Summary
Comcast Corporation's Q3 2011 filing shows significant growth driven by the acquisition of NBCUniversal, which closed in January 2011. Revenue increased by 51.1% for the quarter and 44.6% for the nine months ended September 30, 2011, largely due to the integration of NBCUniversal's businesses. While the Cable Communications segment continues to perform steadily, with revenue up 5.0% for the quarter and 5.5% for the nine months, the substantial contribution from NBCUniversal has reshaped the company's financial profile. Despite the revenue surge, operating costs and expenses also rose significantly (65.2% quarterly, 57.8% year-to-date), largely attributable to the inclusion of NBCUniversal's operations and associated amortization expenses. Net income attributable to Comcast Corporation saw a more modest increase of 4.7% for the quarter, reaching $908 million, and 9.8% year-to-date, reaching $2.87 billion. This highlights the impact of increased operating costs and interest expenses associated with the acquisition. The company continues its share repurchase program and dividend payments, indicating a focus on returning value to shareholders.
Financial Highlights
50 data points| Revenue | $14.34B |
| Operating Expenses | $11.70B |
| Operating Income | $2.64B |
| Interest Expense | $637.00M |
| Net Income | $908.00M |
| EPS (Basic) | $0.17 |
| EPS (Diluted) | $0.17 |
| Shares Outstanding (Basic) | 5.48B |
| Shares Outstanding (Diluted) | 5.52B |
Key Highlights
- 1Revenue surged by 51.1% in Q3 2011 and 44.6% for the first nine months of 2011, primarily due to the integration of NBCUniversal.
- 2Net income attributable to Comcast Corporation increased by 4.7% in Q3 2011 to $908 million and by 9.8% year-to-date to $2.87 billion.
- 3Cable Communications segment revenue grew by 5.0% in Q3 and 5.5% year-to-date, demonstrating continued strength in its core business.
- 4High-speed Internet customers increased by 823,000 and Phone customers by 586,000 year-to-date, while Video customers decreased by 443,000.
- 5Significant increases in operating costs and expenses (65.2% in Q3, 57.8% year-to-date) were driven by the inclusion of NBCUniversal operations and associated amortization.
- 6Comcast continued its share repurchase program, buying back approximately 73 million shares for $1.7 billion during the first nine months of 2011.
- 7Interest expense increased significantly due to the debt assumed from the NBCUniversal acquisition.