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Comcast Earnings Report: Q1 2014

Comcast Earnings Report: Q1 2014

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Published by Matthew Keys
Released 22/April/2014
Released 22/April/2014

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Published by: Matthew Keys on Apr 22, 2014
Copyright:Traditional Copyright: All rights reserved

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04/23/2014

 
 
UWFSS WFBFNSF
CIOCNS] WFUIW]S >st ^VNW]FW 75>= WFSVB]S
Cilsibjmntfm >st ^unrtfr 75>= Ajdabjdats;
 Cilsibjmntfm Wfvfluf Jlcrfnsfm >3.4%, Ipfrntjld Cnsa @biw Jlcrfnsfm >5.5% nlm Ipfrntjld Jlciof Jlcrfnsfm >0.3%
 Fnrljlds pfr Sanrf Jlcrfnsfm 3>.6% ti $5.4>8 Fxcbumjld Dnjls il Snbfs nlm Ncqujsjtjil-Wfbntfm Jtfos, FUS Jlcrfnsfm 33.3% ti $5.01
 ^unrtfrby Mjvjmflms nlm ^unrtfrby Sanrf Wfpurcansfs Jlcrfnsfm 36.6% ti $>.3 Gjbbjil
Cngbf Cioouljcntjils >st ^unrtfr 75>= Ajdabjdats;
 Cngbf Cioouljcntjils Wfvfluf Jlcrfnsfm 6.3% nlm Ipfrntjld Cnsa @biw Jlcrfnsfm =.3%
 Cngbf Cioouljcntjils Custiofr Wfbntjilsajps Jlcrfnsfm gy >7=,555 ti 70.1 Ojbbjil
 Pjmfi Custiofrs Jlcrfnsfm gy 7=,555, taf Sfcilm Cilsfcutjvf ^unrtfr i` Custiofr Driwta
 Ajda-Spffm Jltfrlft Custiofrs Jlcrfnsfm gy 313,5558 Wfvfluf Driwta i` :.5% Js taf Strildfst Wntf i` Driwta jl ]wi Zfnrs
 Gusjlfss Sfrvjcfs Wfvfluf Jlcrfnsfm 73.:%, Npprincajld n $= Gjbbjil Nllunb Wul-Wntf
LGCVljvfrsnb >st ^unrtfr 75>= Ajdabjdats;
 LGCVljvfrsnb Wfvfluf Jlcrfnsfm 71.1% nlm Ipfrntjld Cnsa @biw Jlcrfnsfm 34.0%
 Grinmcnst Wfvfluf Jlcrfnsfm >4.5%, Fxcbumjld Ibyopjcs, nlm Js Wnlhfm #> Sfnsil-ti-Mntf  Noild Nmubts >1-=:
 @jbo Ipfrntjld Cnsa @biw Jlcrfnsfm Ivfr $755 Ojbbjil
 ]af Sicaj Ibyopjcs Dflfrntfm Ivfr $>.> Gjbbjil jl Wfvfluf UAJBNMFBUAJN – Nprjb 77, 75>=…
 
Ciocnst Cirpirntjil (LNSMN^; COCSN, COCSH) timny rfpirtfm rfsubts `ir taf qunrtfr flmfm Onrca 3>, 75>=. Grjnl B. Wigfrts, Canjronl nlm Cajf` Fxfcutjvf I``jcfr i` Ciocnst Cirpirntjil, snjm, ‒Iur ipfrntjld oiofltuo js ciltjlujld ns wf fltfr 75>= nlm js ajdabjdatfm gy iur sfcilm cilsfcutjvf qunrtfr i` vjmfi custiofr driwta, ns wfbb ns strfldta jl ajda-spffm Jltfrlft nlm gusjlfss sfrvjcfs. Iur `icus il taf custiofr fxpfrjflcf ciltjlufs ti mrjvf iur succfss ns wf mfbjvfr taf oist jllivntjvf primucts jl taf jlmustry nlm onhf ofnsurngbf pridrfss jl custiofr sfrvjcf. Nt LGCVljvfrsnb, wf anm nlitafr supfrg qunrtfr wjta miugbf-mjdjt rfvfluf nlm ipfrntjld cnsa `biw driwta mrjvfl gy taf trfoflmiusby succfss`ub Sicaj Ibyopjcs nlm taf gfst sfnsil-ti-mntf grinmcnst rntjlds jl n mfcnmf. Ivfrnbb, taf ciopnly js pfr`irojld wfbb nlm taf oirf pbnlljld wf mi `ir iur pripisfm ofrdfr wjta ]jof Tnrlfr Cngbf, taf oirf fxcjtfm wf nrf gy taf ippirtuljtjfs `ir taf ciogjlfm ciopnly. Ciocnst ans trfoflmius oiofltuo rjdat liw, nlm wf gfbjfvf taf ]TC trnlsnctjil wjbb strfldtafl n truby wirbm-cbnss irdnljzntjil tant wjbb gf wfbb pisjtjilfm ti ciopftf nlm yjfbm ofnljld`ub gflf`jts ti iur custiofrs, fopbiyffs, nlm sanrfaibmfrs.‟
 
