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Comcast's (CMCSA) Q4 Earnings Beat, Internet User Base Rises
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Comcast (CMCSA - Free Report) reported fourth-quarter 2020 adjusted earnings of 56 cents per share, beating the Zacks Consensus Estimate by 14.3%, but decreasing 29.1% year over year.
Consolidated revenues slid 2.4% year over year to $27.71 billion but beat the Zacks Consensus Estimate by 3.5%.
Cable Communication Revenue Details
Revenues increased 6.3% from the year-ago quarter to $15.71 billion. Total Customer Relationships increased 455K to 33.14 million.
High-speed Internet revenues grew 12.7% year over year to $5.40 billion, primarily driven by increased residential high-speed Internet customers and average rate. Total high-speed Internet customer net additions were 538K.
Comcast Corporation Price, Consensus and EPS Surprise
Business Services revenues were up 4.8% to $2.10 billion, driven by customer-base expansion and higher average rates.
Wireless revenues jumped 35.8% to $505 million, supported by an increase in the number of customer lines. Comcast added 246K wireless lines in the reported quarter.
Advertising revenues increased 33.8% year over year to $935 million, primarily driven by an increase in political advertising revenues.
Voice revenues were $880 million, down 6.8% year over year due to a declining number of residential voice customers.
Video revenues slipped 0.7% to $5.47 billion, reflecting a decline in the residential video customer count.
Total video customer net losses were 248K while total voice customer net losses were 24K.
Other revenues decreased 7.5% from the year-ago quarter to $421 million, owing to lower security and automation services revenues as well as waived late fees.
NBCUniversal Revenues Decrease Y/Y
Revenues declined 18.1% year over year to $7.50 billion.
Cable Networks’ revenues dipped 6.4% from the year-ago quarter to $2.74 billion.
Broadcast Television revenues decreased 12% from the year-ago quarter to $2.78 billion.
Filmed Entertainment revenues decreased 8.3% from the year-ago quarter to $1.43 billion. Theatrical revenues fell 70% from the year-ago quarter.
Theme Parks revenues were $579 million, down 62.9% year over year. Universal Orlando Resort and Universal Studios Japan operated with limited capacity, while Universal Studios Hollywood remains closed.
Sky Revenue Details
Sky’s revenues increased 3.3% year over year to $5.21 billion. At constant currency (cc), revenues declined0.9%.
Direct-to-consumer revenues were up 1.4% (down 2.8% at cc) from the year-ago quarter to $4.08 billion.
Content revenues increased 14.8% (up 10.4% at cc) to $426 million.
Advertising revenues climbed 8.5% (up 3.9% at cc) from the year-ago quarter to $702 million.
Total Customer Relationships increased 244K to 23.939 million in the reported quarter.
Operating Details
Consolidated programming & production costs increased 1.5% from the year-ago quarter to $9.44 billion.
Consolidated adjusted EBITDA fell 14.8% from the year-ago quarter to $7.19 billion.
Segment-wise, Cable Communications’ adjusted EBITDA rose 12.3% from the year-ago quarter to $6.61 billion. Cable Communications results include a loss of $60 million from the wireless business compared with a loss of $116 million in the year-ago quarter.
NBCUniversal’s adjusted EBITDA decreased 20.7% from the year-ago quarter to $1.60 billion, reflecting a significant decline in Theme Parks (down 102.3%) and Broadcast Television (down 24.3%), partially offset by growth in Cable Networks (up 22.4%) and Filmed Entertainment (up 65.2%)-adjusted EBITDA.
Sky’s adjusted EBITDA declined 81.8% year over year (down 82.3% at cc) to $139 million. Notably, Sky’s operating costs and expenses increased 18.5% (up13.4% at cc) to $5.07 billion.
Consolidated operating income declined 25.3% year over year to $3.92 billion.
Cash Flow & Liquidity
As of Dec 31, 2020, cash and cash equivalents were $11.74 billion, down from $13.71 billion as of Sep 30, 2020.
Moreover, as of Dec 31, 2020, consolidated total debt was $103.76 billion, compared with $104.42 billion as of Sep 30, 2020.
In fourth-quarter 2020, Comcast generated cash from operations of $5.04 billion, down 19.1% year over year. Free cash flow was $2.29 billion in the reported quarter, down 31.6% year over year.
Dividends paid out in 2020 were worth $4.1 billion. Comcast increased dividend by 9% year over year to $1 per share.
Zacks Rank & Stocks to Consider
Currently, Comcast carries a Zacks Rank #3 (Hold).
News Corporation, Take Two and Fox are set to release their quarterly results on Feb 4, 8 and 9, respectively.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by referendums and legislation, this industry is expected to blast from an already robust $17.7 billion in 2019 to a staggering $73.6 billion by 2027. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
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Comcast's (CMCSA) Q4 Earnings Beat, Internet User Base Rises
Comcast (CMCSA - Free Report) reported fourth-quarter 2020 adjusted earnings of 56 cents per share, beating the Zacks Consensus Estimate by 14.3%, but decreasing 29.1% year over year.
