Comcast(US:CMCSA)2025-04-24 11:07Financial Performance - Comcast reported consolidated revenue of $29.887 billion for Q1 2025, a decrease of 0.6% compared to Q1 2024[3] - Adjusted EBITDA increased by 1.9% to $9.532 billion, while adjusted EPS rose by 4.5% to $1.09[4] - Free cash flow reached $5.421 billion, representing a 19.4% increase year-over-year[4] - Net income attributable to Comcast Corporation for the first quarter was $3,375 million, down from $3,857 million in 2024[45] - Diluted earnings per share decreased to $0.89 from $0.97 in the prior year[45] - Net income for Q1 2025 was $3,296 million, a decrease of 12.7% from $3,777 million in Q1 2024[46] - Adjusted net income for Q1 2025 was $4,132 million, a slight decrease of 0.9% from $4,171 million in Q1 2024[53] Revenue Breakdown - Connectivity revenue grew by 4.1% to $11.3 billion, driven by domestic broadband and wireless services[4] - Total revenue for Studios increased by 3.0% to $2,826 million, with content licensing revenue rising by 3.5% to $2,174 million[24] - Domestic advertising revenue decreased by 6.8% to $1,886 million, while international networks revenue increased by 13.9% to $1,162 million[22] - Theme Parks revenue decreased by 5.2% to $1,876 million, primarily due to lower guest attendance impacted by the Hollywood wildfires[26] Operational Metrics - Total customer relationships for Connectivity & Platforms decreased by 228,000 to 51.4 million, with domestic broadband customer losses of 199,000[11] - Total domestic wireless lines increased by 323,000, marking the highest additions in two years[3] - Capital expenditures decreased by 14.4% to $2.3 billion, reflecting lower spending on customer premise equipment[7] - The company reported a decrease in capital expenditures to $2,252 million, down 14.4% from $2,630 million in the previous year[50] Shareholder Returns - The company returned $3.2 billion to shareholders through $1.2 billion in dividends and $2.0 billion in share repurchases, reducing shares outstanding by 5%[4] Media Performance - Media adjusted EBITDA surged by 21% to $1.0 billion, primarily due to growth from Peacock, which saw a 16% revenue increase to $1.2 billion[4] - Adjusted EBITDA for Media increased by 21.5% to $1,004 million, up from $827 million in the prior year, driven by lower operating expenses and higher revenue[23] Cash Flow and Assets - Net cash provided by operating activities increased to $8,294 million, up 5.7% from $7,848 million in the prior year[50] - Cash and cash equivalents at the end of Q1 2025 were $8,652 million, an increase of 31.8% from $6,586 million at the end of Q1 2024[46] - Total current assets rose to $27,314 million, an increase of 1.9% from $26,801 million at the end of 2024[47] - Total current liabilities increased to $42,325 million, up 6.9% from $39,581 million at the end of 2024[48] Future Plans - Comcast plans to open the Epic Universe theme park in Orlando on May 22, 2025, and is also developing a new theme park in the UK[4] Segment Performance - Adjusted EBITDA for Theme Parks decreased by 32.1% to $429 million, reflecting lower revenue and higher operating expenses[27] - Corporate & Other Adjusted EBITDA loss improved to $311 million from a loss of $329 million in the prior year[30] - Revenue eliminations between segments were $1,449 million, consistent with the prior year period[32]