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Winmark Corporation Announces Increase in Cash Dividend

MINNEAPOLIS–(BUSINESS WIRE)–
Winmark Corporation (Nasdaq: WINA) announced today that its Board of Directors has approved an increase in its regular quarterly cash dividend to shareholders. The quarterly dividend of $0.96 per share represents an increase of $0.06 from its previous dividend rate. The cash dividend will be paid June 2, 2025 to shareholders of record on the close of business on May 14, 2025. Future dividends will be subject to Board approval.

Winmark – the Resale Company®, is a nationally recognized franchising business focused on sustainability and small business formation. We champion and guide entrepreneurs interested in operating one of our award winning resale franchises: Plato’s Closet®, Once Upon A Child®, Play It Again Sports®, Style Encore® and Music Go Round®. At March 29, 2025, there were 1,363 franchises in operation and over 2,800 available territories. An additional 79 franchises have been awarded but are not open.

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Anthony D. Ishaug

763/520-8500

KEYWORDS: United States North America Minnesota

INDUSTRY KEYWORDS: Fashion Professional Services Retail Small Business Other Retail Other Professional Services

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Winmark Corporation Announces First Quarter Results

MINNEAPOLIS–(BUSINESS WIRE)–
Winmark Corporation (Nasdaq: WINA) announced today net income for the quarter ended March 29, 2025 of $9,956,400 or $2.71 per share diluted compared to net income of $8,819,000 or $2.41 per share diluted in 2024. First quarter results included $2.2 million of leasing income due to the settlement of outstanding customer litigation.

“The run-off of our leasing portfolio announced in May of 2021 is substantially complete,” commented Brett D. Heffes, Chair and Chief Executive Officer.

Winmark – the Resale Company®, is a nationally recognized franchisor focused on sustainability and small business formation. We champion and guide entrepreneurs interested in operating one of our award winning resale franchises: Plato’s Closet®, Once Upon A Child®, Play It Again Sports®, Style Encore® and Music Go Round®. At March 29, 2025, there were 1,363 franchises in operation and over 2,800 available territories. An additional 79 franchises have been awarded but are not open.

This press release contains forward-looking statements within the meaning of the safe harbor provisions of Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), relating to future events or the future financial performance of the Company. Such forward-looking statements are only predictions or statements of intention subject to risks and uncertainties and actual events or results could differ materially from those anticipated. Because actual result may differ, shareholders and prospective investors are cautioned not to place undue reliance on such forward-looking statements.

WINMARK CORPORATION
CONDENSED BALANCE SHEETS
(Unaudited)
		March 29, 2025				December 28, 2024
ASSETS
Current Assets:
Cash and cash equivalents		$	21,828,800			$	12,189,800
Restricted cash			140,000				140,000
Receivables, net			2,586,400				1,336,400
Income tax receivable			—				96,400
Inventories			338,200				397,600
Prepaid expenses			881,600				1,205,400
Total current assets			25,775,000				15,365,600
Property and equipment, net			1,373,400				1,419,400
Operating lease right of use asset			2,026,600				2,108,700
Intangible assets, net			2,551,800				2,640,300
Goodwill			607,500				607,500
Other assets			516,400				491,200
Deferred income taxes			4,211,800				4,211,800
		$	37,062,500			$	26,844,500
LIABILITIES AND SHAREHOLDERS’ EQUITY (DEFICIT)
Current Liabilities:
Accounts payable		$	1,544,100			$	1,562,000
Income tax payable			2,883,600				—
Accrued liabilities			3,597,900				1,866,200
Deferred revenue			1,666,800				1,659,700
Total current liabilities			9,692,400				5,087,900
Long-Term Liabilities:
Line of credit/Term loan			30,000,000				30,000,000
Notes payable, net			29,947,400				29,942,800
Deferred revenue			8,249,800				8,027,600
Operating lease liabilities			2,929,500				3,092,800
Other liabilities			2,184,700				1,739,500
Total long-term liabilities			73,311,400				72,802,700
Shareholders’ Equity (Deficit):
Common stock, no par, 10,000,000 shares authorized, 3,532,571 and 3,539,744 shares issued and outstanding			13,124,900				14,790,500
Retained earnings (accumulated deficit)			(59,066,200	)			(65,836,600	)
Total shareholders’ equity (deficit)			(45,941,300	)			(51,046,100	)
		$	37,062,500			$	26,844,500

WINMARK CORPORATION
CONDENSED STATEMENTS OF OPERATIONS
(Unaudited)
		Three Months Ended
		March 29, 2025				March 30, 2024
Revenue:
Royalties		$	17,774,700			$	17,268,700
Leasing income			2,307,800				836,800
Merchandise sales			941,300				1,110,500
Franchise fees			332,100				364,500
Other			563,800				529,000
Total revenue			21,919,700				20,109,500
Cost of merchandise sold			888,300				1,038,900
Leasing expense			—				36,600
Provision for credit losses			—				(1,500	)
Selling, general and administrative expenses			7,434,800				6,817,300
Income from operations			13,596,600				12,218,200
Interest expense			(613,900	)			(737,700	)
Interest and other income			149,900				187,900
Income before income taxes			13,132,600				11,668,400
Provision for income taxes			(3,176,200	)			(2,849,400	)
Net income		$	9,956,400			$	8,819,000
Earnings per share – basic		$	2.81			$	2.52
Earnings per share – diluted		$	2.71			$	2.41
Weighted average shares outstanding – basic			3,538,647				3,497,261
Weighted average shares outstanding – diluted			3,672,943				3,661,367

