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.’