Thu, Apr 24, 7:15 PM (29 days ago)
**Comcast Corporation (CMCSA) Q1 2025 Financial Summary** **Financial Health and Performance:** - **Revenue:** $29.89 billion, down 0.6% YoY. - **Net Income:** $3.296 billion, down 12.7% YoY. - **Operating Income:** $5.658 billion, down 2.6% YoY. - **Adjusted EBITDA:** $9.532 billion, up 1.9% YoY. - **Profit Margins:** Operating margin at 19.0%, down from 19.3% YoY. Net margin at 11.0%, down from 12.6% YoY. - **Cash Flow:** Operating cash flow at $8.294 billion, up from $7.848 billion YoY. Free cash flow at $5.036 billion, up from $4.318 billion YoY. **Segment Performance:** - **Connectivity & Platforms:** Revenue down 0.7% YoY to $20.138 billion. Adjusted EBITDA up 1.5% YoY to $8.340 billion. - **Residential Connectivity & Platforms:** Revenue down 1.3% YoY to $17.642 billion. Adjusted EBITDA up 1.0% YoY to $6.918 billion. - **Business Services Connectivity:** Revenue up 3.7% YoY to $2.496 billion. Adjusted EBITDA up 4.1% YoY to $1.422 billion. - **Content & Experiences:** Revenue up 0.8% YoY to $10.457 billion. Adjusted EBITDA flat at $1.490 billion. - **Media:** Revenue up 1.1% YoY to $6.440 billion. Adjusted EBITDA up 21.5% YoY to $1.004 billion. - **Studios:** Revenue up 3.0% YoY to $2.826 billion. Adjusted EBITDA up 22.3% YoY to $298 million. - **Theme Parks:** Revenue down 5.2% YoY to $1.876 billion. Adjusted EBITDA down 32.1% YoY to $429 million. **Trends and Uncertainties:** - **Customer Metrics:** Domestic broadband customers down 199,000 YoY. Domestic wireless lines up 323,000 YoY. Domestic video customers down 427,000 YoY. - **Future Operations:** Comcast is targeting to complete the spin-off of select domestic cable television networks by the end of 2025. The company is also investing in network expansion and higher-speed broadband offerings. - **Uncertainties:** Economic conditions, regulatory changes, and competitive dynamics pose risks to Comcast's operations and financial performance. **Notable Items:** - **Acquisitions:** Comcast acquired Nitel, a network-as-a-service managed service provider, for $1.3 billion in April 2025. - **Share Repurchases:** Comcast repurchased 56.2 million shares for $2.0 billion in Q1 2025. - **Dividends:** Comcast paid dividends of $1.2 billion in Q1 2025 and increased its annual dividend by 6.5% to $1.32 per share.