Comcast Q1 2023 Earnings Report
Key Takeaways
Comcast reported a decrease in revenue by 4.3% to $29.691 billion, primarily due to the absence of the Beijing Olympics and Super Bowl broadcasts from the previous year. However, net income attributable to Comcast increased by 8.0% to $3.834 billion, and adjusted EPS grew by 7.0% to $0.92. The company saw growth in high-margin connectivity businesses and a significant increase in Peacock subscribers, alongside record Adjusted EBITDA for theme parks.
Consolidated Adjusted EBITDA increased by 2.9% to $9.4 billion, and Adjusted EPS increased by 7.0% to $0.92.
Peacock paid subscribers in the U.S. increased by more than 60% year-over-year to 22 million, with Peacock revenue increasing by 45% to $685 million.
Theme Parks Adjusted EBITDA increased by 46% to $658 million, driven by the opening of Super Nintendo World at Universal Studios Hollywood.
The company returned $3.2 billion to shareholders through dividends and share repurchases.
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Comcast Revenue by Segment
Comcast Revenue by Geographic Location
Forward Guidance
No specific forward guidance was provided in the press release.
Revenue & Expenses
Visualization of income flow from segment revenue to net income