WINMARK CORPORATION
CONDENSED STATEMENTS OF CASH FLOWS
(Unaudited)
		Three Months Ended
		March 29, 2025				March 30, 2024
OPERATING ACTIVITIES:
Net income		$	9,956,400			$	8,819,000
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation of property and equipment			97,200				108,300
Amortization of intangible assets			88,500				88,500
Provision for credit losses			—				(1,500	)
Compensation expense related to stock options			536,600				485,900
Operating lease right of use asset amortization			82,200				74,200
Change in operating assets and liabilities:
Receivables			(1,250,000	)			(213,300	)
Principal collections on lease receivables			—				62,300
Income tax receivable/payable			2,980,000				2,500,400
Inventories			59,400				(34,800	)
Prepaid expenses			323,700				126,500
Other assets			(25,200	)			(16,600	)
Accounts payable			(18,000	)			(423,100	)
Accrued and other liabilities			2,018,300				1,729,800
Rents received in advance and security deposits			—				(19,700	)
Deferred revenue			229,300				78,100
Net cash provided by operating activities			15,078,400				13,364,000
INVESTING ACTIVITIES:
Purchase of property and equipment			(51,200	)			(87,900	)
Net cash used for investing activities			(51,200	)			(87,900	)
FINANCING ACTIVITIES:
Payments on notes payable			—				(1,062,500	)
Repurchases of common stock			(2,249,900	)			—
Proceeds from exercises of stock options			47,700				70,000
Dividends paid			(3,186,000	)			(2,797,900	)
Net cash used for financing activities			(5,388,200	)			(3,790,400	)
NET INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH			9,639,000				9,485,700
Cash, cash equivalents and restricted cash, beginning of period			12,329,800				13,386,500
Cash, cash equivalents and restricted cash, end of period		$	21,968,800			$	22,872,200
SUPPLEMENTAL DISCLOSURES:
Cash paid for interest		$	604,000			$	725,700
Cash paid for income taxes		$	196,200			$	349,100
The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the Condensed Balance Sheets to the total of the same amounts shown above:
		Year Ended
		December 28, 2024				December 30, 2023
Cash and cash equivalents		$	21,828,800			$	22,872,200
Restricted cash			140,000				—
Total cash, cash equivalents and restricted cash		$	21,968,800			$	22,872,200

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20250416289040/en/

Anthony D. Ishaug

763/520-8500

KEYWORDS: United States North America Minnesota

INDUSTRY KEYWORDS: Department Stores Sports General Sports Baby/Maternity Specialty Professional Services Small Business Fashion Consumer Retail

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Wipro Announces Results for the Quarter and Year Ended March 31, 2025

Net income grew 6.4% QoQ in Q4’25 and grew 18.9% YoY for FY’25

FY’25 margin at 17.1%, expands 0.9%, Q4 margin at 17.5%, expands 1.1% YoY

Large deal booking grew 48.5% YoY in Q4’25 and grew 17.5% YoY for FY’25

Operating cash flow at 104.4% of net income for Q4’25 and 128.2% for FY’25

EAST BRUNSWICK, N.J. & BANGALORE, India–(BUSINESS WIRE)–
Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading technology services and consulting company, announced financial results under International Financial Reporting Standards (IFRS) for the quarter and year ended March 31, 2025.

Highlights of the Results

Results for the Quarter ended March 31, 2025:

1. Gross revenue at Rs 225.0 billion ($2,634.2 million¹), an increase of 0.8% QoQ and 1.3% YoY.
2. IT services segment revenue was at $2,596.5 million, decrease of 1.2% QoQ and 2.3% YoY.
3. Non-GAAP² constant currency IT Services segment revenue decreased 0.8% QoQ and 1.2% YoY.
4. Total bookings³ was at $3,955 million, up by 13.4% QoQ in constant currency². Large deal bookings⁴ was at $1,763 million, an increase of 48.5% YoY in constant currency².
5. IT services operating margin⁵ for Q4’25 was at 17.5%, flat QoQ and expansion of 1.1% YoY.
6. Net income for the quarter was at Rs 35.7 billion ($417.8 million¹), an increase of 6.4% QoQ and 25.9% YoY.
7. Earnings per share for the quarter at Rs 3.4 ($0.04¹), an increase of 6.2% QoQ and 25.8% YoY.
8. Operating cash flows of Rs 37.5 billion ($438.5 million¹), decrease of 28.2% YoY and at 104.4% of Net Income for the quarter.
9. Voluntary attrition was at 15.0% on a trailing 12-month basis.

Results for the Year ended March 31, 2025:

1. Gross revenue reached Rs 890.9 billion ($10.4 billion¹), a decrease of 0.7% YoY.
2. IT services segment revenue was at $10,511.5 million, a decrease of 2.7% YoY.
3. Non-GAAP² constant currency IT Services segment revenue decreased 2.3% YoY.
4. Large deal bookings⁴ was at $5.4 billion, up by 17.5% YoY. Total bookings³ was at $14.3 billion, decrease of 3.8% YoY.
5. IT services operating margin⁵ for the year was at 17.1%, up by 0.9% YoY.
6. Net income for the year was at Rs 131.4 billion ($1,537.0 million¹), an increase of 18.9% YoY.
7. Earnings per share for the year was at Rs 12.6 ($0.15¹), an increase of 20.3% YoY.
8. Operating cash flows of 169.4 billion ($1,983.0 million¹), decrease of 3.9% YoY and at 128.2% of Net Income for the year.

Outlook for the Quarter ending June 30, 2025

We expect revenue from our IT Services business segment to be in the range of $2,505 million to $2,557 million*. This translates to sequential guidance of (-)3.5% to (-)1.5% in constant currency terms.

*Outlook for the Quarter ending June 30, 2025, is based on the following exchange rates: GBP/USD at 1.26, Euro/USD at 1.05, AUD/USD at 0.63, USD/INR at 86.60 and CAD/USD at 0.70

Performance for the Quarter and Year ended March 31, 2025

Srini Pallia, CEO and Managing Director, said, “We closed FY25 with two mega deal wins, an increase in large deal bookings, and growth in our top accounts. Client satisfaction scores improved, reflecting strong execution and engagement. We also continued to invest in our global talent and in strengthening our consulting and AI capabilities. As clients remain cautious in the face of macroeconomic uncertainty, we’re focused on partnering closely with them while staying committed to consistent and profitable growth.”

Aparna Iyer, Chief Financial Officer, said, “For Q4 operating margins expanded 110 basis points year on year and for the full financial year margin expanded by 90 basis points. Our focus on execution rigour has ensured that our margins have steadily expanded even in a softening revenue environment. Our endeavor will be to maintain the margin in a narrow band in the coming quarters. Our net income grew 6.4% sequentially in Q4 and 18.9% for the full financial year. Cash flow continued to be robust in Q4 resulting in net operating cash flow generation of almost $ 2 Bn for FY’25, which is 128.2% of our net income.”

Capital Allocation:

The interim dividend of Rs 6 declared by the Board at its meeting held on January 17^th, 2025, shall be considered as final dividend for the financial year 2024-25.

