Comcast (CMCSA) reported Q2 EPS of $1.01, $0.09 better than the analyst estimate of $0.92. Revenue for the quarter came in at $30.02 billion versus the consensus estimate of $29.89 billion.
“Our financial results in the second quarter were very strong across the board, with Cable, NBCUniversal, and Sky each delivering solid growth in adjusted EBITDA, resulting in a double-digit increase in adjusted earnings per share and healthy free cash flow generation. Significantly we accomplished this while also continuing to invest in our businesses’ future growth, increasing our return of capital to our shareholders, and keeping our balance sheet in a great place. In Cable, we achieved our highest adjusted EBITDA margin on record even amid a unique and evolving macroeconomic environment that is temporarily putting pressure on the volume of our new customer connects. At NBCUniversal, terrific results at theme parks fueled our growth in the quarter, and we expect our recent premieres and planned slate of content and live events from our media and studios businesses, including Jurassic World: Dominion, Minions: The Rise of Gru, Nope, Sunday Night Football and The World Cup, to make significant contributions later this year, including to our subscriber growth at Peacock. And, at Sky, we grew adjusted EBITDA by double-digits, with year-over-year improvement in each of our markets in Europe. Looking ahead, our company is in an enviable strategic and financial position, with substantial cash flow generation and a strong foundation for innovation," commented Brian L. Roberts, Chairman and Chief Executive Officer of Comcast Corporation (NASDAQ:CMCSA).