Comcast Corporation, said, "We delivered strong operational and financial results in the fourth quarter, capping another great year for Comcast, including double-digit growth in full-year adjusted EPS, record free cash flow and 1.4 million broadband net additions in the U.S. Our teams at Cable, NBCUniversal and Sky continued to execute at a high level, strengthening our leadership position in our markets. Looking ahead, in 2020 we are leaning into exciting opportunities, including: further differentiating our broadband product in the U.S. through innovations like Flex and xFi Advanced Security; accelerating the deployment of Sky Q; launching a new broadband service in Italy; debuting Super Nintendo World at Universal Studios Japan; and introducing a world-class streaming service - Peacock - which leverages capabilities from across Comcast. Underscoring our confidence in the continued success of our company, we are pleased to announce a 10% increase in our dividend, our 12th consecutive annual increase."




($ in millions, except per share data)
	4th Quarter						Full Year
Consolidated Results	2018 ⁵		2019		Growth		2018 ⁵		2019		Growth

Revenue		$27,846		$28,398	2.0	%		$94,507		$108,942	15.3	%
Net Income Attributable to Comcast		$2,511		$3,162	25.9	%		$11,731		$13,057	11.3	%
Adjusted EBITDA¹		$8,191		$8,436	3.0	%		$30,165		$34,258	13.6	%
Earnings per Share²		$0.55		$0.68	23.6	%		$2.53		$2.83	11.9	%
Earnings per Share, Adjusted Basis³ (see Table 5)		$0.72		$0.79	9.7	%		$2.73		$3.13	14.7	%
Net Cash Provided by Operating Activities		$5,790		$6,235	7.7	%		$24,297		$25,697	5.8	%
Free Cash Flow⁴		$2,063		$2,484	20.4	%		$12,588		$13,394	6.4	%

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.

Full Year 2019 Highlights:


•	Consolidated Adjusted EBITDA Increased 13.6%; Earnings per Share Increased 14.7% to $3.13, on an Adjusted Basis; Generated Free Cash Flow of $13.4 Billion


•	Cable Communications Adjusted EBITDA Increased 7.3% and Adjusted EBITDA per Customer Relationship Increased 3.5%


•	Cable Communications Total Customer Relationships Increased by 1.1 Million, the Best Result on Record; Total High-Speed Internet Customers Increased by 1.4 Million, the Best Result in 12 Years


•	NBCUniversal Filmed Entertainment Adjusted EBITDA Increased 13.5%


•	Sky Adjusted EBITDA Increased 7.1% on a Pro Forma Basis to $3.1 Billion; Excluding the Impact of Currency, Adjusted EBITDA Increased 12.2% on a Pro Forma Basis

4th Quarter 2019 Highlights:


•	Consolidated Adjusted EBITDA Increased 3.0%; Earnings per Share Increased 9.7% to $0.79, on an Adjusted Basis; Generated Free Cash Flow of $2.5 Billion


•	Cable Communications Adjusted EBITDA Increased 5.4%


•	Cable Communications Total Customer Relationship Net Additions were 372,000, the Best Quarterly Net Additions on Record; Total High-Speed Internet Customer Net Additions were 442,000


•	NBCUniversal Broadcast Television Adjusted EBITDA Increased 14.2%


•	Sky Total Customer Relationships Increased 1.7% Year-Over-Year to 24.0 Million, Including Net Additions of 77,000 in the Quarter

Dividends:


•	Dividends Paid Totaled $3.7 Billion in 2019; Increased Dividend by 10% to $0.92 per Share on an Annualized Basis for 2020

The following information was filed by Comcast Corp (CMCSA) on Thursday, January 23, 2020 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

Material Contracts, Statements, Certifications & more

Comcast Corp provided additional information to their SEC Filing as exhibits

Exhibit 3.5: Articles Of Incorporation

Exhibit 4.15: Instruments Defining The Rights Of Security Holders, Including Indentures

Exhibit 10.13: Material Contract

Exhibit 10.14: Material Contract

Exhibit 10.16: Material Contract

Exhibit 10.20: Material Contract

Exhibit 10.24: Material Contract

Exhibit 10.26: Material Contract

Exhibit 10.29: Material Contract

Exhibit 10.31: Material Contract

Exhibit 21.1: Subsidaries Of The Registrant

Exhibit 23.1: Consents Of Experts And Counsel

Exhibit 23.2: Consents Of Experts And Counsel

Exhibit 31.1: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 31.2: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 32.1: Section 1350 Certification

Exhibit 32.2: Section 1350 Certification

Ticker: CMCSA
CIK: 1166691
Form Type: 10-K Annual Report
Accession Number: 0001166691-20-000008
Submitted to the SEC: Thu Jan 30 2020 4:41:57 PM EST
Accepted by the SEC: Thu Jan 30 2020
Period: Tuesday, December 31, 2019
Industry: Cable And Other Pay Television Services