Loading...
•
Jun 30, 2020
Comcast Q2 2020 Earnings Report
Comcast's Q2 2020 performance reflected resilience amidst COVID-19 challenges with record cable customer additions and the successful launch of Peacock.
Key Takeaways
Comcast Corporation reported a decrease in revenue by 11.7% to $23.7 billion for the second quarter of 2020. Net income attributable to Comcast decreased by 4.4% to $3.0 billion, and adjusted EBITDA decreased by 9.1% to $7.9 billion. The company saw strong performance in its Cable Communications segment, driven by high-speed internet customer additions, and successfully launched Peacock, its new streaming service.
Consolidated Adjusted EBITDA was $7.9 billion, with Adjusted EPS at $0.69 and Free Cash Flow at $6.0 billion.
Cable Communications added 217,000 customer relationships, marking a record second quarter result.
High-speed internet customer net additions totaled 323,000, the best second quarter result in 13 years.
Peacock was successfully launched, reaching 10 million sign-ups to date.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Comcast did not provide specific forward guidance in this earnings report. The report highlights confidence in navigating COVID-19 impacts and emerging stronger.
Positive Outlook
- Strong customer relationship net additions in Cable Communications.
- Record second quarter high-speed internet net additions.
- Successful launch of Peacock streaming service.
- Sky's high customer retention rate.
- Return of key sports events boosting Sky's performance.
Challenges Ahead
- Overall revenue decline due to COVID-19 impacts.
- Decreased advertising revenue across multiple segments.
- Theme park revenue significantly impacted by closures.
- Decline in video subscribers.
- Unfavorable impact from gambling advertisement legislation in the UK and Italy.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...