Comcast Shares Are Trading Higher On Upbeat Q1 Results, 602K Net New Cable Communications And Sky Subs

Comcast Corp CMCSA reported first-quarter FY21 revenue growth of 2.2% year-on-year to $27.2 billion, beating the analyst consensus of $26.7 billion.
Cable Communications revenue grew 5.9% to $15.8 billion primarily due to growth in the Broadband, wireless, and business services segment. Adjusted EBITDA margin for the segment expanded 250 basis points to 43.2%.
NBCUniversal revenue declined 9.1% to $7 billion primarily from falling studios and theme parks revenue.
Revenue for Sky rose 10.6% to $5 billion, reflecting higher direct-to-consumer revenue, advertising revenue, and content revenue. Adjusted EBITDA margin for the segment contracted 490 basis points to 7.3%.
Total Customer Relationships across Cable Communications and Sky rose 3.3% to 56.9 million, Including quarterly net additions of 602,000.
Adjusted EBITDA rose 3.5% to $8.4 billion.
Adjusted net income rose 8.1% to $3.5 billion. Adjusted EPS was $0.76, beating the consensus estimate of $0.58.
The company generated $7.8 billion in operating cash flow. It held $14.95 billion in cash and equivalents.
The company paid $1.1 billion in Q1 dividends.
Price action: CMCSA shares traded higher by 3.75% at $56.13 on the last check Thursday.

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