Comcast Q1 2021 Earnings Report
Key Takeaways
Comcast Corporation reported a 2.2% increase in revenue to $27.2 billion for Q1 2021. Net income attributable to Comcast increased by 55.1% to $3.3 billion, with adjusted EPS rising by 7.0% to $0.76. Cable Communications saw record customer relationship net additions, and the company's theme parks reached breakeven, excluding Universal Beijing Resort pre-opening costs.
Consolidated Adjusted EBITDA increased by 3.5%, and Adjusted EPS increased by 7.0% to $0.76, with Free Cash Flow generation of $5.3 billion.
Total customer relationships across Cable Communications and Sky increased by 3.3% year-over-year to 56.9 million, including net additions of 602,000 in the quarter.
Cable Communications reported total customer relationship net additions of 380,000, the best first-quarter result on record, with total broadband customer net additions of 461,000.
Sky total customer relationships increased by 221,000 to 23.4 million, marking the best first-quarter result in six years, despite lockdowns in Europe.
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Forward Guidance
No specific forward guidance was provided in the press release.
Revenue & Expenses
Visualization of income flow from segment revenue to net income