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Comcast Corp (CMCSA) SEC Filing 10-K Annual report for the fiscal year ending Tuesday, December 31, 2013

Comcast Corp

CIK: 1166691 Ticker: CMCSA

Exhibit 99.1

 

 

PRESS RELEASE

 

 

 

COMCAST REPORTS 4th QUARTER AND YEAR END 2013 RESULTS

 

 

2013 Highlights:

 

·                  Consolidated Revenue Increased 5.8% and Operating Cash Flow Increased 8.3%, Excluding the 2012 London Olympics, 2012 Super Bowl and 2013 Pension Termination Costs

 

·                  Consolidated Revenue Increased 3.3%, Operating Cash Flow Increased 7.3% and Operating Income Increased 11.4%

 

·                  Free Cash Flow Increased 6.9% to $8.5 Billion

 

4th Quarter 2013 Highlights:

 

·                  Consolidated Revenue Increased 6.2%, Operating Cash Flow Increased 7.0% and Operating Income Increased 10.7%

 

·                  Earnings per Share Increased 28.6% to $0.72; Excluding Favorable Tax Adjustments, EPS Increased 26.9% to $0.66

 

·                  Cable Communications Revenue Increased 5.2% and Operating Cash Flow Increased 4.8%

 

·                  Cable Communications Combined Video, High-Speed Internet and Voice Customers Increased by 649,000, a 29.0% Increase in Net Additions Compared to Fourth Quarter 2012

 

·                  Video Customers Increased by 43,000

 

·                  NBCUniversal Revenue Increased 7.5% and Operating Cash Flow Increased 14.3%

 

Dividends and Share Repurchase:

 

·                  Dividends and Share Repurchases Totaled $4.0 Billion in 2013

 

·                  Dividend to Increase 15.4% to $0.90 per Share on an Annualized Basis; Share Repurchase Authorization to Increase to $7.5 Billion, with $3.0 Billion to be Repurchased in 2014

 

PHILADELPHIA – January 28, 2014… Comcast Corporation (NASDAQ: CMCSA, CMCSK) today reported results for the quarter and year ended December 31, 2013.

 

Brian L. Roberts, Chairman and Chief Executive Officer of Comcast Corporation, said, “I am very pleased to report strong results for the 4th quarter and the full year 2013. Our optimism and confidence in the future is demonstrated by our decision to increase our dividend 15% and our plan to repurchase $3 billion of our stock during 2014. Our results highlight the momentum we have achieved and how we are benefitting from scale, our investment in innovative products, and from our focus on operational excellence. Cable’s operating metrics improved across video, high-speed Internet and voice for both the 4th quarter and full year, with a return to video subscriber growth in the 4th quarter. NBCUniversal had an outstanding year, with growth in Broadcast, Cable, Film and Parks.  As we begin 2014, we remain excited about our businesses and intend to continue to prudently invest to enhance our strategic differentiation and to drive growth.”

 

Consolidated Financial Results

 

 

4th Quarter

 

 

Full Year

 

($ in millions)

2012

2013

Growth

 

2012

2013

Growth

Revenue

$15,937

$16,926

6.2%

 

$62,570

$64,657

3.3%

Excluding Super Bowl & Olympics

 

 

 

 

$61,123

$64,657

5.8%

Operating Cash Flow (OCF)1

$5,277

$5,645

7.0%

 

$19,977

$21,434

7.3%

Excluding Olympics & Pension Costs

 

 

 

 

$19,857

$21,508

8.3%

Operating Income

$3,294

$3,647

10.7%

 

$12,179

$13,563

11.4%

Earnings per Share2

$0.56

$0.72

28.6%

 

$2.28

$2.56

12.3%

Excluding Adjustments (see Table 4)

$0.52

$0.66

26.9%

 

$1.93

$2.47

28.0%

Free Cash Flow3

$1,832

$1,435

(21.7%)

 

$7,939

$8,489

6.9%

 

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 or www.cmcsk.com.

