Comcast 2018 revenue increases 11.1% to USD94.5bn

24 Jan 2019

US cable giant Comcast Corporation has reported consolidated revenues of USD94.5 billion for the twelve months ended 31 December 2018, up 11.1% from USD85.0 billion in 2017. Adjusted EBITDA for the period under review increased 7.9% to USD30.2 billion, while net income attributable to Comcast plummeted 48.4% on an annualised basis. Comcast notes that the consolidated figures for 2018 include the results of UK pay-TV/broadband provider Sky from 9 October 2018 to 31 December 2018; on a pro forma basis Sky’s revenue increased 2.4% to USD5.0 billion in the fourth quarter of 2018.

Of the top-line figure, Comcast’s ‘Cable Communications’ unit generated a total of USD55.1 billion in 2018, up 3.9% from USD53.1 billion one year earlier. The cable unit’s adjusted EBITDA increased 6.5% year-on-year, to USD22.4 billion. In operational terms, Comcast ended 2018 with 27.222 million broadband users, 21.986 million pay-TV subscribers, 11.449 million VoIP accounts and 1.2 million MVNO customers. Elsewhere, Sky ended 2018 with a total of 23.600 million ‘customer relationships’, following net adds of 735,000 in the twelve months under review.

Brian L. Roberts, chairman and CEO of Comcast, commented: ‘2018 was a successful and pivotal year for Comcast. I’m pleased with the strong operational and financial results that we delivered across the company … We truly became a global company with our acquisition of Sky and are excited about its future and the potential of our combined company in 2019 and beyond.’

United States, Comcast Corp (Xfinity, incl. Xfinity Mobile), Sky