1. For the convenience of the readers, the amounts in Indian Rupees in this release have been translated into United States Dollars at the certified foreign exchange rate of US$1 = Rs 85.43, as published by the Federal Reserve Board of Governors on March 31, 2025. However, the realized exchange rate in our IT Services business segment for the quarter ended March 31, 2025, was US$1= Rs 86.44
2. Constant currency for a period is the product of volumes in that period times the average actual exchange rate of the corresponding comparative period.
3. Total Bookings refers to the total contract value of all orders that were booked during the period including new orders, renewals, and increases to existing contracts. Bookings do not reflect subsequent terminations or reductions related to bookings originally recorded in prior fiscal periods. Bookings are recorded using then-existing foreign currency exchange rates and are not subsequently adjusted for foreign currency exchange rate fluctuations. The revenues from these contracts accrue over the tenure of the contract. For constant currency growth rates, refer note 2.
4. Large deal bookings consist of deals greater than or equal to $30 million in total contract value.
5. IT Services Operating Margin refers to Segment Results Total as reflected in IFRS financials.

Highlights of Strategic Deal Wins

In the fourth quarter, Wipro continued to win large and strategic deals across industries. Key highlights include:

1. Phoenix Group, the UK’s largest long-term savings and retirement business, has selected Wipro to deliver life and pension business administration for their ReAssure business and accelerate the Group’s operational transformation. Under the terms of the 10-year deal, Wipro’s FCA-regulated entity, Wipro Financial Services Outsourcing Limited (WFOSL), will deliver comprehensive life and pension administration services that will encompass Policy Administration, Claims Processing, Customer Service Support, Data Management and Reporting, and Compliance and Regulatory Support. As part of the engagement, Wipro will also assume management of the client’s core policy administration ALPHA platform, modernizing it with AI, Automation, Cloud, and digital transformation technologies. This engagement aligns with our strategic big bet of setting up an Insurance Third Party Administration (TPA) business that will open doors for us to target large, multi-year platform, deals encompassing operations and technology.
2. A prominent North America-based financial institution has selected Wipro to enhance its technology infrastructure, delivery and operations. The Wipro team will consolidate the client’s existing technology vendors, thereby providing improved visibility into their technological delivery. Wipro will implement a global delivery model across the client’s entire business to streamline processes, optimize resource allocation, and significantly boost efficiency. This comprehensive approach will enable the client to achieve substantial cost savings, heightened productivity, and superior service delivery.
3. A manufacturer of premium household appliances headquartered in Europe has selected Wipro to manage and transform its IT landscape. The Wipro team will future-proof the client’s IT infrastructure by harnessing its AI-driven Smart-Operations Solution that includes conversational virtual service desk AI agents providing seamless support in multiple languages. Wipro will consolidate all business applications, infrastructure, and cyber security tracks onto a unified monitoring platform to provide better visibility into the client’s technology ecosystem. From this project, the client can expect to see enhanced operational efficiency and robust cyber-risk management.
4. One of the largest health insurers in the U.S has extended its engagement with Wipro to automate and streamline its financial and membership reconciliation. Wipro will deploy its industry leading Medicare platform, “Payer-in-a-box”, to support the client’s growing business. The SaaS based solution will provide the client with increased flexibility to handle membership growth, optimized financial control, and assured compliance with Centre for Medicare & Medicaid Services regulations. Additionally, the solution will also ensure data security, platform stability, and seamless business continuity for the client.
5. A Fortune 100 global healthcare payer, experiencing significant business growth, has entrusted Wipro to manage its increased operational demands. Wipro will leverage its deep expertise and AI tools to scale the client’s Medicare, Medicaid, and ACA operations. This will enable the client to focus on their core strategic priorities, optimize operational costs, and significantly improve efficiency in member services. Wipro will support the client in improving user experience and driving exceptional business outcomes.
6. A US-based payment card services company has expanded its relationship with Wipro to modernize and maintain its business applications portfolio. The Wipro team will undertake a transformation and optimization program across the client’s payment ecosystem. From this project, the client will see significantly improved transaction security for their end-customers, as well as enhanced scalability and cost efficiency.
7. A leading American multinational energy corporation has extended their relationship with Wipro to provide Application Management Services across their entire Oil & Gas value chain. Leveraging Wipro’s AI-powered NextGen AMS solution, the team will modernize and manage an expanded scope of business applications that power critical functions across the client’s end-to-end business value chain. Through this engagement, the client will see a significant increase in AI-enabled operational efficiency, improved resilience in automation, enhanced service levels, as well as stronger alignment with their competitive performance goals.
8. A North American parcel delivery company has extended its relationship with Wipro to provide private Cloud solutions, which comprise Cloud Server, Storage, Network, Security, and Scheduling services. Leveraging AI-Ops tools, the Wipro team will help the client achieve improved ticket resolution and reduction in planned outages. Further, the client will realize enhanced business agility and scalability, as well as cost predictability, data sovereignty, and resiliency.
9. A Europe-based international food wholesaler has extended its partnership with Wipro to provide comprehensive business application management, cloud, and IT support services. In the initial phase of the partnership, Wipro assisted the customer in accelerating their cloud strategy by migrating 80% of their on-premises infrastructure to the cloud and contributing to the modernization of their store infrastructure.
   
   The second phase will focus on enhancing cloud security through modernization and optimization of the client’s cloud environment. The Wipro team will also continue to manage and modernize the client’s business applications, utilizing GenAI-powered solutions to swiftly detect and resolve incidents, ensuring uninterrupted operations.
   
   Additionally, Wipro will leverage data-driven business insights to improve strategic decision-making, leading to enhanced operational efficiency and greater visibility into the client’s business segments.
10. A large Australian engineering and construction company has strengthened its strategic, long-standing partnership with Wipro by expanding into a Managed Services contract. Wipro will leverage automation and AI ops to improve user experience, deliver faster and higher quality issue resolution, as well as to optimize IT costs, and streamline operations. Wipro will also transform the client’s IT service delivery across multiple business units to create a modern, secure, and sustainable environment.
11. A multinational engineering corporation has selected Wipro to implement AI-powered comprehensive managed infosec services solution to enhance their network, endpoint, cloud, and identity security. Integrating AI solutions from the WeGA studio, Wipro will automate processes, efficiently resolve alerts, and provide contextual resolutions for the client. Wipro will enhance agent productivity by 15-20%, resulting in significant efficiency gains and improved overall performance.
12. Wipro has partnered with a US-based utility company to set up a GenAI Center of Excellence to spearhead AI innovation. Through the CoE, Wipro will create a comprehensive GenAI strategy for the client’s AI and data lifecycle. Wipro is developing an end-to-end resource planning platform for logistics, power management, and asset health monitoring, to streamline operations. The AI & data CoE will facilitate better risk governance, accelerated adoption and measurable ROI. The client will also see enhanced decision-making, regulatory alignment, as well as reusable and faster deployment of AI models.

