Summary
Comcast Corporation's first-quarter 2011 report highlights significant growth driven by the acquisition of NBCUniversal, which closed on January 28, 2011. Consolidated revenue surged by 31.8% year-over-year to $12.1 billion, and operating income increased by 14.9% to $2.2 billion. This growth is largely attributable to the integration of NBCUniversal's diverse media and entertainment assets. The company's core Cable Communications segment also demonstrated resilience, with revenue up 5.8% and operating income before depreciation and amortization rising 7.7%. This segment continues to be a stable revenue generator, though it experienced a slight decline in video customers, offset by gains in high-speed Internet and phone subscribers. The NBCUniversal segments, including Cable Networks, Broadcast Television, Filmed Entertainment, and Theme Parks, contributed substantially to the overall financial performance, although the Filmed Entertainment and Broadcast Television segments faced challenges and revenue declines. Comcast also continued its commitment to returning capital to shareholders, repurchasing approximately $525 million in stock and increasing its quarterly dividend by 19% to $0.45 per share annually. Despite the significant integration efforts and associated transaction costs, the company appears well-positioned to leverage its expanded media portfolio for future growth.
Financial Highlights
51 data points| Revenue | $12.13B |
| Operating Expenses | $9.90B |
| Operating Income | $2.22B |
| Interest Expense | $605.00M |
| Net Income | $943.00M |
| EPS (Basic) | $0.17 |
| EPS (Diluted) | $0.17 |
| Shares Outstanding (Basic) | 5.54B |
| Shares Outstanding (Diluted) | 5.61B |
Key Highlights
- 1Consolidated revenue increased 31.8% to $12.1 billion, primarily due to the acquisition of NBCUniversal.
- 2Operating income rose 14.9% to $2.2 billion, reflecting the positive impact of the NBCUniversal integration.
- 3Cable Communications segment revenue grew 5.8% to $9.1 billion, with strong performance in High-speed Internet and Phone services, despite a slight decrease in video customers.
- 4The NBCUniversal acquisition, which closed in late January 2011, added $2.2 billion in revenue and $212 million in operating income before depreciation and amortization.
- 5Comcast repurchased approximately $525 million of its Class A Special common stock.
- 6The company increased its quarterly dividend by 19% to $0.1125 per share, an annualized rate of $0.45 per share.
- 7Significant transaction costs of $107 million were incurred related to the NBCUniversal acquisition.