Summary
Comcast Corporation's 2008 10-K filing reveals a year of significant revenue and operating income growth, driven primarily by its Cable segment. Despite facing intensifying competition from DBS and phone companies, and a weakening economy, Comcast managed to expand its customer base across video, high-speed internet, and phone services. The company also made strategic investments, including in Clearwire for 4G wireless technology, and continued to focus on digital transitions and bandwidth recapture. Key financial highlights include a 10.9% increase in consolidated revenue to $34.3 billion and a 20.7% rise in consolidated operating income to $6.7 billion. The company also initiated a quarterly dividend and continued its share repurchase program, demonstrating a commitment to returning capital to shareholders. While the company's core cable business remains robust, management acknowledged the impact of economic conditions and competition on customer additions, forecasting a slowdown in growth for 2009. Significant investments in technology and infrastructure, alongside ongoing regulatory scrutiny and potential changes in the competitive landscape, are factors investors should monitor. The company's substantial capital expenditures, primarily in its Cable segment, reflect its commitment to network upgrades and service expansion.
Financial Highlights
51 data points| Revenue | $34.42B |
| SG&A Expenses | $7.63B |
| Operating Expenses | $27.69B |
| Operating Income | $6.73B |
| Interest Expense | $2.44B |
| Net Income | $2.55B |
| EPS (Basic) | $0.43 |
| EPS (Diluted) | $0.43 |
| Shares Outstanding (Basic) | 5.88B |
| Shares Outstanding (Diluted) | 5.90B |
Key Highlights
- 1Consolidated revenue grew by 10.9% to $34.3 billion in 2008, with the Cable segment contributing approximately 95% of this revenue.
- 2Consolidated operating income increased by 20.7% to $6.7 billion, reflecting strong performance across segments.
- 3The Cable segment saw a 10.7% revenue increase to $32.4 billion, driven by growth in video, high-speed Internet, and phone customers.
- 4Comcast added approximately 1.5 million digital video, 1.3 million high-speed Internet, and 2.0 million digital phone customers in 2008.
- 5Capital expenditures in the Cable segment were reduced by 7.5% to $5.5 billion, indicating a focus on efficiency.
- 6The company initiated a quarterly dividend of $0.0625 per share in February 2008.
- 7Comcast repurchased approximately 141 million shares of its common stock for $2.8 billion.
- 8Significant investment made in Clearwire for the development of a nationwide 4G wireless network.