Analyst Recognition

1. Wipro was positioned as a Horizon 3 – Market Leader in the HFS Horizons: Generative Enterprise Services, 2025 report
2. Wipro was ranked as a Leader in Avasant’s Life Sciences Digital Services 2025 RadarView™
3. Wipro was positioned as a Leader in Everest Group’s Managed Detection and Response (MDR) Services PEAK Matrix® Assessment 2025
4. Wipro was positioned as a Leader in ISG Provider Lens™ – Power & Utilities Industry Services and Solutions 2024 – North America & Europe (multiple quadrants)
5. Wipro was rated as a Leader in ISG Provider Lens™ – Oil and Gas Industry Services and Solutions 2024 – North America (all quadrants)
6. Wipro was recognized as a Leader in ISG Provider Lens™ – Telecom, Media and Entertainment Industry Services 2024 – North America (multiple quadrants)
7. Wipro was featured as a Leader in ISG Provider Lens™ – Advanced Analytics and AI Services 2024 – US (all quadrants)
8. Wipro was recognized as a Leader in ISG Provider Lens™ – Healthcare Digital Services 2024 – US (all quadrants)
9. Wipro was recognized as a Leader and Star Performer in Everest Group’s SAP Business Application Services PEAK Matrix® Assessment 2025
10. Wipro was positioned as a Leader in ISG Provider Lens™ – Oracle Cloud and Technology Ecosystem 2024 – US & Europe (all quadrants)
11. Wipro was rated as a Leader in ISG Provider Lens™ – Sustainability and ESG 2024 – US & Europe (all quadrants)
12. Wipro was positioned as a Leader in the 2025 Gartner® Magic Quadrant™ for Outsourced Digital Workplace Services
13. Wipro was recognized as a Leader in Everest Group’s Application Management Services PEAK Matrix® Assessment 2025

Source & Disclaimer: *Gartner, “Magic Quadrant for Outsourced Digital Workplace Services”, Karl Rosander, et al, 24 March 2025.

GARTNER is a registered trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally, and MAGIC QUADRANT is a registered trademark of Gartner, Inc. and/or its affiliates and are used herein with permission. All rights reserved.

Gartner does not endorse any vendor, product, or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner’s research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

The Gartner content described herein (the “Gartner Content”) represents research opinion or viewpoints published, as part of a syndicated subscription service, by Gartner, Inc. (“Gartner”), and is not a representation of fact. Gartner Content speaks as of its original publication date (and not as of the date of this press release, and the opinions expressed in the Gartner Content are subject to change without notice.

IT Products

1. IT Products segment revenue for the quarter was Rs 0.8 billion ($9.5 million¹)
2. IT Products segment results for the quarter were Rs 0.03 billion ($0.3million¹)
3. IT Products segment revenue for the year was Rs 2.7 billion ($31.5 million¹)
4. IT Products segment results for the year were (Rs (-)0.2 billion) ($(-)2.0 million¹)

Please refer to the table at the end for reconciliation between IFRS IT Services Revenue and IT Services Revenue on a non-GAAP constant currency basis.

About Key Metrics and Non-GAAP Financial Measures

This press release contains key metrics and non-GAAP financial measures within the meaning of Regulation G and Item 10(e) of Regulation S-K. Such non-GAAP financial measures are measures of our historical or future performance, financial position or cash flows that are adjusted to exclude or include amounts that are excluded or included, as the case may be, from the most directly comparable financial measure calculated and presented in accordance with IFRS.

The table at the end provides IT Services Revenue on a constant currency basis, which is a non-GAAP financial measure that is calculated by translating IT Services Revenue from the current reporting period into U.S. dollars based on the currency conversion rate in effect for the prior reporting period. We refer to growth rates in constant currency so that business results may be viewed without the impact of fluctuations in foreign currency exchange rates, thereby facilitating period-to-period comparisons of our business performance. Further, in the normal course of business, we may divest a portion of our business which may not be strategic. We refer to the growth rates in both reported and constant currency adjusting for such divestments in order to represent the comparable growth rates.

Our key metrics and non-GAAP financial measures are not based on any comprehensive set of accounting rules or principles and should not be considered a substitute for, or superior to, the most directly comparable financial measure calculated in accordance with IFRS and may be different from non-GAAP measures used by other companies. Our key metrics and non-GAAP financial measures are not comparable to, nor should be substituted for, an analysis of our revenue over time and involve estimates and judgments. In addition to our non-GAAP measures, the financial statements prepared in accordance with IFRS and the reconciliation of these non-GAAP financial measures with the most directly comparable IFRS financial measure should be carefully evaluated.

Results for the Quarter and Year ended March 31, 2025, prepared under IFRS, along with individual business segment reports, are available in the Investors section of our website www.wipro.com/investors/

Quarterly Conference Call

We will hold an earnings conference call today at 07:00 p.m. Indian Standard Time (8:30 a.m. U.S. Eastern Time) to discuss our performance for the quarter. The audio from the conference call will be available online through a webcast and can be accessed at the following link- https://links.ccwebcast.com/?EventId=WIP160425

An audio recording of the management discussions and the question-and-answer session will be available online and will be accessible in the Investor Relations section of our website at www.wipro.com

About Wipro Limited

Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO) is a leading technology services and consulting company focused on building innovative solutions that address clients’ most complex digital transformation needs. Leveraging our holistic portfolio of capabilities in consulting, design, engineering, and operations, we help clients realize their boldest ambitions and build future-ready, sustainable businesses. With over 230,000 employees and business partners across 65 countries, we deliver on the promise of helping our clients, colleagues, and communities thrive in an ever-changing world. For additional information, visit us at www.wipro.com

Forward-Looking Statements

The forward-looking statements contained herein represent Wipro’s beliefs regarding future events, many of which are by their nature, inherently uncertain and outside Wipro’s control. Such statements include, but are not limited to, statements regarding Wipro’s growth prospects, its future financial operating results, the benefits its customers experience and its plans, expectations and intentions. Wipro cautions readers that the forward-looking statements contained herein are subject to risks and uncertainties that could cause actual results to differ materially from the results anticipated by such statements. Such risks and uncertainties include, but are not limited to, risks and uncertainties regarding fluctuations in our earnings, revenue and profits, our ability to generate and manage growth, complete proposed corporate actions, intense competition in IT services, our ability to maintain our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which we make strategic investments, withdrawal of fiscal governmental incentives, political instability, war, legal restrictions on raising capital or acquiring companies outside India, unauthorized use of our intellectual property and general economic conditions affecting our business and industry.