Cilsibjmntfm @jlnlcjnb Wfsubts
R
>st ^unrtfr
($ jl ojbbjils)
75>3 75>=Driwta
Wfvfluf $>6,3>5 $>4,=51>3.4%
Fxcbumjld Ibyopjcs $>6,3>5 $>0,3560.6%
Ipfrntjld Cnsa @biw
>
 $6,53= $6,631>5.5%
Fxcbumjld ]TC ]rnlsnctjil Cists $6,53= $6,666>5.=%
Ipfrntjld Jlciof $3,504 $3,601>0.3%Fnrljlds pfr Sanrf $5.6= $5.4>3>.6%
Fxcbumjld Nmkustoflts (sff ]ngbf =) $5.6> $5.0133.3%
@rff Cnsa @biw
3
 $3,>31 $7,17=(>5.5%)
 
@ir nmmjtjilnb mftnjb il sfdoflt rfvfluf nlm fxpflsfs, custiofr oftrjcs, cnpjtnb fxpflmjturfs, nlm `rff cnsa `biw, pbfnsf rf`fr ti taf trflmjld scafmubfs il Ciocnst‚s Jlvfstir Wfbntjils wfgsjtf nt www.cocsn.cio ir www.cocsh.cio.
 
 7
Cilsibjmntfm Wfvfluf
 `ir taf `jrst qunrtfr i` 75>= jlcrfnsfm >3.4% ti $>4.= gjbbjil. Fxcbumjld $>.> gjbbjil i` rfvfluf dflfrntfm gy taf 75>= Sicaj Ibyopjcs, cilsibjmntfm rfvfluf jlcrfnsfm 0.6%.
Cilsibjmntfm
 
Ipfrntjld Cnsa @biw
 jlcrfnsfm >5.5% ti $6.6 gjbbjil. Fxcbumjld $>4 ojbbjil i` cists rfbntfm ti taf ]jof Tnrlfr Cngbf trnlsnctjil jl taf `jrst qunrtfr i` 75>=, cilsibjmntfm ipfrntjld cnsa `biw jlcrfnsfm >5.=% (Sff ]ngbf 6).
Cilsibjmntfm
 
