Comcast Results Presentation Deck slide image

Comcast Results Presentation Deck

Cable Communications 4th Quarter 2022 Overview Customer Relationships (M) Revenue 34.2 6 4Q21 Adjusted EBITDA $7.1 4Q21 +0.2% 34.3 4Q22 +1.5%; +5.8% ex. severance* $7.2 4Q22 $16.4 4Q21 ($B) Net Cash Flow $4.5 4Q21 +1.4% $16.6 4Q22 $4.4 ($B) (1.6%) ; +5.1% ex. severance* 4Q22 ($B) Commentary Customer relationships of 34.3M were consistent with 4Q21 Total customer relationship net losses of 71K in 4Q22; net additions of 75K in FY22 O Ex. Hurricane lan impacts, we estimate we would have lost 36K CRs in 4Q22 Broadband customer net losses of 26K in 4Q22; 250K net additions in FY22 Ex. Hurricane lan impacts, we estimate we would have added 4K broadband customers in 4Q22 Added 365K wireless lines, a record high; 1.3M in FY22 ā— All percentages represent year/year growth rates, except Adj. EBITDA margin and Capital Expenditures as a % of Revenue. *Reported results for 4Q22 include increased severance costs. Refer to Notes page for further details. See Notes on Slide 12 Revenue: +1.4% to $16.6B - O - Broadband: +5.4% to $6.2B Wireless: +24.7% to $883M Business Services: +4.6% to $2.4B Advertising: +9.1% to $892M Video: (5.6%) to $5.1B Adjusted EBITDA: +1.5% to $7.2B; +5.8% ex. severance* Programming expenses: (5.9%); Non-programming expenses: +5.6%, reflecting higher severance expense Adjusted EBITDA margin improved +10 bps y/y to 43.5% O Excluding severance*, 4Q22 Adjusted EBITDA margin improved +190 bps y/y to a record high 45.3% and FY22 Adjusted EBITDA margin improved +110 bps y/y to 44.8% Net Cash Flow: (1.6%) to $4.4B; +5.1% ex. severance* 4Q22 Capital expenditures: +9.7% to $2.4B, representing 14.4% of Cable revenue FY22 Capital expenditures: +9.2% to $7.6B, representing 11.4% of Cable revenue
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