Additional risks that could affect our future operating results are more fully described in our filings with the United States Securities and Exchange Commission, including, but not limited to, Annual Reports on Form 20-F. These filings are available at www.sec.gov. We may, from time to time, make additional written and oral forward-looking statements, including statements contained in the company’s filings with the Securities and Exchange Commission and our reports to shareholders. We do not undertake to update any forward-looking statement that may be made from time to time by us or on our behalf.

WIPRO LIMITED AND SUBSIDIARIES
INTERIM CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION
(Rs in millions, except share and per share data, unless otherwise stated)
			As at March 31, 2024		As at March 31, 2025
							Convenience translation into US dollar in millions (unaudited)
ASSETS
Goodwill			316,002		325,014		3,804
Intangible assets			32,748		27,450		321
Property, plant and equipment			81,608		80,684		944
Right-of-Use assets			17,955		25,598		300
Financial assets
Derivative assets			25		^		^
Investments			21,629		26,458		310
Trade receivables			4,045		299		3
Other financial assets			5,550		4,664		54
Investments accounted for using the equity method			1,044		1,327		16
Deferred tax assets			1,817		2,561		30
Non-current tax assets			9,043		7,230		85
Other non-current assets			10,331		7,460		87
Total non-current assets			501,797		508,745		5,954
Inventories			907		694		8
Financial assets
Derivative assets			1,333		1,820		21
Investments			311,171		411,474		4,817
Cash and cash equivalents			96,953		121,974		1,428
Trade receivables			115,477		117,745		1,378
Unbilled receivables			58,345		64,280		753
Other financial assets			10,536		8,448		99
Contract assets			19,854		15,795		185
Current tax assets		6,484			6,417		75
Other current assets			29,602		29,128		341
Total current assets			650,662		777,775		9,105
TOTAL ASSETS			1,152,459		1,286,520		15,059
EQUITY
Share capital			10,450		20,944		245
Share premium			3,291		2,628		31
Retained earnings			630,936		716,477		8,387
Share-based payment reserve			6,384		6,985		82
Special Economic Zone re-investment reserve			42,129		27,778		325
Other components of equity			56,693		53,497		626
Equity attributable to the equity holders of the Company			749,883		828,309		9,696
Non-controlling interests			1,340		2,138		25
TOTAL EQUITY			751,223		830,447		9,721
LIABILITIES
Financial liabilities
Loans and borrowings			62,300		63,954		749
Lease liabilities			13,962		22,193		260
Derivative liabilities			4		–		–
Other financial liabilities			4,985		7,793		91
Deferred tax liabilities			17,467		16,443		192
Non-current tax liabilities			37,090		42,024		492
Other non-current liabilities			12,970		17,119		200
Provisions			–		294		3
Total non-current liabilities			148,778		169,820		1,987
Financial liabilities
Loans, borrowings and bank overdrafts			79,166		97,863		1,146
Lease liabilities			9,221		8,025		94
Derivative liabilities			558		968		11
Trade payables and accrued expenses			88,566		88,252		1,033
Other financial liabilities			2,272		3,878		45
Contract liabilities			17,653		20,063		235
Current tax liabilities			21,756		34,481		404
Other current liabilities			31,295		31,086		364
Provisions			1,971		1,637		19
Total current liabilities			252,458		286,253		3,351
TOTAL LIABILITIES			401,236		456,073		5,338
TOTAL EQUITY AND LIABILITIES			1,152,459		1,286,520		15,059
^ Value is less than 0.5

WIPRO LIMITED AND SUBSIDIARIES
INTERIM CONDENSED CONSOLIDATED STATEMENT OF INCOME
(Rs in millions, except share and per share data, unless otherwise stated)
			Three months ended March 31,												Year ended March 31,
			2024			2025					2025				2024				2025				2025
											Convenience translation into US dollar in millions (unaudited)												Convenience translation into US dollar in millions (unaudited)
Revenues			222,083			225,042					2,634				897,603				890,884				10,428
Cost of revenues			(157,219)			(155,525)					(1,820)				(631,497)				(617,802)				(7,231)
Gross profit			64,864			69,517					814				266,106				273,082				3,197
Selling and marketing expenses			(15,443)			(15,065)					(176)				(69,972)				(64,378)				(753)
General and administrative expenses			(13,920)			(15,589)					(183)				(60,375)				(57,465)				(673)
Foreign exchange gains/(losses), net			(128)			224					3				340				32				^
Results from operating activities			35,373			39,087					458				136,099				151,271				1,771
Finance expenses			(3,308)			(3,767)					(44)				(12,552)				(14,770)				(173)
Finance and other income			6,759			11,819					138				23,896				38,202				447
Share of net profit/ (loss) of associate and joint venture accounted for using the equity method			(202)			291					3				(233)				254				3
Profit before tax			38,622			47,430					555				147,210				174,957				2,048
Income tax expense			(10,040)			(11,549)					(135)				(36,089)				(42,777)				(501)
Profit for the period			28,582			35,881					420				111,121				132,180				1,547
Profit attributable to:
Equity holders of the Company			28,346			35,696					418				110,452				131,354				1,537
Non-controlling interests			236			185					2				669				826				10
Profit for the period			28,582			35,881					420				111,121				132,180				1,547
Earnings per equity share:
Attributable to equity holders of the Company
Basic			2.71			3.41					0.04				10.44				12.56				0.15
Diluted			2.70			3.39					0.04				10.41				12.52				0.14
Weighted average number of equity shares used in computing earnings per equity share
Basic			10,444,700,646			10,462,328,534					10,462,328,534				10,576,571,110				10,456,741,552				10,456,741,552
Diluted			10,470,351,422			10,490,716,219					10,490,716,219				10,611,424,628				10,488,939,392				10,488,939,392
^ Value is less than 0.5

