Tue, Jul 23, 5:30 PM (46 days ago)
For the quarter ending June 30, 2024, Comcast Corporation reported a decline in revenue to $29.7 billion, down 2.7% year-over-year, primarily due to decreases in the Content & Experiences business. Operating income was relatively stable at $6.6 billion, though net income attributable to Comcast dropped by 7.5% to $3.9 billion. The company saw a reduction in programming and production costs by 10%, while marketing and promotion expenses decreased by 8.5%. Cash flow from operations was $12.6 billion, down from $14.4 billion in the prior year, with capital expenditures decreasing to $5.4 billion. Comcast repurchased 112 million shares for $4.6 billion and paid $2.4 billion in dividends. The company highlighted uncertainties in consumer behavior and competitive pressures affecting future operations.