US cable giant Comcast Corporation has reported consolidated revenues of USD27.2 billion for the three months ended 31 March 2021, up 2.2% year-on-year. Adjusted EBITDA for the period under review increased 3.5% to USD8.4 billion, while adjusted net income climbed 8.1% on an annualised basis, to USD3.5 billion. Of the top-line figure, Comcast’s ‘Cable Communications’ unit generated a total of USD15.8 billion in 1Q21 (up 5.9%), while the cable unit’s adjusted EBITDA increased 12.4% y-o-y, to USD6.8 billion.
In operational terms, Comcast ended 31 March 2021 with 31.034 million broadband users, 19.355 million pay-TV subscribers, 10.896 million VoIP accounts and 3.103 million MVNO customers. Elsewhere, Comcast’s UK subsidiary Sky ended 1Q21 with a total of 23.446 million ‘customer relationships’, following a net increase of 221,000 in the period under review.
Brian L. Roberts, chairman and CEO of Comcast, commented: ‘We are off to a great start in 2021. Our entire company performed well across the board, highlighted by another strong performance from cable, which posted its third consecutive quarter of double-digit Adjusted EBITDA growth, while adding the most quarterly customer relationships in our company’s history … At Sky, customer relationship additions increased by 221,000, marking the best first quarter result in six years despite the lockdowns imposed throughout Europe.’