COMCAST CORP Quarterly Report for Q3 Ended Sep 30, 2012

Summary

Comcast Corporation (CMCSA) reported strong financial performance for the nine months ended September 30, 2012. Revenue increased by 14.3% to $46.633 billion, driven by growth in both the Cable Communications segment and the NBCUniversal businesses. Net income attributable to Comcast Corporation surged by 63.0% to $4.685 billion. The company demonstrated robust operating cash flow, with net cash provided by operating activities increasing to $11.239 billion. Key developments include the significant financial impact of the 2012 Super Bowl and London Olympics broadcasts on the Broadcast Television segment, and the completion of the SpectrumCo transaction, which provided substantial proceeds. Comcast also continued its commitment to shareholder returns through substantial share repurchases and dividend increases. The company maintains a strong liquidity position with a significant amount available under its revolving credit facility.

Key Highlights

• 1Consolidated revenue grew 14.3% to $46.6 billion for the nine months ended September 30, 2012, compared to the prior year period.
• 2Net income attributable to Comcast Corporation increased significantly by 63.0% to $4.685 billion for the nine months ended September 30, 2012.
• 3Operating income for the nine months increased by 13.9% to $8.885 billion.
• 4Cable Communications segment remains a significant revenue driver, accounting for 63% of consolidated revenue and over 80% of operating income before depreciation and amortization for the nine months.
• 5NBCUniversal segments also showed strong performance, with Broadcast Television revenue boosted by the 2012 Olympics and Super Bowl broadcasts.
• 6Net cash provided by operating activities was $11.239 billion for the nine months ended September 30, 2012.
• 7The company repurchased $2.25 billion of its Class A Special common stock during the nine months ended September 30, 2012.

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