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Comcast Corp (CMCSA) SEC Filing 10-Q Quarterly Report for the period ending Wednesday, March 31, 2021

Comcast Corp

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CIK: 1166691 Ticker: CMCSA
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PRESS RELEASE
COMCAST REPORTS 1st QUARTER 2021 RESULTS
PHILADELPHIA - April 29, 2021… Comcast Corporation (NASDAQ: CMCSA) today reported results for the quarter ended March 31, 2021.
“We are off to a great start in 2021. Our entire company performed well across the board, highlighted by another strong performance from cable, which posted its third consecutive quarter of double-digit Adjusted EBITDA growth, while adding the most quarterly customer relationships in our company’s history. Outside of cable, I was also very pleased by the persistent recovery and increasing momentum at NBCUniversal and Sky. Our theme parks once again reached breakeven, excluding Universal Beijing Resort pre-opening costs; and – to the delight of our guests – we successfully re-opened Universal Studios Hollywood on April 16th. At Sky, customer relationship additions increased by 221,000, marking the best first quarter result in six years despite the lockdowns imposed throughout Europe. Across all parts of the company, our teams are executing at a high level and collaborating to drive growth and innovation, and I couldn’t be more excited about our future," commented Brian L. Roberts, Chairman and Chief Executive Officer of Comcast Corporation.
($ in millions, except per share data)
1st Quarter
Consolidated Results20212020Change
Revenue $27,205 $26,609 2.2 %
Net Income Attributable to Comcast$3,329 $2,147 55.1 %
Adjusted Net Income1
$3,529 $3,266 8.1 %
Adjusted EBITDA2
$8,413 $8,130 3.5 %
Earnings per Share3
$0.71 $0.46 54.3 %
Adjusted Earnings per Share1
$0.76 $0.71 7.0 %
Net Cash Provided by Operating Activities$7,751 $5,824 33.1 %
Free Cash Flow4
$5,280 $3,325 58.8 %
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 2021 Highlights:
•Consolidated Adjusted EBITDA Increased 3.5%; Adjusted EPS Increased 7.0% to $0.76; Generated Free Cash Flow of $5.3 Billion
•Total Customer Relationships Across Cable Communications and Sky Increased 3.3% Year-Over-Year to 56.9 Million, Including Net Additions of 602,000 in the Quarter
•Cable Communications Total Customer Relationship Net Additions Were 380,000, the Best First Quarter Result on Record; Total Broadband Customer Net Additions Were 461,000
•Cable Communications Adjusted EBITDA Increased 12.4% and Adjusted EBITDA per Customer Relationship Increased 7.0%
•Cable Communications’ Wireless Business Reached Breakeven for the First Time Since Launch in 2017; Total Customer Line Net Additions Were 278,000, the Best Quarterly Result on Record
•Marked the 10 Year Anniversary of Cable Communications’ Internet Essentials Program and Continued to Invest in Lift Zones, Comcast Rise, and Other Important Programs That Help Close the Digital Divide and Increase Equity in the Communities in Which We Serve
•Theme Parks Reached Breakeven for the Second Consecutive Quarter Excluding Universal Beijing Resort Pre-Opening Costs
•Peacock Has 42 Million Sign-Ups to Date Across the U.S., Benefiting from the Recent Addition of Exclusive Domestic Streaming Rights to WWE Network and The Office
•Sky Launched ‘Sky Connect’ to Provide Small Businesses in the U.K. with a Better Broadband Experience; Utilized Cable Communications’ Award-Winning Portfolio of Solutions and Services in the U.S.
•Amid Renewed Lock-Downs in Europe During the Quarter, Sky Total Customer Relationships Increased by 221,000 to 23.4 Million, the Best First Quarter Result in Six Years; Revenue Increased 10.6%, or 2.0% On a Constant Currency Basis, Led by Growth in Our U.K. Market


The following information was filed by Comcast Corp (CMCSA) on Thursday, April 29, 2021 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

Cover Page
Condensed Consolidated Balance Sheet (Unaudited)
Condensed Consolidated Balance Sheet (Unaudited) (Parenthetical)
Condensed Consolidated Statement Of Cash Flows (Unaudited)
Condensed Consolidated Statement Of Changes In Equity (Unaudited)
Condensed Consolidated Statement Of Comprehensive Income (Unaudited)
Condensed Consolidated Statement Of Comprehensive Income (Unaudited) (Parenthetical)
Condensed Consolidated Statement Of Income (Unaudited)
Commitments And Contingencies
Commitments And Contingencies (Narrative) (Details)
Condensed Consolidated Financial Statements
Condensed Consolidated Financial Statements (Policies)
Equity And Share-Based Compensation
Equity And Share-Based Compensation (Components Of Accumulated Other Comprehensive Income (Loss)) (Details)
Equity And Share-Based Compensation (Narrative) (Details)
Equity And Share-Based Compensation (Recognized Share-Based Compensation Expense) (Details)
Equity And Share-Based Compensation (Tables)
Equity And Share-Based Compensation (Weighted Average Common Shares Outstanding) (Details)
Investments
Investments (Equity Method Investments) (Details)
Investments (Investment And Other Income (Loss), Net) (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 (Recognized Programming And Production Costs) (Details)
Programming And Production Costs (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 (Schedule Of Change In Goodwill) (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 (Noncash Activities) (Details)
Supplemental Financial Information (Tables)
Ticker: CMCSA
CIK: 1166691
Form Type: 10-Q Quarterly Report
Accession Number: 0001166691-21-000020
Submitted to the SEC: Thu Apr 29 2021 3:22:23 PM EST
Accepted by the SEC: Thu Apr 29 2021
Period: Wednesday, March 31, 2021
Industry: Cable And Other Pay Television Services

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