Summary
Comcast Corporation's third quarter 2015 report shows solid top-line growth driven by its Cable Communications and NBCUniversal segments. Consolidated revenue increased by 11.2% year-over-year for the quarter and 8.3% for the first nine months. The Cable Communications segment continues to be a robust performer, with high-speed Internet revenue up over 10% and business services showing strong growth. NBCUniversal also saw significant revenue increases, notably in its Filmed Entertainment and Theme Parks divisions, reflecting successful content and park offerings. Despite revenue growth, net income attributable to Comcast Corporation saw a decline of 23.0% for the quarter and 4.1% for the nine months, primarily due to a significant increase in income tax expense in the current year periods and increased programming and production costs. The company also incurred transaction-related expenses associated with the terminated Time Warner Cable merger. Comcast continued its aggressive capital return program, repurchasing $5.8 billion in stock during the first nine months and increasing its dividend. The company maintains a strong liquidity position with substantial availability under its credit facilities, positioning it well to fund ongoing operations, capital expenditures, and strategic initiatives.
Financial Highlights
52 data points| Revenue | $18.67B |
| Operating Expenses | $14.67B |
| Operating Income | $4.00B |
| Interest Expense | $659.00M |
| Net Income | $2.00B |
| EPS (Basic) | $0.41 |
| EPS (Diluted) | $0.40 |
| Shares Outstanding (Basic) | 4.94B |
| Shares Outstanding (Diluted) | 5.00B |
Key Highlights
- 1Consolidated revenue grew by 11.2% year-over-year to $18.7 billion for the third quarter and 8.3% to $55.3 billion for the first nine months of 2015.
- 2Cable Communications segment revenue increased by 6.3%, driven by strong performance in High-speed Internet (up 10.2%) and Business Services (up 19.5%).
- 3NBCUniversal revenue surged by 20.8% in the third quarter, with notable contributions from Filmed Entertainment (up 64.0%) and Theme Parks (up 14.1%).
- 4Net income attributable to Comcast Corporation decreased by 23.0% for the quarter to $2.0 billion and by 4.1% for the nine months to $6.2 billion, largely due to higher income tax expenses.
- 5The company repurchased approximately $5.8 billion of its common stock in the first nine months of 2015, demonstrating a commitment to returning capital to shareholders.
- 6Operating cash flow remained strong, with Net cash provided by operating activities increasing by 12.3% to $13.8 billion for the nine months ended September 30, 2015.
- 7Transaction-related expenses of $198 million were incurred in the first nine months of 2015 due to the termination of the Time Warner Cable merger agreement.