 


The following information was filed by Comcast Corp (CMCSA) on Tuesday, January 28, 2014 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

Document And Entity Information
Consolidated Balance Sheet
Consolidated Balance Sheet (parenthetical)
Consolidated Statement Of Cash Flows
Consolidated Statement Of Changes In Equity
Consolidated Statement Of Changes In Equity (predecessor)
Consolidated Statement Of Comprehensive Income
Consolidated Statement Of Comprehensive Income (parenthetical)
Consolidated Statement Of Income
Accounting Policies
Accounting Policies (policy)
Business And Basis Of Presentation
Business And Basis Of Presentation (details)
Commitments And Contingencies
Commitments And Contingencies (minimum Annual Commitments Under The Programming License Agreements And Operating Leases) (details)
Commitments And Contingencies (narrative) (details)
Commitments And Contingencies (rental Expense) (details)
Commitments And Contingencies (tables)
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 (narrative) (details)
Condensed Consolidating Financial Information (tables)
Earnings Per Share
Earnings Per Share (details)
Earnings Per Share (tables)
Equity
Equity (aggregate Share Repurchases) (details)
Equity (changes In Common Stock) (details)
Equity (components Of Accumulated Other Comprehensive Income (loss)) (details)
Equity (narrative) (details)
Equity (tables)
Fair Value Disclosure Rollforward (details)
Fair Value Measurements
Fair Value Measurements (details)
Fair Value Measurements (tables)
Film And Television Costs
Film And Television Costs (film And Television Costs)(details)
Film And Television Costs (narrative)(details)
Film And Television Costs (tables)
Financial Data By Business Segment
Financial Data By Business Segment (details)
Financial Data By Business Segment (tables)
Goodwill (tables)
Goodwill And Intangible Assets
Goodwill And Intangible Assets (intangible Assets) (details)
Goodwill And Other Intangible Assets (amortization Of Intangible Assets) (details)
Goodwill Rollforward (details)
Income Taxes
Income Taxes (components Of Income Tax Expense) (details)
Income Taxes (components Of Net Deferred Tax Liability) (details)
Income Taxes (federal Statutory) (details)
Income Taxes (narrative) (details)
Income Taxes (reconciliation Of Unrecognized Tax Benefits) (details)
Income Taxes (tables)
Investments
Investments (cost Method Investments) (details)
Investments (details)
Investments (equity Method Investments) (details)
Investments (fair Value Method Investments) (details)
Investments (investment Income (loss), Net) (details)
Investments (tables)
Long-term Debt
Long-term Debt (commercial Paper Program) (details)
Long-term Debt (debt Maturities) (details)
Long-term Debt (details)
Long-term Debt (narrative) (details)
Long-term Debt (tables)
Noncontrolling Interests
Noncontrolling Interests (details)
Noncontrolling Interests (tables)
Pension Plans And Postretirement Benefits
Pension Plans And Postretirement Benefits (benefit Obligation And Expense For Our Split-dollar Life Insurance Agreements) (details)
Pension Plans And Postretirement Benefits (components Of Benefits Expense)(details)
Pension Plans And Postretirement Benefits (deferred Compensation Plans) (details)
Pension Plans And Postretirement Benefits (information On Our Pension Benefit Plans) (details)
Pension Plans And Postretirement Benefits (narrative) (details)
Postretirement, Pension And Other Employee Benefit Plans (tables)
Property And Equipment
Property And Equipment (details)
Property And Equipment (tables)
Quarterly Financial Information
Quarterly Financial Information (details)
Quarterly Financial Information (tables)
Receivables Monetization
Receivables Monetization (effect On Income From Receivables Monetization And Cash Flows On Transfers)(details)
Receivables Monetization (narrative)(details)
Receivables Monetization (receivables Monetized And Deferred Consideration)(details)
Receivables Monetization (tables)
Related Party Transactions
Related Party Transactions (narrative) (details)
Related Party Transactions (tables)
Related Party Transactions - Consolidated Balance Sheet (details)
Related Party Transactions - Consolidated Statement Of Income (details)
Schedule Ii Valuation And Qualifying Accounts
Schedule Ii Valuation And Qualifying Accounts (details)
Schedule Ii Valuation And Qualifying Accounts (tables)
Share-based Compensation
Share-based Compensation (narrative) (details)
Share-based Compensation (recognized Share-based Compensation Expense) (details)
Share-based Compensation (restricted Share Units And Stock Option Fair Value) (details)
Share-based Compensation (stock Options And Restricted Share Units) (details)
Share-based Compensation (tables)
Significant Transactions
Significant Transactions (narrative) (details)
Supplemental Financial Information
Supplemental Financial Information (cash Payments For Interest And Income Taxes)(details)
Supplemental Financial Information (noncash Investing And Financing Activities)(details)
Supplemental Financial Information (other Cash Flow Information) (details)
Supplemental Financial Information (receivables)(details)
Supplemental Financial Information (tables)
Ticker: CMCSA
CIK: 1166691
Form Type: 10-K Annual Report
Accession Number: 0001193125-14-047522
Submitted to the SEC: Wed Feb 12 2014 12:49:52 PM EST
Accepted by the SEC: Wed Feb 12 2014
Period: Tuesday, December 31, 2013
Industry: Cable And Other Pay Television Services

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