US cable giant Comcast Corporation has reported consolidated revenues of USD26.9 billion for the three months ended 31 March 2019, up 17.9% from USD22.8 billion in 1Q18. Adjusted EBITDA for the period under review increased 18.1% to USD8.6 billion, while net income attributable to Comcast climbed 14.0% on an annualised basis, to USD3.6 billion.
Of the top-line figure, Comcast’s ‘Cable Communications’ unit generated a total of USD14.3 billion in 1Q19, up 4.2% year-on-year. The cable unit’s adjusted EBITDA increased 9.8% year-on-year, to USD5.7 billion. UK pay-TV/broadband provider Sky – which has been fully consolidated by Comcast since 9 October 2018 – generated revenue of USD4.8 billion in the period under review, alongside Adjusted EBITDA of USD663 million.
In operational terms, Comcast ended 1Q19 with 27.598 million broadband users, 21.865 million pay-TV subscribers, 11.396 million VoIP accounts and 1.405 million MVNO customers. Elsewhere, Sky ended March 2019 with a total of 23.712 million ‘customer relationships’, following net adds of 112,000 in the quarter under review.
Brian L. Roberts, chairman and CEO of Comcast, commented: ‘Comcast is off to a terrific start in 2019, financially, operationally and strategically. In the first quarter, we delivered strong EBITDA and earnings per share growth, as well as robust free cash flow … Now with the inclusion of Sky, we grew customer relationships by 3.6% year-over-year, including 400,000 net additions in the first quarter, reaching over 54 million relationships in total.’