Summary
Comcast Corporation (CMCSA) reported strong revenue growth in the second quarter and first half of 2016, driven by its Cable Communications and NBCUniversal segments. The company's Cable Communications segment saw a 6.0% revenue increase driven by high-speed internet and business services, while NBCUniversal benefited from the acquisition of Universal Studios Japan and strong performance in Cable Networks and Broadcast Television segments. Net income attributable to Comcast Corporation decreased slightly year-over-year for the quarter and half-year, primarily due to higher operating expenses and interest expenses. Financially, Comcast demonstrated robust operating cash flow and maintained a strong liquidity position with substantial availability under its revolving credit facilities. The company announced a significant acquisition of DreamWorks Animation for approximately $3.8 billion, which is expected to close in 2016. Comcast also continued its commitment to returning capital to shareholders through share repurchases and dividend payments.
Financial Highlights
52 data points| Revenue | $19.27B |
| Operating Expenses | $15.20B |
| Operating Income | $4.07B |
| Interest Expense | $732.00M |
| Net Income | $2.03B |
| EPS (Basic) | $0.42 |
| EPS (Diluted) | $0.41 |
| Shares Outstanding (Basic) | 4.84B |
| Shares Outstanding (Diluted) | 4.89B |
Key Highlights
- 1Total revenue increased by 2.8% to $19.3 billion for the three months ended June 30, 2016, and by 4.0% to $38.1 billion for the six months ended June 30, 2016.
- 2The Cable Communications segment revenue grew by 6.0% to $12.4 billion for the quarter, driven by strong performance in high-speed internet and business services.
- 3NBCUniversal segments collectively saw revenue growth, boosted by the acquisition of a 51% interest in Universal Studios Japan and strong performance in Cable Networks and Broadcast Television.
- 4Net income attributable to Comcast Corporation decreased by 5.1% to $2.03 billion for the quarter and by 0.8% to $4.16 billion for the half-year.
- 5The company announced an agreement to acquire DreamWorks Animation for approximately $3.8 billion, expected to close in 2016.
- 6Comcast continued its capital return program, repurchasing $2.4 billion of its Class A common stock and paying dividends of $1.28 billion in the first half of the year.
- 7Cash flow from operations remained strong, totaling $9.38 billion for the first six months of 2016, an increase from $8.83 billion in the prior year period.