Ipfrntjld Jlciof
 jlcrfnsfm >0.3% ti $3.0 gjbbjil.
Fnrljlds pfr Sanrf (FUS)
 `ir taf `jrst qunrtfr i` 75>= wns $5.4>, n 3>.6% jlcrfnsf `rio taf $5.6= rfpirtfm jl taf `jrst qunrtfr i` 75>3. Fxcbumjld dnjls il taf snbf i` nl jlvfstoflt nlm n `nvirngbf rfsibutjil i` n prjir ncqujsjtjil ciltjldflcy jl taf `jrst qunrtfr i` 75>=, ns wfbb ns n dnjl il taf snbf i` wjrfbfss spfctruo bjcflsfs jl taf `jrst qunrtfr i` 75>3, FUS jlcrfnsfm 33.3% ti $5.01 (sff ]ngbf =).
Cnpjtnb Fxpflmjturfs
 jlcrfnsfm 0.=% ti $>.= gjbbjil jl taf `jrst qunrtfr i` 75>= ciopnrfm ti taf `jrst qunrtfr i` 75>3. Cngbf Cioouljcntjils‚ cnpjtnb fxpflmjturfs jlcrfnsfm $6> ojbbjil, ir =.0%, ti $>.> gjbbjil jl taf `jrst qunrtfr i` 75>=, prjonrjby rf`bfctjld jlcrfnsfm spflmjld il custiofr prfojsf fqujpoflt rfbntfm ti taf mfpbiyoflt i` taf Q> pbnt`iro nlm wjrfbfss dntfwnys. Cngbf cnpjtnb fxpflmjturfs rfprfsfltfm >5.0% i` Cngbf rfvfluf jl taf `jrst qunrtfr i` 75>= ciopnrfm ti >5.4% jl bnst yfnr‚s `jrst qunrtfr. LGCVljvfrsnb‚s cnpjtnb fxpflmjturfs jlcrfnsfm $71 ojbbjil ti $7:> ojbbjil jl taf `jrst qunrtfr i` 75>=, prjonrjby rf`bfctjld jlcrfnsfm jlvfstoflts jl ]afof Unrhs nlm `ncjbjtjfs.
@rff Cnsa @biw
 mfcrfnsfm >5.5% ti $7.1 gjbbjil jl taf `jrst qunrtfr i` 75>= ciopnrfm ti $3.> gjbbjil jl taf `jrst qunrtfr i` 75>3, rf`bfctjld jlcrfnsfm wirhjld cnpjtnb, onjlby mrjvfl gy taf Ibyopjcs nlm ajdafr `jbo nlm ]P primuctjil spflm, cnpjtnb fxpflmjturfs nlm cnsa tnxfs il ipfrntjld jtfos, pnrtjnbby i``sft gy driwta jl cilsibjmntfm ipfrntjld cnsa `biw.
>st ^unrtfr
($ jl ojbbjils)
75>3 75>= Driwta
Ipfrntjld Cnsa @biw $6,53= $6,631 >5.5%Cnpjtnb Fxpflmjturfs (>,30>) (>,==1) 0.=%Cnsa Unjm `ir Cnpjtnbjzfm Si`twnrf nlm Itafr Jltnldjgbf Nssfts (>17) (7>4) >:.7%Cnsa Jltfrfst Fxpflsf (0>4) (073) >.5%Cnsa ]nxfs il Ipfrntjld Jtfos (>:=) (701) 31.>%Canldfs jl Ipfrntjld Nssfts nlm Bjngjbjtjfs 30: (704) LOLilcnsa Sanrf-Gnsfm Ciopflsntjil >57 >>: >0.4%Mjstrjgutjils ti Lilciltribbjld Jltfrfsts nlm Mjvjmflms `ir Wfmffongbf Sugsjmjnry Urf`frrfm Stich (=:) (00) 3=.4%Itafr 30 60 66.0%
@rff Cnsa @biw
3
 $3,>31 $7,17= (>5.5%)
LO?ciopnrjsil lit ofnljld`ub.
Mjvjmflms nlm Sanrf Wfpurcansfs.
Murjld taf `jrst qunrtfr i` 75>=, Ciocnst pnjm mjvjmflms titnbjld $651 ojbbjil nlm rfpurcansfm >6.5 ojbbjil i` jts ciooil sanrfs `ir $465 ojbbjil. Ns i` Onrca 3>, 75>=, Ciocnst anm npprixjontfby $0.46 gjbbjil nvnjbngbf ulmfr jts sanrf rfpurcansf nutairjzntjil.
Cngbf Cioouljcntjils
>st ^unrtfr
($ jl ojbbjils)
75>3 75>= Driwta
Cngbf Cioouljcntjils Wfvfluf Pjmfi $6,>>3 $6,>41 >.3%Ajda-Spffm Jltfrlft 7,673 7,465 :.5%Pijcf :55 :75 7.>%Gusjlfss Sfrvjcfs 4=> :>4 73.:% Nmvfrtjsjld =11 6>: 0.7%Itafr =67 =43 =.1%
Cngbf Cioouljcntjils Wfvfluf $>5,7>4 $>5,464 6.3%
 
Cngbf Cioouljcntjils Ipfrntjld Cnsa @biw $=,7>: $=,=55 =.3%
Ipfrntjld Cnsa @biw Onrdjl
 
=>.3% =5.:%
Cngbf Cioouljcntjils Cnpjtnb Fxpflmjturfs $>,5:= $>,>=6 =.0%
Ufrcflt i` Cngbf Cioouljcntjils Wfvfluf
 
