Comcast Q3 Growth Aided By Customer Addons, NBCUniversal

Loading...
Loading...
  • Comcast Corp CMCSA reported third-quarter FY21 revenue growth of 18.7% year-on-year to $30.3 billion, beating the consensus of $29.87 billion.
  • Segments: Revenue for Cable Communications rose 7.4% Y/Y to $16.12 billion, driven by increases in broadband, advertising, wireless, business services, video, and other revenue, partially offset by a decrease in voice revenue. 
  • Customer Relationships increased by 255,000 to 34 million. Broadband customer net additions were 300,000. It added 285,000 wireless lines.
  • Revenue for NBCUniversal increased 57.9% Y/Y to $10 billion, Media increased 47.5% Y/Y to $6.8 billion, reflecting higher advertising revenue, Studios increased 26.8% Y/Y to $2.4 billion, primarily reflecting higher theatrical revenue.
  • Theme Parks' revenue increased from $1.1 billion to $1.4 billion, reflecting improved operating conditions.
  • Revenue for Sky increased 4.1% Y/Y to $4.988 billion. Total Customer Relationships decreased by 233,000 to 23 million.
  • The EPS of $0.87 beat the consensus of $0.75.
  • Margin: Adjusted EBITDA margin of Cable Communications expanded 120 bps to 43.9%. Sky's adjusted EBITDA margin expanded 880 bps to 19.5%.
  • Comcast generated $6.1 billion in operating cash flow and held $11.8 billion in cash and equivalents.
  • Comcast paid dividends totaling $1.2 billion and repurchased shares worth 25.9 million.
  • Cable Communications' capital expenditures decreased 5.4% to $1.7 billion, NBCUniversal's capital expenditures decreased 35.7% to $229 million, and Sky's capital expenditures decreased 32.3% to $160 million.
  • Price action: CMCSA shares traded lower by 0.38% at $52.24 on the last check Thursday.
Loading...
Loading...
Date
ticker
name
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsTechBriefs
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...