Consolidated revenues slid 2.4% year over year to $27.71 billion but beat the Zacks Consensus Estimate by 3.5%.
Cable Communication Revenue Details
Revenues increased 6.3% from the year-ago quarter to $15.71 billion. Total Customer Relationships increased 455K to 33.14 million.
High-speed Internet revenues grew 12.7% year over year to $5.40 billion, primarily driven by increased residential high-speed Internet customers and average rate. Total high-speed Internet customer net additions were 538K.
Comcast Corporation Price, Consensus and EPS Surprise
Comcast Corporation price-consensus-eps-surprise-chart | Comcast Corporation Quote
Business Services revenues were up 4.8% to $2.10 billion, driven by customer-base expansion and higher average rates.
Wireless revenues jumped 35.8% to $505 million, supported by an increase in the number of customer lines. Comcast added 246K wireless lines in the reported quarter.
Advertising revenues increased 33.8% year over year to $935 million, primarily driven by an increase in political advertising revenues.
Voice revenues were $880 million, down 6.8% year over year due to a declining number of residential voice customers.
Video revenues slipped 0.7% to $5.47 billion, reflecting a decline in the residential video customer count.
Total video customer net losses were 248K while total voice customer net losses were 24K.
Other revenues decreased 7.5% from the year-ago quarter to $421 million, owing to lower security and automation services revenues as well as waived late fees.
NBCUniversal Revenues Decrease Y/Y
Revenues declined 18.1% year over year to $7.50 billion.
Cable Networks’ revenues dipped 6.4% from the year-ago quarter to $2.74 billion.
Broadcast Television revenues decreased 12% from the year-ago quarter to $2.78 billion.
Filmed Entertainment revenues decreased 8.3% from the year-ago quarter to $1.43 billion. Theatrical revenues fell 70% from the year-ago quarter.
Theme Parks revenues were $579 million, down 62.9% year over year. Universal Orlando Resort and Universal Studios Japan operated with limited capacity, while Universal Studios Hollywood remains closed.
Sky Revenue Details
Sky’s revenues increased 3.3% year over year to $5.21 billion. At constant currency (cc), revenues declined0.9%.
Direct-to-consumer revenues were up 1.4% (down 2.8% at cc) from the year-ago quarter to $4.08 billion.
Content revenues increased 14.8% (up 10.4% at cc) to $426 million.
Advertising revenues climbed 8.5% (up 3.9% at cc) from the year-ago quarter to $702 million.
Total Customer Relationships increased 244K to 23.939 million in the reported quarter.
Operating Details
Consolidated programming & production costs increased 1.5% from the year-ago quarter to $9.44 billion.
Consolidated adjusted EBITDA fell 14.8% from the year-ago quarter to $7.19 billion.
Segment-wise, Cable Communications’ adjusted EBITDA rose 12.3% from the year-ago quarter to $6.61 billion. Cable Communications results include a loss of $60 million from the wireless business compared with a loss of $116 million in the year-ago quarter.
NBCUniversal’s adjusted EBITDA decreased 20.7% from the year-ago quarter to $1.60 billion, reflecting a significant decline in Theme Parks (down 102.3%) and Broadcast Television (down 24.3%), partially offset by growth in Cable Networks (up 22.4%) and Filmed Entertainment (up 65.2%)-adjusted EBITDA.
Sky’s adjusted EBITDA declined 81.8% year over year (down 82.3% at cc) to $139 million. Notably, Sky’s operating costs and expenses increased 18.5% (up13.4% at cc) to $5.07 billion.
Consolidated operating income declined 25.3% year over year to $3.92 billion.
Cash Flow & Liquidity
As of Dec 31, 2020, cash and cash equivalents were $11.74 billion, down from $13.71 billion as of Sep 30, 2020.
Moreover, as of Dec 31, 2020, consolidated total debt was $103.76 billion, compared with $104.42 billion as of Sep 30, 2020.
In fourth-quarter 2020, Comcast generated cash from operations of $5.04 billion, down 19.1% year over year. Free cash flow was $2.29 billion in the reported quarter, down 31.6% year over year.
Dividends paid out in 2020 were worth $4.1 billion. Comcast increased dividend by 9% year over year to $1 per share.
Zacks Rank & Stocks to Consider
Currently, Comcast carries a Zacks Rank #3 (Hold).
Fox Corporation (FOXA - Free Report) , News Corporation (NWSA - Free Report) and Take Two Software (TTWO - Free Report) are some better-ranked stocks in the broader Consumer & Discretionary sector, all three carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
News Corporation, Take Two and Fox are set to release their quarterly results on Feb 4, 8 and 9, respectively.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by referendums and legislation, this industry is expected to blast from an already robust $17.7 billion in 2019 to a staggering $73.6 billion by 2027. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
See the pot stocks we're targeting >>