>5.4% >5.0%
 
 3
Wfvfluf
 `ir Cngbf Cioouljcntjils jlcrfnsfm 6.3% ti $>5.1 gjbbjil jl taf `jrst qunrtfr i` 75>= ciopnrfm ti $>5.7 gjbbjil jl taf `jrst qunrtfr i` 75>3, mrjvfl gy jlcrfnsfs i` :.5% jl ajda-spffm Jltfrlft nlm 73.:% jl gusjlfss sfrvjcfs. ]af jlcrfnsf jl Cngbf rfvfluf rf`bfcts rntf nmkustoflts, custiofrs rfcfjvjld ajdafr bfvfbs i` sfrvjcfs nlm custiofr driwta (sff gfbiw).
Custiofr rfbntjilsajps
jlcrfnsfm gy >7=,555 ti 70.1 ojbbjil
 
jl taf `jrst qunrtfr i` 75>=. Nt taf flm i` taf `jrst qunrtfr, pflftrntjil i` iur trjpbf primuct custiofrs jlcrfnsfm ti 30% ciopnrfm ti 33% jl taf `jrst qunrtfr i` 75>3. Jl nmmjtjil, vjmfi, ajda-spffm Jltfrlft nlm vijcf custiofrs jlcrfnsfm.
Custiofrs Lft Nmms
Gjbbngbf Custiofrs Oftaim
=
 (jl taiusnlms)
>^>3>^>= >^>3 >^>=
Pjmfi Custiofrs 77,1>:77,05> (76) 7=Ajda-Spffm Jltfrlft Custiofrs >:,4::7>,501 =33 313Pijcf Custiofrs >5,>00>5,106 7>> >=7
 
Sjldbf Urimuct Custiofrs :,7501,056 (>=4)Miugbf Urimuct Custiofrs 1,6011,060 >>0]rjpbf Urimuct Custiofrs 1,17>:,63: >66
Custiofr Wfbntjilsajps 70,6:070,155 >7=
 Ipfrntjld Cnsa @biw
 `ir Cngbf Cioouljcntjils jlcrfnsfm =.3% ti $=.= gjbbjil jl taf `jrst qunrtfr i` 75>= ciopnrfm ti $=.7 gjbbjil jl taf `jrst qunrtfr i` 75>3, rf`bfctjld ajdafr rfvfluf, pnrtjnbby i``sft gy n 0.5% jlcrfnsf jl ipfrntjld fxpflsfs prjonrjby rfbntfm ti ajdafr vjmfi pridrnoojld cists. ]ajs qunrtfr‚s ipfrntjld cnsa `biw onrdjl wns =5.:%, ciopnrfm ti =>.3% jl taf prjir yfnr pfrjim.
LGCVljvfrsnb
>st ^unrtfr
($ jl ojbbjils)
75>375>= Driwta
Fxcbumjld  Ibyopjcs 
LGCVljvfrsnb Wfvfluf Cngbf Lftwirhs $7,776$7,656 >7.0%
>.5%
Grinmcnst ]fbfvjsjil >,6>47,07> 47.1%
>4.5%
@jbofm Fltfrtnjloflt >,7>0>,36> >>.>% ]afof Unrhs =07=14 6.=% Afnmqunrtfrs, Itafr nlm Fbjojlntjils (15)(11) LO
LGCVljvfrsnb Wfvfluf $6,3=5$0,140 71.1%
1.>%
 
LGCVljvfrsnb Ipfrntjld Cnsa @biw Cngbf Lftwirhs $16:$1:6 =.7% Grinmcnst ]fbfvjsjil (36)>77 LO @jbofm Fltfrtnjloflt 0:711 LO ]afof Unrhs >43>45 (>.6%) Afnmqunrtfrs, Itafr nlm Fbjojlntjils (>>3)(>0=) LO
LGCVljvfrsnb Ipfrntjld Cnsa @biw $:63$>,3>> 34.0%
Wfvfluf
`ir LGCVljvfrsnb jlcrfnsfm 71.1% ti $0.: gjbbjil jl taf `jrst qunrtfr i` 75>= ciopnrfm ti $6.3 gjbbjil jl taf `jrst qunrtfr i` 75>3, prjonrjby mrjvfl gy 75>= Sicaj Ibyopjcs rfvfluf i` $>.> gjbbjil jlcbumfm jl taf Grinmcnst ]fbfvjsjil nlm Cngbf Lftwirhs sfdoflts. Fxcbumjld taf Ibyopjcs, LGCVljvfrsnb rfvfluf jlcrfnsfm 1.>% (sff ]ngbf 6).
Ipfrntjld Cnsa @biw
 jlcrfnsfm 34.0% ti $>.3 gjbbjil ciopnrfm ti $:63 ojbbjil jl taf `jrst qunrtfr i` 75>3, mrjvfl gy n pri`jtngbf Ibyopjcs nlm strild rfsubts nt @jbofm Fltfrtnjloflt nlm Grinmcnst ]fbfvjsjil.

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