Summary
Comcast Corporation's third-quarter 2017 filing reveals a mixed financial performance, with consolidated revenue seeing a slight decrease year-over-year, primarily due to the absence of revenue from the 2016 Rio Olympics broadcast. However, excluding this impact, revenue showed a healthy increase, driven by strong performance in the Cable Communications and Theme Parks segments. Net income attributable to Comcast Corporation saw a significant increase, reflecting improved operational efficiencies and strategic gains. Despite the top-line dip, the company demonstrated solid operational execution. The Cable Communications segment continued its growth trajectory, driven by high-speed internet and business services. NBCUniversal's segments showed varied results, with Theme Parks and Filmed Entertainment performing strongly, while Cable Networks and Broadcast Television faced challenges, partly due to the Olympic broadcast comparison. The company also made significant strategic moves, including the acquisition of the remaining interest in Universal Studios Japan and substantial spectrum acquisition. Financially, Comcast managed its debt effectively and continued to return capital to shareholders through dividends and share repurchases.
Financial Highlights
52 data points| Revenue | $21.08B |
| Operating Expenses | $16.30B |
| Operating Income | $4.78B |
| Interest Expense | $766.00M |
| Net Income | $2.64B |
| EPS (Basic) | $0.56 |
| EPS (Diluted) | $0.55 |
| Shares Outstanding (Basic) | 4.70B |
| Shares Outstanding (Diluted) | 4.78B |
Key Highlights
- 1Consolidated revenue decreased by 1.6% to $20.98 billion for the third quarter, largely due to the absence of 2016 Rio Olympics broadcast revenue, but increased by 5.4% to $62.61 billion for the first nine months.
- 2Net income attributable to Comcast Corporation increased by 18.5% to $2.65 billion for the third quarter and by 20.8% to $7.73 billion for the first nine months.
- 3Cable Communications segment revenue grew by 5.1% to $13.20 billion for the quarter, driven by strong performance in High-Speed Internet and Business Services.
- 4NBCUniversal segments revenue decreased by 12.7% to $8.01 billion for the quarter, primarily due to the absence of the Rio Olympics broadcast, though Adjusted EBITDA increased by 6.0%.
- 5The company acquired the remaining interest in Universal Studios Japan for $2.3 billion and acquired $1.7 billion of spectrum rights.
- 6Long-term debt increased to $59.72 billion from $55.57 billion, while cash and cash equivalents increased to $4.11 billion from $3.30 billion.
- 7Comcast repurchased approximately $3.8 billion of its common stock and paid $397 million in dividends during the first nine months of the year.