Information on reportable segments for the three months ended March 31, 2025, December 31, 2024, March 31, 2024, and year ended March 31, 2025 and March 31, 2024 are as follows:

Particulars	Three months ended			Year ended
	March 31, 2025	December 31, 2024	March 31, 2024	March 31, 2025	March 31, 2024
	Audited	Audited	Audited	Audited	Audited
Segment revenue
IT Services
Americas 1	73,721	72,010	67,229	281,824	268,230
Americas 2	68,582	68,120	67,724	271,972	269,482
Europe	58,552	59,282	61,344	240,077	253,927
APMEA	23,598	23,439	24,499	94,351	102,177
Total of IT Services	224,453	222,851	220,796	888,224	893,816
IT Products	813	747	1,159	2,692	4,127
Total segment revenue	225,266	223,598	221,955	890,916	897,943
Segment result
IT Services
Americas 1	16,195	14,966	14,081	58,186	59,364
Americas 2	15,513	15,275	15,791	61,326	59,163
Europe	8,140	7,600	7,933	29,434	33,354
APMEA	3,672	3,667	3,401	12,850	12,619
Unallocated	(4,250)	(2,518)	(5,011)	(10,157)	(20,304)
Total of IT Services	39,270	38,990	36,195	151,639	144,196
IT Products	28	29	143	(173)	(371)
Reconciling Items	(211)	(53)	(965)	(195)	(7,726)
Total segment result	39,087	38,966	35,373	151,271	136,099
Finance expenses	(3,767)	(4,146)	(3,308)	(14,770)	(12,552)
Finance and other income	11,819	9,708	6,759	38,202	23,896
Share of net profit/ (loss) of associate and joint venture accounted for using the equity method	291	5	(202)	254	(233)
Profit before tax	47,430	44,533	38,622	174,957	147,210

Additional Information:

The Company is organized into the following operating segments: IT Services and IT Products.

IT Services: The IT Services segment primarily consists of IT services offerings to customers organized by four Strategic Market Units (“SMUs”) – Americas 1, Americas 2, Europe and Asia Pacific Middle East and Africa (“APMEA”). Americas 1 and Americas 2 are primarily organized by industry sector, while Europe and APMEA are organized by countries.

Americas 1 includes the entire business of Latin America (“LATAM”) and the following industry sectors in the United States of America: Communications, media and information services, Software and gaming, New age technology, Consumer goods, medical devices and life sciences, Healthcare, and Technology products and services. Americas 2 includes the entire business in Canada and the following industry sectors in the United States of America: Banking and financial services, Energy, Manufacturing and resources, Capital markets and insurance, and Hi-tech.

Europe consists of the United Kingdom and Ireland, Switzerland, Germany, Northern Europe and Southern Europe.

APMEA consists of Australia and New Zealand, India, Middle East, South-East Asia, Japan and Africa.

Revenue from each customer is attributed to the respective SMUs based on the location of the customer’s primary buying center of such services. With respect to certain strategic global customers, revenue may be generated from multiple countries based on such customer’s buying centers, but the total revenue related to these strategic global customers are attributed to a single SMU based on the geographical location of key decision makers.

IT Products: The Company is a value-added reseller of security, packaged and SaaS software for leading international brands. In certain total outsourcing contracts of the IT Services segment, the Company delivers hardware, software products and other related deliverables. Revenue relating to these items is reported as revenue from the sale of IT Products.

Reconciliation of selected GAAP measures to Non-GAAP measures

1. Reconciliation of Non-GAAP Constant Currency IT Services Revenue to IT Services Revenue as per IFRS ($Mn)

Three Months ended March 31, 2025
IT Services Revenue as per IFRS	$2,596.5
Effect of Foreign currency exchange movement	$11.4
Non-GAAP Constant Currency IT Services Revenue based on previous quarter exchange rates	$2,607.9
Three Months ended March 31, 2025
IT Services Revenue as per IFRS	$2,596.5
Effect of Foreign currency exchange movement	$29.8
Non-GAAP Constant Currency IT Services Revenue based on exchange rates of comparable period in previous year	$2,626.3

Year ended March 31, 2025
IT Services Revenue as per IFRS	$10,511.5
Effect of Foreign currency exchange movement	$45.0
Non-GAAP Constant Currency IT Services Revenue based on previous year exchange rates	$10,556.6

2. Reconciliation of Free Cash Flow for three months and twelve months ended March 31, 2025

	Amount in INR Mn
	Three months ended March 31, 2025	Twelve months ended March 31, 2025
Net Income for the period [A]	35,881	132,180
Computation of Free Cash Flow
Net cash generated from operating activities [B]	37,465	169,426
Add/ (deduct) cash inflow/ (outflow)on:
Purchase of property, plant and equipment	(6,875)	(14,737)
Proceeds from sale of property, plant and equipment	306	1,822
Free Cash Flow [C]	30,896	156,511
Operating Cash Flow as percentage of Net Income [B/A]	104.4%	128.2%
Free Cash Flow as percentage of Net Income [C/A]	86.1%	118.4%

 

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Contact for Investor Relations

Dipak Kumar Bohra

Phone: +91-80-6142 7201

[email protected]

Abhishek Jain

Phone: +91-80-6142 6143

[email protected]

Contact for Media & Press

Dinesh Joshi

Phone: +91 92052-64001

[email protected]

KEYWORDS: United States India North America Asia Pacific New Jersey

INDUSTRY KEYWORDS: Professional Services Data Management Technology Software Consulting Networks

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Featuring Low 0.88 mm Profile and Wettable Flanks, Space-Saving Devices Provide Improved Thermal Performance and Efficiency

Sinclair to Report First Quarter 2025 Results on May 7, 2025 at 4:00 P.M. (Eastern Time)

BALTIMORE–(BUSINESS WIRE)–
Sinclair, Inc. (Nasdaq: SBGI) will report its first quarter 2025 earnings results at 4:00 p.m. ET on Wednesday, May 7, 2025, followed by a conference call to discuss the results at 4:30 p.m. ET.

