01—Abstract
Summary
Summary of the 8-K filed May 1, 2013. Cited figures are marked; the original filing is the authoritative source.
Comcast Corporation filed an 8-K on May 1, 2013, primarily to report its financial results for the first quarter ended March 31, 2013.
The filing includes a press release detailing these operational results and financial condition. Investors should note that Comcast's management believes that the presentation of non-GAAP financial measures within the press release offers valuable insights into the company's performance, and the filing provides explanations for their use and reconciliations to GAAP measures. The core of this filing is the disclosure of Comcast's Q1 2013 performance.
While the 8-K itself does not contain the detailed financial figures, it directs investors to the attached press release (Exhibit 99.1) for comprehensive data. The company also provides context on its use of non-GAAP metrics to supplement the standard financial reporting, which is a common practice to highlight specific operational aspects or trends that management deems important for investor understanding.
02—Key points
Key Highlights
- Comcast Corporation announced its first quarter 2013 financial results on May 1, 2013, via an 8-K filing.
- The filing's primary purpose is to furnish a press release detailing the company's operational and financial performance for the three months ended March 31, 2013.
- Comcast explicitly states that the information provided is not intended to be 'filed' under the Securities Exchange Act, meaning it's for informational purposes without automatic incorporation into other filings.
- The company provided an explanation (Exhibit 99.2) for its use of non-GAAP financial measures, asserting their utility for investors.
- Reconciliations between non-GAAP financial measures and their most directly comparable GAAP measures are included within the press release itself (Exhibit 99.1).
- The filing references Lawrence J. Salva, Senior Vice President, Chief Accounting Officer and Controller, as the signatory, indicating routine financial reporting procedures.
03—Questions
Frequently Asked Questions
What is the main purpose of this Comcast 8-K filing?
The main purpose of this 8-K filing is to publicly disclose Comcast Corporation's financial results and operational performance for the first quarter ended March 31, 2013, through an accompanying press release.
Where can I find the detailed financial results for Q1 2013?
The detailed financial results for Q1 2013 are provided in the press release attached to this 8-K filing as Exhibit 99.1. The 8-K itself mainly serves as a cover to submit this press release to the SEC.
Does Comcast use non-GAAP financial measures, and why?
Yes, Comcast uses non-GAAP financial measures. The company believes these measures provide useful information to investors by offering additional insights into Comcast's financial condition and results of operations, beyond what is presented in GAAP measures. An explanation and reconciliation to GAAP are provided.
Is the information in this 8-K automatically incorporated into other Comcast SEC filings?
No, Comcast explicitly states that this Item 2.02 disclosure and its exhibits are not intended to be 'filed' under the Securities Exchange Act of 1934, meaning they are furnished for informational purposes and will not be automatically incorporated by reference into other Comcast filings, such as those under the Securities Act of 1933.
04—Continue