Comcast 1Q20 revenues down 0.9% to USD26.6bn

1 May 2020

US cable giant Comcast Corporation has reported consolidated revenues of USD26.6 billion for the three months ended 31 March 2020, down 0.9% from USD26.9 billion in 1Q19. Adjusted EBITDA for the period under review decreased 4.9% to USD8.1 billion, while net income attributable to Comcast plummeted 39.6% on an annualised basis, to USD2.1 billion.

Of the top-line figure, Comcast’s ‘Cable Communications’ unit generated a total of USD14.9 billion in 1Q20, up 4.5% year-on-year. The cable unit’s adjusted EBITDA increased 6.1% year-on-year, to USD6.1 billion. UK pay-TV/broadband provider Sky – which has been fully consolidated by Comcast since October 2018 – generated revenue of USD4.5 billion in the period under review (-5.8% y-o-y), alongside adjusted EBITDA of USD551 million (-16.9% y-o-y).

In operational terms, Comcast ended 1Q20 with 29.106 million broadband users, 20.845 million pay-TV subscribers, 11.187 million VoIP accounts and 2.267 million MVNO customers. Elsewhere, Sky ended March 2020 with a total of 23.930 million ‘customer relationships’, following a net decrease of 65,000 in the quarter under review.

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