Summary
Comcast Corporation's second quarter 2022 results show a consolidated revenue increase of 5.1% year-over-year, reaching $30.0 billion. This growth was primarily driven by strong performance in the Studios, Theme Parks, and Cable Communications segments. Adjusted EBITDA also saw a healthy increase of 10.1% to $9.8 billion, indicating improved operational efficiency and profitability across the company. Despite overall revenue growth, net income attributable to Comcast Corporation declined by 9.2% to $3.4 billion, impacted by a significant unfavorable shift in investment and other income (loss) compared to the prior year. While Cable Communications continues to be a stable performer with growing broadband revenue, NBCUniversal is experiencing a rebound in its Media, Studios, and Theme Parks segments, particularly benefiting from the reopening of theme parks and strong theatrical releases. Sky, however, faced revenue declines, primarily due to foreign currency impacts and a challenging market in Italy, although its Adjusted EBITDA showed a significant increase on a constant currency basis. The company continues to prioritize returning capital to shareholders, repurchasing $3.0 billion in common stock during the quarter and increasing its dividend. Despite ongoing investments in growth areas like Peacock and streaming platforms, Comcast demonstrates a robust financial position supported by strong cash flow generation and ample liquidity.
Financial Highlights
51 data points| Revenue | $30.02B |
| Operating Expenses | $23.65B |
| Operating Income | $6.37B |
| Interest Expense | $968.00M |
| Net Income | $3.40B |
| EPS (Basic) | $0.76 |
| EPS (Diluted) | $0.76 |
| Shares Outstanding (Basic) | 4.46B |
| Shares Outstanding (Diluted) | 4.48B |
Key Highlights
- 1Consolidated revenue grew by 5.1% to $30.0 billion for the quarter, driven by gains in Cable Communications, NBCUniversal (Studios and Theme Parks), partially offset by Sky.
- 2Adjusted EBITDA increased by 10.1% to $9.8 billion, demonstrating strong operational performance.
- 3Net income attributable to Comcast Corporation decreased by 9.2% to $3.4 billion, largely due to a significant swing in investment and other income/(loss) compared to the prior year.
- 4Cable Communications segment revenue increased by 3.7% to $16.6 billion, with broadband revenue up 6.8%, showcasing continued strength in its core business.
- 5NBCUniversal's revenue surged by 18.7% to $9.4 billion, with Theme Parks revenue growing an impressive 64.8% and Studios revenue up 33.3%, reflecting a strong recovery and performance in these segments.
- 6Sky segment revenue declined by 13.8% (3.5% in constant currency) to $4.5 billion, impacted by market conditions in Italy and foreign currency fluctuations, though Adjusted EBITDA on a constant currency basis rose significantly.
- 7The company actively returned capital to shareholders, repurchasing $3.0 billion of common stock and increasing its dividend by 8% on an annualized basis.