Loading...
•
Jun 30, 2024
Comcast Q2 2024 Earnings Report
Comcast's Q2 2024 performance saw mixed results with revenue declining slightly, but adjusted EPS increasing, driven by growth in connectivity businesses and improved performance at Peacock.
Key Takeaways
Comcast reported a slight decrease in revenue for Q2 2024, but saw an increase in adjusted EPS. The connectivity and platforms sector showed growth, with a record-high adjusted EBITDA margin. Media also returned to adjusted EBITDA growth, driven by Peacock's improved performance. However, Studios and Theme Parks faced difficult comparisons to the previous year.
Adjusted EPS increased by 7.0% to $1.21.
Connectivity & Platforms adjusted EBITDA margin increased to a record 41.9%.
Domestic broadband average rate per customer increased by 3.6%, driving domestic broadband revenue growth of 3.0% to $6.6 billion.
Peacock paid subscribers increased 38% to 33 million, with revenue increasing 28% to $1.0 billion.
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
Comcast anticipates growth opportunities through innovation and collaboration, leveraging advanced technology and expertise. Upcoming film and TV content, along with the debut of Epic Universe, are expected to contribute positively to future performance. The Paris Summer Olympics is also expected to be a significant event.
Positive Outlook
- Growth in Adjusted EPS.
- Expansion of Adjusted EBITDA margin across Connectivity & Platforms.
- Media returned to Adjusted EBITDA growth, driven by Peacock.
- Upcoming film and TV content releases.
- Debut of Epic Universe theme park.
Challenges Ahead
- Revenue decreased by 2.7%.
- Net Income Attributable to Comcast decreased 7.5%.
- Adjusted EBITDA decreased 0.7%.
- Earnings per Share (EPS) decreased 1.3%.
- Free Cash Flow decreased 60.9%.
Revenue & Expenses
Visualization of income flow from segment revenue to net income