Financial Data and Key Metrics Changes - Total revenue decreased by 2.7% to $29.7 billion, with six major growth drivers generating over $16 billion in revenue, growing at a mid-single-digit rate over the past 12 months [18][19] - Total EBITDA remained consistent at $10.2 billion, while free cash flow was $1.3 billion, impacted by higher cash taxes [19][32] - Adjusted EPS grew by 7% due to a reduction in share count by over 6% [19] Business Line Data and Key Metrics Changes - Connectivity & Platforms revenue was consistent at $20.2 billion, with residential connectivity revenue growing by 6% [20][26] - Domestic broadband revenue grew by 3%, while domestic wireless revenue increased by 17% [20] - Theme parks revenue decreased by 11% and EBITDA declined by 24%, primarily due to lower attendance at domestic parks [27][28] Market Data and Key Metrics Changes - The broadband customer base remains at 32 million, with ARPU growing by 3.6% [6][20] - International connectivity revenue grew at a mid-teens rate, driven by broadband [24] - Peacock revenue grew by 28%, with a 38% year-over-year increase in paid subscribers to 33 million [29] Company Strategy and Development Direction - The company is focused on expanding its broadband network and enhancing its offerings for price-conscious consumers through new products [6][7] - The upcoming opening of Epic Universe in 2025 is expected to drive long-term growth in the parks segment [11][28] - The company is prioritizing organic growth opportunities, such as the NBA partnership, over acquisitions [35][56] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the broadband strategy despite competitive pressures, emphasizing the importance of market segmentation [6][20] - The parks segment is expected to normalize post-COVID, with management optimistic about future attractions [10][11] - The company anticipates a strong second half of the year driven by upcoming content and events, including the Olympics [30][59] Other Important Information - The company returned $3.4 billion to shareholders, including $2.2 billion in share repurchases [32][33] - The government ended funding for the ACP program, but the company has proactively managed the transition for affected customers [21][40] Q&A Session Summary Question: Insights on ACP and parks outlook - Management indicated that the bulk of ACP-related subscriber activity is expected in Q3, with minimal impact observed in Q2 [41][42] - Attendance challenges in parks are attributed to COVID recovery normalization and timing of new attractions, with expectations for improvement as new attractions open [46] Question: Delinquency rates and gross adds impact - Management reported no significant delinquency issues at this stage and minimal impact on gross adds from ACP in Q2 [48][49] Question: Content costs and CapEx trends - Content costs were lower due to timing, and CapEx is expected to align with initial guidance despite some variability [67] Question: NBA deal financial returns and advertising market - The NBA contract will start impacting expenses in the 2025-2026 season, with management optimistic about the long-term benefits [69][70] - The advertising market remains stable, with strong upfront results for Peacock [59]

2 nd Quarter 2024 Results J u l y 2 3 , 2 0 2 4 IMPORTANT INFORMATION Caution Concerning Forward-looking Statements This presentation includes statements that may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are not historical facts or statements of current conditions, but instead represent only our beliefs regard ...

About this content About Ian Lyall Ian Lyall, a seasoned journalist and editor, brings over three decades of experience to his role as Managing Editor at Proactive. Overseeing Proactive's editorial and broadcast operations across six offices on three continents, Ian is responsible for quality control, editorial policy, and content production. He directs the creation of 50,000 pieces of real-time news, feature articles, and filmed interviews annually. Prior to Proactive, Ian helped lead the business outpu ...

