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Mar 31, 2023
Comcast Q1 2023 Earnings Report
Comcast's Q1 2023 earnings were released, showing mixed results with revenue decline but increased profitability and subscriber growth in key areas.
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.
Comcast
Comcast
Comcast Revenue by Segment
Comcast Revenue by Geographic Location
Revenue by Segment
Residential Connectivity Revenue
CapyFin.comBusiness Services Revenue
CapyFin.comMedia Revenue
CapyFin.comStudios Revenue
CapyFin.comTheme Parks Revenue
CapyFin.comRevenue by Geographic Location
United States Revenue
CapyFin.com Forward Guidance
No specific forward guidance was provided in the press release.
Revenue & Expenses
Visualization of income flow from segment revenue to net income