The call will be webcast live and can be accessed at www.sbgi.net under the subtitle “Investor Relations/Events and Presentations.” The dial-in number for the earnings call is 888-506-0062, with entry code 937095.

If you plan to participate on the conference call, please call at least two minutes prior to the start time and provide the entry code to the conference operator; or tell the operator that you are joining the Sinclair Earnings Conference Call.

If you are unable to listen to the live webcast or participate in the live conference call, a replay of the call will be available on Sinclair’s website at www.sbgi.net. This will be the only venue through which a replay will be available. The company’s press release and any non-GAAP reconciliations will also be available on the website.

Members of the news media are welcome on the call in a listen-only mode. Key executives will be made available to members of the news media, time permitting, following the conference call.

The Company regularly uses its website as a key source of Company information and can be accessed at www.sbgi.net.

Category: Financial

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Christopher C. King, IRC, VP, Investor Relations

Billie-Jo McIntire, VP, Corporate Finance

410-568-1500

KEYWORDS: United States North America Maryland

INDUSTRY KEYWORDS: Media TV and Radio Communications Entertainment

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Caesars Entertainment and AGS Expand Partnership to Bring Fan-Favorite Slot Titles Online for the First Time

Partnership expansion makes Caesars’ online casino platforms the exclusive first online home for the Triple Coin Treasures family of slots, introduces a Caesars-branded version of a classic AGS game, and paves the way for exciting new launches

LAS VEGAS–(BUSINESS WIRE)–
Caesars Entertainment, Inc. (NASDAQ: CZR) (“Caesars”) today announced an expansion to its partnership with AGS (NYSE: AGS) making Caesars’ online casino platforms the exclusive first online home for the immensely popular Triple Coin Treasures® family of slot titles. This expansion includes a series of classic and new slot title launches across North America on Caesars Palace Online Casino, Caesars Sportsbook & Casino, and Horseshoe Online Casino.

The first exclusive launch will introduce Shamrock Fortunes® to Caesars’ online casino players, bringing this beloved title that has long been enjoyed at Caesars Rewards® destinations in North America online for the first time. Additional launches later in 2025 will include another beloved Triple Coin Treasures classic, a unique Caesars-branded version of a title, along with never-before-played titles from AGS that will debut simultaneously at Caesars destinations and on Caesars’ marquee online casino platforms.

“We appreciate AGS’ confidence in our ability to transition their popular slot titles from casino floors to online platforms,” said Ricardo Cornejo Rivas, Vice President of Online Gaming at Caesars Digital. “This expanded partnership, featuring beloved in-person casino slots, custom-branded titles, and new, never-before-played games, underscores our commitment to providing an ever-evolving online casino experience. We’re proud to not only introduce new titles to our players but also to bring the classic titles they have enjoyed at our destinations directly to their mobile devices.”

This marks the second collaboration between Caesars and AGS on exclusive game launches for Caesars players, both in its brick-and-mortar casinos and online casino platforms. The first collaboration in 2024 featured the simultaneous launch of the popular title Rakin’ Bacon Odyssey® in New Jersey on Caesars Palace Online Casino and at Caesars Atlantic City, Tropicana Atlantic City, and Harrah’s Atlantic City.

“Our expanded partnership with Caesars is a major milestone in AGS’ interactive growth strategy,” said Zoe Ebling, Vice President of Interactive at AGS. “Bringing our proven titles, like Shamrock Fortunes, online for the first time allows us to reach players in a whole new way while honoring the retail roots of these games. We’re especially excited to co-develop a Caesars-branded version of one of our classic games and to continue building momentum with new launches that blend innovation, familiarity, and fun.”

Caesars and AGS will celebrate the rollout of these exclusive new games with special marketing promotions linked to each title and omnichannel events for Caesars Rewards VIPs at select Caesars Rewards destinations. Once live, each game will be available on Caesars’ premier online casino platforms including Caesars Palace Online Casino, Horseshoe Online Casino, and Caesars Sportsbook & Casino.

Caesars’ online casino platforms are accessible on iOS, Android, and desktop for players aged 21 and older in New Jersey, Pennsylvania, Michigan, Ontario, and West Virginia. These platforms deliver an elevated online casino experience, featuring exclusive Caesars-branded games, high limit slots, private live dealer tables, linked progressive jackpots, various poker and roulette variations, and much more.

Online casino play, sports wagering, and in-person casino play at Caesars Rewards destinations seamlessly integrate with Caesars Rewards, the company’s industry-leading customer loyalty program. Players in the United States earn Caesars Rewards Credits through both online and in-person casino activities, redeemable for unforgettable experiences at over 50 world-class Caesars destinations across North America.

Caesars Entertainment is an industry leader in Responsible Gaming, known for pioneering Responsible Gaming awareness and education. In 1989, Caesars became the first commercial casino company to address problem gambling by launching the industry’s first Responsible Gaming program, Project 21. Today, the Company’s commitment to ensuring all players are aware of Responsible Gaming resources remains steadfast and spans all of Caesars’ digital platforms and world-class destinations in which it operates. Caesars Entertainment proudly enforces an enhanced 21+ gaming policy that prevents individuals under the age of 21 from using Caesars Rewards and restricts access to its gaming products for individuals under the age of 21.

In March 2024, Caesars Sportsbook received the prestigious RG Check accreditation from the Responsible Gambling Council in Ontario, Canada, which recognizes companies that achieve the highest standards for their Responsible Gaming practices. Just a few months later, the Company was awarded the National Council on Problem Gambling’s award for Corporate Social Responsibility. For more information about Caesars Entertainment’s Responsible Gaming program, please visit https://www.caesars.com/corporate.

*For hi-res photos, click here*

About Caesars Entertainment, Inc.

Caesars Entertainment, Inc. (NASDAQ: CZR) is the largest casino-entertainment Company in the U.S. and one of the world’s most diversified casino-entertainment providers. Since its beginning in Reno, NV, in 1937, Caesars Entertainment, Inc. has grown through development of new resorts, expansions and acquisitions. Caesars Entertainment, Inc.’s resorts operate primarily under the Caesars®, Harrah’s®, Horseshoe®, and Eldorado® brand names. Caesars Entertainment, Inc. offers diversified gaming, entertainment and hospitality amenities, one-of-a-kind destinations, and a full suite of mobile and online gaming and sports betting experiences. All tied to its industry-leading Caesars Rewards loyalty program, the Company focuses on building value with its guests through a unique combination of impeccable service, operational excellence and technology leadership. Caesars is committed to its employees, suppliers, communities and the environment through its PEOPLE PLANET PLAY framework. Know When To Stop Before You Start.® Gambling Problem? Call or text 1-800-GAMBLER. For more information, please visit www.caesars.com/corporate.

