Comcast posted revenue of $21.2 billion (+9.8 percent), net income of $2.5 billion (+23.9 percent) and Adjusted EBITDA of $7.1 billion (+10 percent) in the second quarter of 2017.
“We delivered terrific results in the second quarter, highlighted by 10 percent growth in Adjusted EBITDA, which continued our strong progress in 2017,” said Brian L Roberts, chairman and CEO of Comcast.
Capital expenditures (Capex) of Comcast increased 2.5 percent to $2.3 billion in the second quarter of 2017.
Cable Communications’ capital expenditures rose 4 percent to $2 billion, reflecting a higher level of investment in scalable infrastructure to increase network capacity and increased investment in line extensions.
Cable capital expenditures represented 14.9 percent of Cable revenue in the second quarter of 2017 compared to 15.1 percent in last year’s second quarter.
NBCUniversal’s Capex of $338 million fell 6.1 percent, reflecting continued investment at Theme Parks more than offset by the timing of real estate and infrastructure spending.
Revenue for Cable Communications rose 5.5 percent to $13.1 billion, driven primarily by increases in high-speed Internet, video and business services revenue. High-speed Internet revenue increased 9.2 percent, driven by an increase in the number of residential high-speed Internet customers and rate adjustments.
Video revenue increased 3.9 percent, reflecting rate adjustments and an increase in the number of customers subscribing to additional services.
Business services revenue rose 12.6 percent, primarily due to increases in the number of customers receiving our small and medium-sized business services offerings. Advertising revenue decreased 2.1 percent, reflecting a decrease in political advertising revenue.
Comcast said Adjusted EBITDA for Cable Communications grew 5.4 percent to $5.3 billion, reflecting higher revenue, partially offset by 5.5 percent growth in operating expenses. The higher expenses were primarily due to 12 percent increase in video programming costs, reflecting the timing of contract renewals, as well as higher retransmission consent fees and sports programming costs.