- Comcast Corp (NASDAQ:CMCSA) reported third-quarter FY22 revenue decline of 1.5% year-on-year to $29.85 billion, beating the consensus of $29.71 billion.
- Segments: Revenue for Cable Communications rose 2.6% Y/Y to $16.54 billion, driven by increases in broadband, wireless, business services, and advertising partially offset by decreases in the video and voice revenue.
- Customer Relationships decreased by 21,000 to 34.4 million. Broadband customer net additions were 14,000, and total video customer net losses were 561,000.
- The company’s Cable Communications added 333,000 wireless lines.
- Revenue for NBCUniversal decreased 4.3% Y/Y to $9.6 billion. Revenue from Media decreased 22.7% Y/Y to $5.2 billion, reflecting lower advertising and distribution revenues, and Studios increased 31.4% Y/Y to $3.2 billion, primarily reflecting higher content licensing revenue and theatrical revenue.
- Theme Parks’ revenue increased by 42.4% to $2.1 billion due to higher attendance and increased guest spending at its parks in the U.S. and Japan.
- Revenue for Sky decreased 14.7% Y/Y to $43 billion. Total Customer Relationships increased by 320,000 to 23 million.
- Adjusted EPS of $0.96 beat the consensus of $0.90.
- Margin: Adjusted EBITDA margin of Cable Communications expanded 120 bps to 45.1%. Sky’s adjusted EBITDA margin contracted 300 bps to 16.5%.
- Comcast generated $3.4 billion in free cash flow and held $5.7 billion in cash and equivalents.
- Cable Communications’ capital expenditures were $2.0 billion, up 20.8% Y/Y, NBCUniversal’s capital expenditures increased 68.1% to $614 million, and Sky’s capital expenditures decreased 39.8% to $96 million.
- Price Action: CMCSA shares traded higher by 4.51% at $32.92 in the premarket on the last check Thursday.
Elon Musk’s $4B Tesla Stock Sale: All You Need To Know
Tesla Inc (NASDAQ:TSLA) CEO Elon Musk has sold 19.5 million shares of the automaker worth nearly $4 billion between Nov. 4 and Nov. 8, according to filings made with the U.S.
