{"id":751937,"date":"2023-04-27T07:46:09","date_gmt":"2023-04-27T11:46:09","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/comcast-reports-1st-quarter-2023-results\/"},"modified":"2023-04-27T07:46:09","modified_gmt":"2023-04-27T11:46:09","slug":"comcast-reports-1st-quarter-2023-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/comcast-reports-1st-quarter-2023-results\/","title":{"rendered":"Comcast Reports 1st Quarter 2023 Results"},"content":{"rendered":"

<\/p>\n

Comcast Reports 1st Quarter 2023 Results<\/b><\/p>\n

PHILADELPHIA–(BUSINESS WIRE<\/a>)–
\nComcast Corporation (NASDAQ: CMCSA) today reported results for the quarter ended March 31, 2023.<\/p>\n

\n“We delivered strong first quarter results as our team executed exceptionally well<\/i>,” said Brian L. Roberts, Chairman and Chief Executive Officer of Comcast Corporation. “We grew Adjusted EBITDA and Adjusted EPS, and generated a significant amount of free cash flow. We accomplished all of this while continuing to invest in future growth initiatives. Also, importantly, we had solid revenue growth in our high-margin connectivity businesses, while increasing our Peacock subscribers more than 60% year-over-year. Our theme parks set a new record of Adjusted EBITDA for a first quarter. In addition, we returned a healthy amount of capital to our shareholders and maintained an enviable balance sheet. As we look ahead, we have great momentum across the company, including Studios where Super Mario Bros. has smashed global box office records to become one of the most successful movies of 2023.<\/i>”<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
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\n\u00a0<\/p>\n<\/td>\n

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($ in millions, except per share data)<\/i><\/p>\n<\/td>\n

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\n\u00a0<\/p>\n<\/td>\n

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\n\u00a0<\/p>\n<\/td>\n

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1st Quarter<\/span><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

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\n\u00a0<\/p>\n<\/td>\n

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Consolidated Results<\/b><\/p>\n<\/td>\n

\n\n\n\n

2023<\/span><\/p>\n<\/td>\n

\n\n\n

2022<\/span><\/p>\n<\/td>\n

\n\n\n

Change<\/span><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

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\n\u00a0<\/p>\n<\/td>\n

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\n\u00a0<\/p>\n<\/td>\n

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\n\u00a0<\/p>\n<\/td>\n

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\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

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\n\u00a0<\/p>\n<\/td>\n

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\nRevenue<\/p>\n<\/td>\n

\n\n\n\n

\n$29,691<\/p>\n<\/td>\n

\n\n\n

\n$31,010<\/p>\n<\/td>\n

\n\n\n

\n(4.3<\/p>\n<\/td>\n

\n

\n%)<\/p>\n<\/td>\n

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\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

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\n\u00a0<\/p>\n<\/td>\n

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\nNet Income Attributable to Comcast<\/p>\n<\/td>\n

\n\n\n\n

\n$3,834<\/p>\n<\/td>\n

\n\n\n

\n$3,549<\/p>\n<\/td>\n

\n\n\n

\n8.0<\/p>\n<\/td>\n

\n

\n%<\/p>\n<\/td>\n

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\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

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\n\u00a0<\/p>\n<\/td>\n

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\nAdjusted Net Income1<\/sup><\/p>\n<\/td>\n

\n\n\n\n

\n$3,877<\/p>\n<\/td>\n

\n\n\n

\n$3,900<\/p>\n<\/td>\n

\n\n\n

\n(0.6<\/p>\n<\/td>\n

\n

\n%)<\/p>\n<\/td>\n

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\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

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\n\u00a0<\/p>\n<\/td>\n

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\nAdjusted EBITDA2<\/sup><\/p>\n<\/td>\n

\n\n\n\n

\n$9,415<\/p>\n<\/td>\n

\n\n\n

\n$9,150<\/p>\n<\/td>\n

\n\n\n

\n2.9<\/p>\n<\/td>\n

\n

\n%<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\n\u00a0<\/p>\n<\/td>\n

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\nEarnings per Share3<\/sup><\/p>\n<\/td>\n

\n\n\n\n

\n$0.91<\/p>\n<\/td>\n

\n\n\n

\n$0.78<\/p>\n<\/td>\n

\n\n\n

\n16.7<\/p>\n<\/td>\n

\n

\n%<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

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\n\u00a0<\/p>\n<\/td>\n

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\nAdjusted Earnings per Share1<\/sup><\/p>\n<\/td>\n

\n\n\n\n

\n$0.92<\/p>\n<\/td>\n

\n\n\n

\n$0.86<\/p>\n<\/td>\n

\n\n\n

\n7.0<\/p>\n<\/td>\n

\n

\n%<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\nNet Cash Provided by Operating Activities<\/p>\n<\/td>\n

\n\n\n\n

\n$7,228<\/p>\n<\/td>\n

\n\n\n

\n$7,257<\/p>\n<\/td>\n

\n\n\n

\n(0.4<\/p>\n<\/td>\n

\n

\n%)<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\n\u00a0<\/p>\n<\/td>\n

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\nFree Cash Flow4<\/sup><\/p>\n<\/td>\n

\n\n\n\n

\n$3,800<\/p>\n<\/td>\n

\n\n\n

\n$4,760<\/p>\n<\/td>\n

\n\n\n

\n(20.2<\/p>\n<\/td>\n

\n

\n%)<\/p>\n<\/td>\n

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\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

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\n\u00a0<\/p>\n<\/td>\n

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\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<\/table>\n

For additional detail on segment revenue and expenses, customer metrics, capital expenditures, and free cash flow, please refer to the trending schedule on Comcast\u2019s Investor Relations website at www.cmcsa.com<\/a>.<\/sup><\/p>\n

1st Quarter<\/b>2023 Highlights:<\/b><\/p>\n