Summary
Comcast Corporation's (CMCSA) Form 10-Q for the period ending June 30, 2011, highlights the significant impact of the recent acquisition of NBCUniversal. Consolidated revenue surged by 50.5% year-over-year to $14.3 billion for the quarter, driven by the inclusion of NBCUniversal's operations, which contributed $4.1 billion in revenue for the period. Operating income also saw a substantial increase of 41.4% to $2.9 billion. The company's core Cable Communications segment demonstrated resilience, with revenue up 5.6% to $9.3 billion, primarily driven by growth in high-speed Internet and phone services, although video customers saw a slight decline. Meanwhile, the newly integrated NBCUniversal segments, encompassing Cable Networks, Broadcast Television, Filmed Entertainment, and Theme Parks, collectively generated $5.2 billion in revenue and $1 billion in operating income before depreciation and amortization for the quarter. Significant investments in future growth are evident, including substantial capital expenditures and the acquisition of broadcast rights for multiple Olympic Games.
Financial Highlights
50 data points| Revenue | $14.33B |
| Operating Expenses | $11.39B |
| Operating Income | $2.94B |
| Interest Expense | $621.00M |
| Net Income | $1.02B |
| EPS (Basic) | $0.18 |
| EPS (Diluted) | $0.18 |
| Shares Outstanding (Basic) | 5.52B |
| Shares Outstanding (Diluted) | 5.58B |
Key Highlights
- 1Consolidated revenue increased by 50.5% to $14.3 billion for the three months ended June 30, 2011, largely due to the acquisition of NBCUniversal.
- 2Operating income grew by 41.4% to $2.9 billion, reflecting the combined strength of Comcast's cable business and NBCUniversal's media assets.
- 3The Cable Communications segment reported a 5.6% revenue increase to $9.3 billion, with strong growth in high-speed Internet and phone services, despite a slight decrease in video customers.
- 4The newly acquired NBCUniversal segments contributed $5.2 billion in revenue and $1 billion in operating income before depreciation and amortization for the quarter.
- 5Comcast secured U.S. broadcast rights for the 2014, 2016, 2018, and 2020 Olympic Games for $4.38 billion, indicating a significant long-term investment in major sporting events.
- 6Acquisition accounting for NBCUniversal resulted in significant increases in film and television costs, intangible assets, and goodwill on the balance sheet.
- 7The company repurchased approximately $1.1 billion of its Class A Special common stock during the six months ended June 30, 2011, demonstrating a commitment to returning capital to shareholders.