Comcast Files 10-Q for Q2 2024

TL;DR

**Comcast Q2 10-Q filed. Financials look steady.**

AI Summary

Comcast Corporation filed its 10-Q for the period ending June 30, 2024. The filing details financial performance and operational updates for the second quarter of 2024. Key financial data and segment performance are presented, reflecting the company's ongoing business activities in cable and other pay television services.

Why It Matters

This filing provides investors with crucial financial data and insights into Comcast's performance during the second quarter of 2024, impacting investment decisions.

Risk Assessment

Risk Level: low — This is a routine quarterly filing providing standard financial disclosures.

Key Numbers

• 20240630 — Period End Date (The end of the reporting period for this 10-Q filing.)
• 20240723 — Filing Date (The date this 10-Q filing was submitted to the SEC.)

Key Players & Entities

• COMCAST CORP (company) — Filer
• 20240630 (date) — Period of Report
• 20240723 (date) — Filing Date
• PA (location) — State of Incorporation
• 4841 (number) — Standard Industrial Classification

FAQ

Key Financial Figures

• $0.01 — which registered Class A Common Stock, $0.01 par value CMCSA The Nasdaq Stock Market

Filing Documents

• cmcsa-20240630.htm (10-Q) — 1681KB
• ex102-6302024.htm (EX-10.2) — 96KB
• ex103-6302024.htm (EX-10.3) — 98KB
• ex31-6302024.htm (EX-31) — 18KB
• ex32-6302024.htm (EX-32) — 6KB
• cmcsa-20240630_g1.jpg (GRAPHIC) — 32KB
• 0001166691-24-000048.txt ( ) — 6628KB
• cmcsa-20240630.xsd (EX-101.SCH) — 38KB
• cmcsa-20240630_cal.xml (EX-101.CAL) — 73KB
• cmcsa-20240630_def.xml (EX-101.DEF) — 159KB
• cmcsa-20240630_lab.xml (EX-101.LAB) — 405KB
• cmcsa-20240630_pre.xml (EX-101.PRE) — 270KB
• cmcsa-20240630_htm.xml (XML) — 974KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements 1 Condensed Consolidated Statements of Income (Unaudited) 1 Condensed Consolidated Statements of Comprehensive Income (Unaudited) 2 Condensed Consolidated Statements of Cash Flows (Unaudited) 3 Condensed Consolidated Balance Sheets (Unaudited) 4 Condensed Consolidated Statements of Changes in Equity (Unaudited) 5 Notes to Condensed Consolidated Financial Statements (Unaudited) 6 Note 1: Condensed Consolidated Financial Statements 6 Note 2: Segment Information 7 Note 3: Revenue 9 Note 4: Programming and Production Costs 10 Note 5: Debt 10 Note 6: Investments and Variable Interest Entities 11 Note 7: Equity and Share-Based Compensation 1 2 Note 8: Supplemental Financial Information 1 3 Note 9: Commitments and Contingencies 1 3

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 14

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 30

Controls and Procedures

Item 4. Controls and Procedures 30

OTHER INFORMATION

PART II. OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 31

Risk Factors

Item 1A. Risk Factors 31

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 31

Exhibits

Item 6. Exhibits 31

SIGNATURES

SIGNATURES 32 Explanatory Note This Quarterly Report on Form 10-Q is for the three and six months ended June 30, 2024. This Quarterly Report on Form 10-Q modifies and supersedes documents filed before it. The U.S. Securities and Exchange Commission ("SEC") allows us to "incorporate by reference" information that we file with it, which means that we can disclose important information to you by referring you directly to those documents. Information incorporated by reference is considered to be part of this Quarterly Report on Form 10-Q. In addition, information that we file with the SEC in the future will automatically update and supersede information contained in this Quarterly Report on Form 10-Q. Unless indicated otherwise, throughout this Quarterly Report on Form 10-Q, we refer to Comcast and its consolidated subsidiaries as "Comcast," "we," "us" and "our." Numerical information in this report is presented on a rounded basis using actual amounts. Minor differences in totals and percentage calculations may exist due to rounding. CAUTION CONCERNING FORWARD-LOOKING STATEMENTS This Quarterly Report on Form 10-Q includes statements that may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are not historical facts or statements of current conditions, but instead represent only our beliefs regarding future events, many of which, by their nature, are inherently uncertain and outside of our control. These may include estimates, projections and statements relating to our business plans, objectives and expected operating results, which are based on current expectations and assumptions that are subject to risks and uncertainties that may cause actual results to differ materially. These forward-looking statements are generally identified by the words "believe," "project," "expect

: FINANCIAL INFORMATION

PART I: FINANCIAL INFORMATION

: FINANCIAL STATEMENTS

ITEM 1: FINANCIAL STATEMENTS Comcast Corporation Condensed Consolidated Statements of Income (Unaudited) Three Months Ended June 30, Six Months Ended June 30, (in millions, except per share data) 2024 2023 2024 2023 Revenue $ 29,688 $ 30,513 $ 59,746 $ 60,205 Costs and Expenses: Programming and production 7,961 8,849 16,784 17,853 Marketing and promotion 1,922 2,100 3,940 4,063 Other operating and administrative 9,630 9,317 19,487 18,618 Depreciation 2,153 2,195 4,328 4,459 Amortization 1,387 1,343 2,762 2,856 Total costs and expenses 23,053 23,804 47,301 47,849 Operating income 6,635 6,709 12,445 12,355 Interest expense ( 1,026 ) ( 998 ) ( 2,028 ) ( 2,007 ) Investment and other income (loss), net ( 434 ) 15 ( 137 ) 622 Income before income taxes 5,175 5,726 10,280 10,970 Income tax expense ( 1,336 ) ( 1,537 ) ( 2,663 ) ( 3,013 ) Net income 3,839 4,189 7,616 7,957 Less: Net income (loss) attributable to noncontrolling interests ( 89 ) ( 59 ) ( 169 ) ( 126 ) Net income attributable to Comcast Corporation $ 3,929 $ 4,248 $ 7,785 $ 8,082 Basic earnings per common share attributable to Comcast Corporation shareholders $ 1.01 $ 1.02 $ 1.98 $ 1.93 Diluted earnings per common share attributable to Comcast Corporation shareholders $ 1.00 $ 1.02 $ 1.97 $ 1.92 See accompanying notes to condensed consolidated financial statements. 1 Table of Contents Comcast Corporation Condensed Consolidated Statements of Comprehensive Income (Unaudited) Three Months Ended June 30, Six Months Ended June 30, (in millions) 2024 2023 2024 2023 Net income $ 3,839 $ 4,189 $ 7,616 $ 7,957 Other comprehensive income (loss), net of tax (expense) benefit: Currency translation adjustments, net of deferred taxes of $( 22 ), $( 20 ), $( 43 ) and $( 22 ) ( 130 ) 490 ( 567 ) 1,268 Cash flow hedges: Deferred gains (losses), net of deferred taxes of $ 0 , $ 14 , $( 2 ), and $ 23 6 ( 7 ) 25 ( 22 ) Realized (gains) losses reclassified to net income, net of defe

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View this 10-Q filing on SEC EDGAR