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Comcast Corp (CMCSA) SEC Filing 10-Q Quarterly report for the period ending Tuesday, June 30, 2020

Comcast Corp

CIK: 1166691 Ticker: CMCSA
 
 
 
        comcastlogo2a02.jpg  
 
PRESS RELEASE

COMCAST REPORTS 2nd QUARTER 2020 RESULTS
PHILADELPHIA - July 30, 2020 Comcast Corporation (NASDAQ: CMCSA) today reported results for the quarter ended June 30, 2020.
“Our response to COVID-19 has been extraordinarily fast and effective, and our products and brands continue to resonate strongly with our customers across all segments and all geographies. The solid results that we delivered in the quarter highlight the resilience of our company. Cable delivered record second quarter customer relationship net adds, driven by the best second quarter high-speed internet net adds in 13 years. NBCUniversal successfully launched Peacock in Cable’s footprint in April, ahead of the streaming service’s U.S. nationwide launch earlier this month, with 10 million sign-ups to date. NBCUniversal also just recently announced a deal with AMC Theatres in the U.S. that allows Universal to release titles across PVOD platforms after a 17-day exclusive theatrical window. At Sky, our flexible strategy helped retain customers until key sports returned in May and June. Overall, based on our results and the many organic growth opportunities that we have across our company, I am confident in our ability to continue to successfully navigate the impact of COVID-19, and emerge from the crisis even stronger. I could not be more proud of how our teams across Comcast Cable, NBCUniversal and Sky are together managing the business," commented Brian L. Roberts, Chairman and Chief Executive Officer of Comcast Corporation.
 
 
 
 
 
 
 
 
 
 
 
 
($ in millions, except per share data)
 
 
 
 
 
 
 
 
 
 
 
2nd Quarter
 
 
Year to Date
 
 
Consolidated Results
2020

2019

Change

 
 
2020

2019

Change

 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue

$23,715


$26,858

(11.7
%)
 
 

$50,324


$53,717

(6.3
%)
 
 
Net Income Attributable to Comcast

$2,988


$3,125

(4.4
%)
 
 

$5,135


$6,678

(23.1
%)
 
 
Adjusted Net Income1

$3,170


$3,610

(12.2
%)
 
 

$6,436


$7,087

(9.2
%)
 
 
Adjusted EBITDA2

$7,927


$8,716

(9.1
%)
 
 

$16,057


$17,269

(7.0
%)
 
 
Earnings per Share3

$0.65


$0.68

(4.4
%)
 
 

$1.11


$1.45

(23.4
%)
 
 
Adjusted Earnings per Share1 

$0.69


$0.78

(11.5
%)
 
 

$1.40


$1.54

(9.1
%)
 
 
Net Cash Provided by Operating Activities

$8,643


$7,040

22.8
%
 
 

$14,467


$14,271

1.4
%
 
 
Free Cash Flow4

$5,966


$4,246

40.5
%
 
 

$9,291


$8,838

5.1
%
 
 
 
 
 
 
 
 
 
 
 
 
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.
2nd Quarter 2020 Highlights:
Generated Consolidated Adjusted EBITDA of $7.9 Billion, Adjusted EPS of $0.69 and Free Cash Flow of $6.0 Billion
Cable Communications Total Customer Relationships Increased by 217,000 in the Quarter, the Best Second Quarter Result on Record
Total High-Speed Internet Customer Net Additions Were 323,000 (Not Including Over 600,000 Additional High-Risk or Free Internet Essentials Customers That Still Receive Our Service, But Were Not Included in Reported Results), the Best Second Quarter Result in 13 Years
Cable Communications Adjusted EBITDA Increased 5.5% Driven by Strength in High-Speed Internet
Cable Communications Extended Its Offer of 60 Days of Free Internet Service to Eligible New Internet Essentials Customers and Free Access to Public Xfinity WiFi Hotspots Through Year-End
Successfully Launched Peacock, NBCUniversal's New Highly Anticipated Streaming Service, Free to Xfinity X1 and Flex Customers on April 15, Ahead of National Debut on July 15, With 10 Million Sign-Ups to Date
NBCUniversal Re-Opened Universal Orlando Resort and Universal Studios Japan After Temporary Closures Due to COVID-19
Sky Successfully Retained 99% of Total Customers and 95% of Sports Subscribers Since the Crisis Began
Sky’s Key Sports Have Returned, Including Bundesliga in May and the Premier League and Serie A in June


The following information was filed by Comcast Corp (CMCSA) on Thursday, July 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)
Intangible Assets (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 (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)

Material Contracts, Statements, Certifications & more

Comcast Corp provided additional information to their SEC Filing as exhibits

Ticker: CMCSA
CIK: 1166691
Form Type: 10-Q Quarterly Report
Accession Number: 0001166691-20-000024
Submitted to the SEC: Thu Jul 30 2020 6:31:48 PM EST
Accepted by the SEC: Thu Jul 30 2020
Period: Tuesday, June 30, 2020
Industry: Cable And Other Pay Television Services

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