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Comcast Corp (CMCSA) SEC Filing 10-Q Quarterly report for the period ending Tuesday, March 31, 2020

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Comcast Corp

HISTORY TOOLS
CIK: 1166691 Ticker: CMCSA
 
 
 
        comcastlogo2a02.jpg  
 
PRESS RELEASE

COMCAST REPORTS 1st QUARTER 2020 RESULTS
PHILADELPHIA - April 30, 2020… Comcast Corporation (NASDAQ: CMCSA) today reported results for the quarter ended March 31, 2020.
“Society is being challenged like never before in our lifetime, and I couldn’t be prouder of our company, our employees, and our leadership team across Comcast Cable, NBCUniversal, and Sky. Now more than ever the world needs to stay connected, and we’re extremely pleased that our investments in our network continue to pay off as we are handling significant increases in traffic and meeting our customers’ needs. While parts of our business have been more impacted by COVID-19 than others, we have continued to innovate. We are distributing our content in new ways, as evidenced by the recent launch of Peacock on X1 and Flex. We've also taken decisive action, having moved over 95% of our U.S. call-center employees to work from home and putting in place new procedures that have allowed more than 15,000 construction workers to safely come back to work to build our theme park in Beijing. All the divisions of our company are in constant communication, and the level of collaboration has been extraordinary. We have a strong balance sheet, terrific portfolio of assets, and a world-class management team. This is a moment in time; and when it passes, I am very confident that the decisions we are making now will enable us to emerge from this crisis as a healthy, strong company that is well positioned to continue to grow and succeed," commented Brian L. Roberts, Chairman and Chief Executive Officer of Comcast Corporation.
 
 
 
 
 
 
 
($ in millions, except per share data)
 
 
 
 
 
 
1st Quarter
 
 
Consolidated Results
2020

2019

Growth

 
 
 
 
 
 
 
 
Revenue

$26,609


$26,859

(0.9
%)
 
 
Net Income Attributable to Comcast

$2,147


$3,553

(39.6
%)
 
 
Adjusted Net Income1

$3,266


$3,477

(6.1
%)
 
 
Adjusted EBITDA2

$8,130


$8,553

(4.9
%)
 
 
Earnings per Share3

$0.46


$0.77

(40.3
%)
 
 
Adjusted EPS1 

$0.71


$0.76

(6.6
%)
 
 
Net Cash Provided by Operating Activities

$5,824


$7,231

(19.5
%)
 
 
Free Cash Flow4

$3,325


$4,592

(27.6
%)
 
 
 
 
 
 
 
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.
1st Quarter 2020 Highlights:
•
Generated Consolidated Adjusted EBITDA of $8.1 Billion, Adjusted EPS of $0.71 and Free Cash Flow of $3.3 Billion
•
Total Customer Relationships Across Cable Communications and Sky Increased 2.6% Year-Over-Year to 55.8 Million
•
Cable Communications Total Customer Relationships Increased by 371,000 in the Quarter, the Best First Quarter Result on Record
•
Total High-Speed Internet Customer Net Additions Were 477,000 (Not Including 32,000 Free Internet Essentials Customers), the Best Quarterly Result in 12 Years
•
Cable Communications Adjusted EBITDA Increased 6.1% Driven by Strength in High-Speed Internet and Business Services
Key Responses to COVID-19:
•
Maintained Network Reliability: Since March 1, Cable Communications Has Seen a 33% Increase in Upstream Traffic and a 40% Increase in Wireless Data Usage Over WiFi
•
Keeping Customers Connected: Cable Communications and Sky are expanding access to vital internet and phone services, with Xfinity WiFi outdoor and business hotspots open in the U.S. for free, and Sky Talk offering free calls to UK landlines any time of day



The following information was filed by Comcast Corp (CMCSA) on Thursday, April 30, 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-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 Comcast Corp's 10-Q Quarterly Report:

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 Comprehensive Income
Condensed Consolidated Statement Of Comprehensive Income (Parenthetical)
Condensed Consolidated Statement Of Income
Commitments And Contingencies
Commitments And Contingencies (Narrative) (Details)
Condensed Consolidated Financial Statements
Earnings Per Share
Earnings Per Share (Details)
Earnings Per Share (Tables)
Intangible Assets
Intangible Assets (Amortization Of Intangible Assets) (Details)
Intangible Assets (Summary Of Intangible Assets) (Details)
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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 (Narrative) (Details)
Programming And Production Costs
Programming And Production Costs (Capitalized Film And Television Costs And Programming Rights) (Details)
Programming And Production Costs (Estimated Future Amortization Expense For Capitalized Film And Television Costs And Programming Rights) (Details)
Programming And Production Costs (Recognized Programming And Production Costs) (Details)
Programming And Production Costs (Tables)
Recent Accounting Pronouncements
Recent Accounting Pronouncements (Narrative) (Details)
Recent Accounting Pronouncements (Policies)
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 (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 (Noncash Activities) (Details)
Supplemental Financial Information (Share-Based Compensation) (Details)
Supplemental Financial Information (Tables)
Ticker: CMCSA
CIK: 1166691
Form Type: 10-Q Quarterly Report
Accession Number: 0001166691-20-000017
Submitted to the SEC: Thu Apr 30 2020 3:24:15 PM EST
Accepted by the SEC: Thu Apr 30 2020
Period: Tuesday, March 31, 2020
Industry: Cable And Other Pay Television Services

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