Comcast Sees Q2 Revenue Gain

Comcast Corporation has posted second-quarter revenues of $26.9 billion, a 23.6-percent gain on the year-ago period, with net income slipping by 2.8 percent to $3.1 billion.

“I am very pleased with our terrific second-quarter results and the continued, successful execution of our strategy,” said Chairman and CEO Brian Roberts. Each of our businesses demonstrated healthy growth in adjusted EBITDA, contributing to a double-digit increase in adjusted earnings per share. Our company’s consistent, profitable growth is fueled by our leading scale in direct customer relationships and premier content. We now have nearly 55 million high-value direct customer relationships, including the 456,000 net additions in the second quarter, and a vast library of intellectual property and new productions that are extremely popular across generations and geographies. Our teams throughout the company continue to collaborate to make themselves and each other even stronger, and I’m excited about our growth opportunities ahead.”

NBCUniversal’s revenues were fairly stable at $8.2 billion, with gains in cable networks and theme parks helping to offset a 14.8-percent reduction in filmed entertainment revenues. Cable network revenues rose by 2.5 percent to $2.9 billion, reflecting higher distribution and content licensing and other revenue. Broadcast TV revenues were flat at $2.4 billion, with distribution revenues up but advertising and content licensing revenues down. Filmed entertainment revenues fell to $1.5 billion due to lower theatrical revenue.

Sky’s revenues, excluding the impact of currency, were up 2.4 percent to $4.8 billion, including $3.9 billion in direct-to-consumer revenues, $376 million in content revenues and $563 million in ad revenues. Sky ended Q2 with 24 million customer relationships.

At Comcast Cable, revenues increased by 3.9 percent to $14.5 billion, boosted by high-speed internet, wireless and business services revenues, while revenues from video and voice were down slightly and advertising fell by 8.7 percent. Total video customer net losses were 224,000 in the period.