Comcast Results Presentation Deck
Cable Communications 2nd Quarter 2021 Overview
Customer Relationships (M) Revenue
Per CR*
32.1
Adjusted EBITDA
5
2Q20
$6.2
$68.35
+8.9%
2Q20
+5.2%
33.8
2Q21
+14.5%
$7.1
$70.07
$14.4
2Q20
($B) Net Cash Flow
$4.4
+10.9%
$16.0
2Q21
+14.6%
$5.0
($B)
($B)
2Q21
Commentary
Customer relationships: +5.2% to 33.8M
Total customer relationship net adds of 294K; the best 2Q on record
Broadband customer net adds of 354K; the best 2Q on record
Added 280K wireless lines, best quarterly result on record
ā
Revenue: +10.9% to $16.0B; +9.3% excluding accrued customer RSN fee
adjustments in 2Q20**
Broadband: +14.3% to $5.7B; +12.6% excluding accrued customer RSN fee
adjustments in 2Q20**
Wireless: +70.4% to $556M
Video: +2.6% to $5.6B; +0.5% excluding accrued customer RSN fee
adjustments in 2Q20**
Business Services: +9.9% to $2.2B
Advertising: +58.6% to $679M; +60.4% excl. political
Adjusted EBITDA: +14.5% to $7.1B; +8.9% per customer relationship
Programming expenses +12.1%; +5.0% excluding accrued customer RSN fee
adjustments in 2Q20**
Non-programming expenses +5.7%; +0.5% per customer relationship
Wireless Adjusted EBITDA of +$68M compared to a loss of -$37M in 2Q20
Adjusted EBITDA margin improved +140bps y/y to 44.2%; +200bps
excluding accrued customer RSN fee adjustments in 2Q20**
2Q20
2Q21
All percentages represent year/year growth rates, except Adjusted EBITDA margin and Capital Expenditures as a % of Revenue.
*Represents average monthly results per customer relationship. **Cable Communications reported results for 2Q20 include the impacts of accrued customer RSN related fee adjustments. Refer to Notes page for further details.
See Notes on Slide 11
Net Cash Flow: +14.6% to $5.0B; +15.1% in 1H21
Capital expenditures +16.8% to $1.7B; represents 10.6% of Cable revenueView entire presentation