About AGS

AGS is a global company focused on creating a diverse mix of entertaining gaming experiences for every kind of player. Our roots are firmly planted in the Class II Native American gaming market, and our customer-centric culture and growth have helped us branch out to become a leading all-inclusive commercial gaming supplier. Powered by high-performing Class II and Class III slot products, an expansive table products portfolio, real-money gaming platforms and content, highly rated social casino solutions for operators and players, and best-in-class service, we offer an unmatched value proposition for our casino partners. Learn more at www.playags.com.

Responsible Gaming

Online Casino apps & websites available in MI, NJ, PA, WV and ON only. Must be 21+. See Caesars.com/sportsbook-and-casino or CaesarsPalaceOnline.com or HorseshoeOnlineCasino.com for full terms. Void where prohibited. Know When To Stop Before You Start®. Gambling Problem? MI, NJ, WV, PA (Affiliated with Harrah’s Philadelphia): If you or someone you know has a gambling problem, crisis counseling and referral services can be accessed by calling 1-800-GAMBLER (1-800-426-2537) or WV: Visit 1800gambler.net; ON: Visit connexontario.ca or call 1-866-531-2600 or text CONNEX to 247247. Accruing Caesars Rewards credits is currently not available in Ontario when using Caesars Sportsbook & Casino, Caesars Palace Online Casino, and Horseshoe Online Casino. ©2025, Caesars Entertainment

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Media Contacts:

Brad Harwood, [email protected]

Dominic Holden, [email protected]

Nikki Davis, [email protected]

KEYWORDS: United States North America Nevada

INDUSTRY KEYWORDS: Electronic Games Casino/Gaming Entertainment Online

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Xfinity and Comcast Business Services Begin Rolling Out to Additional Middletown, DE, Residents

Comcast Network Expansion to Connect 13,000 Additional Homes and Businesses in Middletown

TREVOSE, Pa.–(BUSINESS WIRE)–
Comcast announced that its reliable, high-speed, symmetrical Internet is now available to more homes and businesses in Middletown, DE, including Middletown Apartments and the Brickmill Farm neighborhood, as part of a network expansion that will ultimately reach 13,000 additional homes and businesses. The expansion brings Internet, mobile, entertainment, and security services from Xfinity and Comcast Business to residents and businesses for the first time.

“We are thrilled to welcome Comcast to the Town of Middletown as they bring their powerful network and mobile and technology solutions to our community,” said Kenny Branner, Mayor of Middletown, DE. “This investment in our infrastructure is a major step in ensuring that every resident and business has access to reliable, high-speed Internet. This expansion is not only about better connectivity but also about building a stronger, more sustainable future.”

“My wife and I made the switch to Xfinity and are pleased with our decision,” said David Lashey, a Middletown resident. “We’re happy with the savings, with the customer service and the fast speeds – great for watching my Ohio State Buckeyes.”

Residents can visit Xfinity.com/mytown and enter their addresses for additional details on construction timing and upcoming service availability. They can also stop by local Xfinity Stores in the Christiana Mall in Newark, or in Dover, to learn more about products and services. Comcast’s most recent expansion to Middletown is part of the company’s latest investment in Delaware, which also includes an expansion in Sussex County in partnership with the state of Delaware.

“Our latest investment in Middletown further expands our world-class network into this vibrant community, ensuring that all residents and businesses have access to cutting-edge technology,” said Dan Bonelli, Senior Vice President of Comcast’s Freedom Region. “With our advanced network, we’re proud to support in initiatives that will drive workforce development and digital opportunity for all.”

A Network You Can Trust to be Reliable, Fast and Secure

Comcast’s state-of-the-art network is built to enable residents and businesses to thrive in today’s constantly connected world. Middletown joins the 64 million homes and businesses across the country to have access to a network that is trusted by essential community organizations like hospitals, schools, transportation systems and first responders. It delivers gigabit Internet speeds, 99.9 percent reliability and built-in security to help keep customers safe from cyber threats.

Introducing Xfinity for Consumers

Comcast’s residential services are marketed under the Xfinity brand, and consumers in Middletown will be able to take advantage of Xfinity’s full suite of products, including Internet, video, mobile, voice and home security. With gigabit Internet speeds, powerful WiFi that reaches every corner of the home, and super-responsive connections with low lag available with its plan, customers have a great experience using their connected devices to stream their favorite sports and entertainment content, video chat with coworkers and friends, learn from home or simply surf the web.

Comcast Business to Power Middletown

For local businesses, Comcast Business offers a suite of connectivity, communications, networking, cybersecurity, wireless, and managed solutions to help organizations of all sizes achieve their business goals. Industry analysts and associations have consistently recognized Comcast Business as a leader and innovator in flexible, scalable options as well as one of the fastest-growing providers of Ethernet services.

What It Means for the Middletown Community

Comcast’s commitment to communities goes beyond building the network and aims to increase economic mobility for the local community and its residents. That’s why Comcast created Internet Essentials, a broadband adoption program that offers eligible households low-cost, high-speed Internet and affordable computers. Additionally, over the past three years, Comcast has invested more than $1.4 million in cash and in-kind donations into Delaware nonprofits focused on helping people build digital skills, expanding WiFi-connected Lift Zones and funding connectivity and Internet adoption programs.

About Comcast Corporation

Comcast Corporation (Nasdaq: CMCSA) is a global media and technology company. From the connectivity and platforms we provide, to the content and experiences we create, our businesses reach hundreds of millions of customers, viewers, and guests worldwide. We deliver world-class broadband, wireless, and video through Xfinity, Comcast Business, and Sky; produce, distribute, and stream leading entertainment, sports, and news through brands including NBC, Telemundo, Universal, Peacock, and Sky; and bring incredible theme parks and attractions to life through Universal Destinations & Experiences. Visit www.comcastcorporation.com for more information.

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Alexandra Smith

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