Financial Performance - Comcast reported a revenue of $29.688 billion for Q2 2024, a decrease of 2.7% compared to $30.513 billion in Q2 2023[1]. - Net income attributable to Comcast decreased by 7.5% to $3.929 billion, down from $4.248 billion in the prior year[1]. - Adjusted EPS increased by 7.0% to $1.21, while earnings per share decreased by 1.3% to $1.00[1][2]. - Free cash flow was $1.338 billion, a significant decline of 60.9% from $3.421 billion in Q2 2023[1]. - Operating income for the first half of 2024 was $12,445 million, slightly up from $12,355 million in the same period of 2023, reflecting a 0.7% increase[36]. - Free cash flow for the first half of 2024 was $5,877 million, a decrease of 18.6% compared to $7,221 million in the first half of 2023[44]. - The diluted earnings per share for Q2 2024 was $1.00, compared to $1.02 in Q2 2023, reflecting a decrease of 1.96%[36]. - Comcast reported a net income of $3,929 million for the three months ended June 30, 2024, a decrease of 7.5% compared to $4,248 million in the same period of 2023[46]. - Adjusted net income for the same period was $4,735 million, reflecting a slight increase of 0.2% from $4,723 million year-over-year[46]. Revenue Breakdown - Total Content & Experiences Revenue decreased by 7.5% to $10,057 million compared to $10,873 million in the prior year period, driven by declines in Studios and Theme Parks[11]. - Media Revenue increased by 2.1% to $6,324 million, primarily due to a 5.7% increase in Domestic Distribution revenue, offset by a 1.7% decrease in Domestic Advertising revenue[12]. - Studios Revenue decreased by 27.0% to $2,253 million, primarily due to a 74.1% decline in Theatrical revenue and a 5.9% decrease in Content Licensing revenue[15]. - Theme Parks Revenue decreased by 10.6% to $1,975 million, attributed to lower guest attendance at domestic parks and negative foreign currency impacts at international parks[17]. - Corporate & Other Revenue increased by 8.0% to $706 million, with Adjusted EBITDA loss improving to $260 million from a loss of $303 million in the prior year[22]. Cash Flow and Capital Expenditures - Capital expenditures decreased by 8.1% to $2.7 billion, with Connectivity & Platforms capital expenditures down by 12.9% to $1.9 billion[2]. - Capital expenditures for the first half of 2024 were $5,354 million, a slight decrease from $5,627 million in the same period of 2023[38]. - The company reported a net cash provided by operating activities of $12,572 million for the first half of 2024, down from $14,426 million in the first half of 2023, a decline of 12.9%[38]. Subscriber and User Growth - Domestic broadband revenue grew by 3.0% to $6.6 billion, driven by a 3.6% increase in average revenue per user (ARPU)[1][7]. - Peacock paid subscribers rose by 38.0% year-over-year to 33 million, with revenue increasing by 28% to $1.0 billion[1][8]. - Domestic wireless customer lines increased by 20% year-over-year to 7.2 million, including net additions of 322,000 in Q2 2024[1][6]. Adjusted EBITDA Analysis - Connectivity & Platforms Adjusted EBITDA increased by 1.6% to $8.5 billion, with an Adjusted EBITDA margin reaching a record high of 41.9%[1][4]. - Adjusted EBITDA for Content & Experiences decreased by 10.9% to $1,949 million, with declines in Theme Parks and Studios partially offset by growth in Media[11]. - Adjusted EBITDA for Media increased by 9.0% to $1,356 million, driven by higher revenue and consistent operating expenses[12]. - Adjusted EBITDA for Studios decreased by 51.4% to $124 million, reflecting lower revenue that outweighed reduced operating expenses[15]. - Adjusted EBITDA for Theme Parks decreased by 24.1% to $632 million, reflecting lower revenue despite reduced operating expenses[17]. Balance Sheet and Assets - Total current liabilities decreased to $35,342 million as of June 30, 2024, down from $40,198 million at the end of 2023, representing a reduction of 12.5%[40]. - Cash, cash equivalents, and restricted cash at the end of Q2 2024 were $6,141 million, down from $7,202 million at the end of Q2 2023, indicating a decline of 14.7%[38]. - Total assets as of June 30, 2024, were $262,555 million, a decrease from $264,811 million at the end of 2023, representing a reduction of 0.9%[40]. Other Financial Metrics - The company reported realized and unrealized gains on equity securities of $89 million for the three months ended June 30, 2024, compared to $38 million in the same period of 2023[48]. - Amortization of acquisition-related intangible assets before income taxes was $563 million for the three months ended June 30, 2024, slightly down from $572 million in the prior year[47]. - The company reported an equity in net income losses of investees of $403 million for the three months ended June 30, 2024, significantly up from $3 million in the same period of 2023[48].

Tech leader's sizable investment brings new high-speed connectivity options to South Miami, Coral Terrace and West MiamiMIAMI, July 22, 2024 /PRNewswire/ -- A new and powerful Internet network is now online in Miami-Dade's 33155 and 33143 zip codes, connecting communities to high-speed, reliable Internet. Thousands of homes and businesses in parts of South Miami, Coral Terrace and West Miami can now access Xfinity and Comcast Business services for the first time. Comcast invested $7.5 million to make this t ...

Third Xfinity Store to support growing customer base, Xfinity network in West MichiganGRAND RAPIDS, Mich., July 18, 2024 /PRNewswire/ -- Comcast today announced the opening of a new Xfinity Store in Kentwood – its third in the Grand Rapids metropolitan area. Located at 3468 28th St SE, the retail location includes 3,500 square feet of Xfinity and Comcast Business products and services. From left to right: Jeff Snyder, Government Affairs Manager, Comcast; Tamara Weaver, Xfinity Store Manager; Craig D'Agos ...

Epic Universe is going to be a game changer in Orlando, but it doesn't mean that all players can't win the game.Theme park operators live for the summer. Global leader Walt Disney (DIS -0.27%) and its peers relish the opportunity to cash in on the longest of the school breaks, which features a surge in travel activity. However, investors are already drawing circles on their calendars around next summer, when the first major new U.S. theme park in more than 20 years will make its debut.Comcast's (CMCSA 1.63% ...

Key Takeaways"Despicable Me 4" has earned $122.6 million domestic and $229.5 million globally.The Universal and Illumination film cost $100 million to produce."Inside Out 2" continued its strong showing, earning $30 million in its fourth weekend. “Despicable Me 4” earned $122.6 million domestically in the five days since its debut, sending a signal that summer blockbusters are alive and well. Globally, the film has earned $229.5 million, including $106.9 million from 73 international markets. The latest ins ...

The launch of the new Kansas City campus represents a pivotal moment in the efforts to bridge the digital skills gap and foster economic growth in the region; Now Accepting ApplicationsKANSAS CITY, Mo., June 26, 2024 /PRNewswire/ -- National tech training nonprofit Per Scholas launches its new campus in Kansas City, joining Great Jobs KC, the leading workforce development program in Kansas City, to provide holistic information technology training and career development opportunities. This strategic alliance ...

When considering a stock, the lion’s share of investor attention typically goes to price appreciation. Still, there is one other – less popular – side to stock investing. Dividends can act as an investor’s best friend if they acquire a stock cheap enough to lock in a higher dividend yield. To clarify, the relationship between price and dividend yields is inverse.Because of this, looking for stocks that have recently sold off or traded close to their 52-week low prices can be a profitable hunt for investors ...