NASDAQ$CMCSA

Comcast Corp · Q2 2021 earnings

Q2 2021 earnings · · Investor relations

Briefing

Comcast reported strong Q2 2021 results, driven by growth in Cable Communications and recovery in NBCUniversal's Theme Parks, and resumed its share repurchase program.

Comcast Corporation reported excellent Q2 2021 results with a 20.4% increase in revenue to $28.5 billion and a 12.6% increase in Adjusted EBITDA to $8.9 billion. Cable Communications showed exceptional performance with record broadband and customer relationship net additions. NBCUniversal's Adjusted EBITDA increased by 12.5%, fueled by the recovery at Theme Parks. The company resumed its share repurchase program and returned $1.7 billion to shareholders through share repurchases and dividend payments.

  • Consolidated Adjusted EBITDA increased 12.6% to $8.9 billion; Adjusted EPS increased 21.7% to $0.84; Free cash flow was $4.8 Billion.
  • Cable Communications total customer relationship net additions were 294,000, the best second quarter result on record; total broadband customer net additions were 354,000, the best second quarter result on record.
  • Cable Communications wireless customer line net additions were 280,000, the best quarterly result on record.
  • NBCUniversal Adjusted EBITDA increased 12.5% to $1.6 billion, including Peacock losses; Theme Parks delivered its first profitable quarter since Q1 2020.

Headline financials

Total Revenue

$28.5B

Previous: $23.7B+20.4%
EPS (adj)

$0.84

Previous: $0.69+21.7%
Customer Relationship Net Adds

294.0K

Previous: 217.0K+35.5%
Wireless Line Net Adds

280.0K

Previous: 126.0K+122.2%
Capital Expenditures

-$2.14B

Previous: -$2.08B-3.3%
Free Cash Flow

$13.2B

Previous: $12.4B+6.6%
Net Income

$3.74B

Previous: $2.99B+25.1%
Operating Income

$5.51B

Previous: $4.65B+18.5%
Gross Profit

$28.5B

Previous: $23.7B+20.4%
Cash & Equivalents

$12.4B

Previous: $13.9B-11.2%
Total Assets

$277B

Previous: $266B+4.1%
Stock-Based Comp

$338M

Previous: $323M+4.6%

Revenue & EPS history

Comcast · Revenue · Quarterly

$28.5B

Q2 2021+20.4%vs Q2 2020
Beat estimate in 12 of 16 quarters(75%)
ActualEstimate

Revenue by segment

Comcast · $24.5B total across 4 segments · Q2 2021

  • Residential Connectivity
    $16B+10.9%
  • Media
    $5.15B-15.9%
  • Studios
    $2.22B
  • Theme Parks
    $1.1B

Forward guidance

No specific forward guidance was provided in the press release.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q2 2021

Historical avgQ2 2021

+0.4%

Avg return

Earnings day

-0.2%

Avg return

5 days after

+1.1%

Avg return

30 days after

55%

40 / 73 earnings

Positive

+13.3%

Q1 2023

Best reaction

-13.5%

Q2 2022

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-0.9%-5.9%-14.2%
Q4 2025+2.8%+4.8%+9.0%
Q3 2025-5.2%-3.8%-6.4%
Q2 2025+2.2%+0.0%+4.5%
Q1 2025-3.7%-1.5%+0.1%
Q4 2024-11.0%-10.2%-4.0%
Q3 2024+3.1%+0.8%+2.2%
Q2 2024-3.6%+0.4%-0.3%
Q1 2024-4.1%-5.2%-4.2%
Q4 2023+5.6%+6.5%-4.3%
Q3 2023-7.3%-3.4%-0.4%
Q2 2023+5.4%+5.6%+6.0%
Q1 2023+13.3%+12.8%+8.1%
Q4 2022-1.2%-1.9%-7.7%
Q3 2022+1.4%+0.2%+13.2%
Q2 2022-13.5%-13.1%-15.1%
Q1 2022-10.6%-9.2%-0.7%
Q4 2021+2.6%+3.1%-2.9%
Q3 2021-1.9%+0.4%-2.6%
Q2 2021+1.5%+0.4%+2.4%
Q1 2021+3.8%+4.7%+6.0%
Q4 2020+2.4%+5.7%+8.9%
Q3 2020+0.6%+1.5%+23.3%
Q2 2020-2.5%-1.6%+1.5%
Q1 2020-5.2%-7.6%+1.5%
Q4 2019-6.0%-7.2%-3.4%
Q3 2019-0.2%-0.8%-2.0%
Q2 2019-0.5%-1.8%-5.4%
Q1 2019+2.9%+4.0%+2.0%
Q4 2018+3.6%+1.1%+10.4%
Q3 2018+3.3%+10.5%+9.6%
Q2 2018+5.0%+7.1%+9.2%
Q1 2018-0.1%-5.9%-4.8%
Q4 2017-0.7%-1.1%-6.9%
Q3 2017-0.1%-2.2%-2.6%
Q2 2017+0.4%+2.5%+2.2%
Q1 2017+1.0%+1.4%+5.5%
Q4 2016+3.4%+2.7%+3.2%
Q3 2016-4.7%-4.2%+7.2%
Q2 2016+1.0%+0.5%-2.5%
Q1 2016+0.2%
Q4 2015+6.6%
Q3 2015-0.4%
Q2 2015-3.6%
Q1 2015-0.8%
Q4 2014+2.4%
Q3 2014+0.8%
Q2 2014+1.7%
Q1 2014+2.7%
Q4 2013+1.1%
Q3 2013-0.3%
Q2 2013+7.3%
Q1 2013+2.0%
Q4 2012+3.9%
Q3 2012+3.2%
Q2 2012+4.9%
Q1 2012-0.8%
Q4 2011-0.3%
Q3 2011+1.5%
Q2 2011-4.1%
Q1 2011-2.0%
Q4 2010+3.3%
Q3 2010+6.2%
Q2 2010-0.9%
Q1 2009+8.3%
Q1 2010+8.3%
Q4 2007+1.4%
Q2 2009+1.4%
Q4 2009+1.4%
Q3 2009-2.2%
Q3 2008-2.2%
Q4 2008-0.7%
Q2 2008-0.7%

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