Comcast Earnings: 'Solid' Results For NBC Universal

Consolidated 2nd Quarter 2016 Highlights:

• Consolidated Revenue Increased 2.8%, Operating Income Decreased 1.0%, Operating Cash Flow Increased 3.0%
• Net Cash Provided by Operating Activities was $4.3 Billion, Free Cash Flow was $1.4 Billion
• Earnings per Share Decreased 1.2% to $0.83
• Dividends per Share Increased 10% and Share Repurchases were $1.1 billion

Cable Communications (CCMTF) 2nd Quarter 2016 Highlights:

• Cable Communications Revenue Increased 6.0% and Operating Cash Flow Increased 5.7%
• Customer Relationships Increased by 115,000, an 83,000 Improvement from the Second Quarter of 2015
• Total Revenue per Customer Relationship Increased 3.0%
• Video Customers Net Losses Improved to 4,000, the Best Second Quarter Result in Over 10 Years; Nearly 40% of All Video Customers Now Have X1
• High-Speed Internet Customers Increased by 220,000, the Best Second Quarter Result in 8 Years
• Business Services Revenue Increased 17.0%

NBCUniversal 2nd Quarter 2016 Highlights:

• Broadcast Operating Cash Flow Increased 70.5%, Reflecting Growth in Content Licensing, Retransmission and Advertising Revenues
• Theme Parks Operating Cash Flow Increased 40.5%, Primarily Reflecting the Inclusion of Universal Studios Japan, as well as the Successful Opening of The Wizarding World of Harry PotterTM in Hollywood
• Cable Networks Operating Cash Flow Increased 8.3%, Driven by Higher Affiliate Revenue

Brian Roberts

Comcast Corporation Chairman and Chief Executive Officer Brian Roberts, said, “I am pleased to report excellent results as our momentum continues across our businesses. Our Cable subscriber and financial performance during the quarter was outstanding. We more than tripled our customer relationship net additions, with our best second quarter Internet (HHH) customer results in eight years and our best second quarter video customer results in over ten years, and we successfully balanced this with strong operating cash flow growth.

"Despite an expected difficult comparison to last year's record second quarter film slate, NBCUniversal achieved solid results, driven by strength in our TV businesses and Theme Parks, which benefitted from the successful opening of The Wizarding World of Harry PotterTM in Hollywood.

"I am excited about the opportunities ahead for our company as we work together to bring people incredible technology, and memorable experiences, and there is no better example than the Olympic Games. The entire organization is gearing up to deliver the most comprehensive and innovative Olympics coverage in history starting next week, which will showcase the incredible breadth of NBCUniversal together with Comcast Cable and the X1 platform.”