Upcoming AWS Coverage on Walt Disney Post-Earnings Results

LONDON, UK / ACCESSWIRE / May 5, 2017 / Active Wall St. announces its post-earnings coverage on Comcast Corp. (NASDAQ: CMCSA). The Company posted its first quarter fiscal 2017 results on April 27, 2017. The No. 1 US cable operator surpassed top- and bottom-line expectations. Register with us now for your free membership at:

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One of Comcast's competitors within the Entertainment - Diversified space, The Walt Disney Co. (NYSE: DIS), is expected to report its fiscal quarter ending March 2017 earnings results on 05/09/2017 after market close. AWS will be initiating a research report on Walt Disney in the coming days.

Today, AWS is promoting its earnings coverage on CMCSA; touching on DIS. Get our free coverage by signing up to:

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Earnings Reviewed

For the three months ended March 31, 2017, Comcast's consolidated revenue increased 8.9% to $20.46 billion compared to revenue of $18.79 billion in Q1 2016. The Company's revenue numbers surpassed analysts' consensus of $20.12 billion. For Q1 2017, Comcast's consolidated adjusted EBITDA increased 10.4% to $7.0 billion.

For Q1 2017, consolidated net income attributable to Comcast increased 20.2% to $2.57 billion compared to net income of $2.13 billion. The Company's earnings per share (EPS) for the reported quarter were $0.53, a 23.3% increase compared to the year earlier same quarter earnings of $0.43 per share. Excluding a gain on the sale of an investment in Q1 2016, Comcast' EPS increased 26.2%. The Company's earnings numbers smashed passed Wall Street's estimates of $0.44 per share.

Segment Results

During Q1 2017, Comcast's revenue for Cable Communications increased 5.8% to $12.9 billion, driven primarily by increases in high-speed Internet, video and business services revenue. High-speed Internet revenue increased 10.1% to $3.28 billion, driven by an increase in the number of residential high-speed Internet customers and rate adjustments. Video revenue grew 4.3% to $5.54 billion, reflecting rate adjustments, an increase in the number of customers subscribing to additional services and an increase in the number of residential video customers. Business services revenue totaled $1.31 billion up 13.6% on a y-o-y basis, primarily due to an increase in the number of small business customers, as well as continued growth in the Company's medium-sized business services. Advertising revenue decreased 6.3% to $546 million, partially reflecting a decrease in political advertising revenue.

For Q1 2017, adjusted EBITDA for Cable Communications increased 6.3% to $5.2 billion in, reflecting higher revenue, partially offset by a 5.5% increase in operating expenses. The reported quarter's adjusted EBITDA margin was 40.3% compared to 40.1% in the year ago corresponding period.

During Q1 2017, Total Customer Relationships increased by 297,000 to 28.9 million. Residential customer relationships increased by 263,000, primarily driven by increases in double and single product customers. Business customer relationships increased by 34,000. For the reported quarter, total video customer net additions were 42,000, total high-speed Internet customer net additions were 429,000, total voice customer net losses were 5,000 and total security and automation customer net additions were 66,000.

Comcast's NBCUniversal revenue surged 14.7% to $7.9 billion in Q1 2017 compared to $2.45 billion in Q1 2016. The segment's adjusted EBITDA increased 24.4% to $2.0 billion, reflecting increases at Filmed Entertainment, Cable Networks, Broadcast Television, and Theme Parks. The segment's Cable Networks revenue increased 7.6% to $2.64 billion in Q1 2017, reflecting higher distribution and content licensing and other revenue, partially offset by lower advertising revenue. Cable Networks' adjusted EBITDA increased 16.8% to $1.1 billion for the reported quarter, reflecting higher revenue, partially offset by a modest increase in programming and production costs.

During Q1 2017, NBCUniversal's Broadcast Television revenue increased 5.9% to $2.21 billion, reflecting higher distribution and other, and content licensing revenue. For the reported quarter, the segment's adjusted EBITDA increased 13.4% to $322 million, reflecting higher revenue, partially offset by an increase in programming and production costs.

NBCUniversal's Filmed Entertainment revenue soared 43.2% to $1.98 billion in Q1 2017, primarily reflecting higher theatrical revenue, as well as increased other, content licensing, and home entertainment revenue. Theatrical revenue increased by $415 million to $651 million, reflecting the strong performances of Fifty Shades Darker, Get Out and Split, as well as the continued success of Sing in this year's first quarter. The unit's adjusted EBITDA increased by $201 million to $368 million in the reported quarter, reflecting higher revenue, partially offset by higher programming and production costs.

For Q1 2017, NBCUniversal's Theme Parks section reported revenue of $1.12 billion, up 9.0% on a y-o-y basis, reflecting higher attendance and per capita spending, despite an unfavorable comparison from the timing of spring break vacations. The sub-segment's adjusted EBITDA increased 6.1% to $397 million in the reported quarter, reflecting higher revenue, partially offset by an increase in operating expenses, including pre-opening costs to support new attractions opening in Orlando.

Cash Flow & Balance Sheet

During Q1 2017, Comcast reported net cash provided by operating activities of $5.7 billion. The Company's consolidate capital expenditures increased 10.2% to $2.08 billion in the reported quarter. For Q1 2017, Cable Communications' capital expenditures increased 13.0% to $1.78 billion, reflecting increased spending on customer premise equipment related to the deployment of the X1 platform and wireless gateways, a higher level of investment in scalable infrastructure to increase network capacity and increased investment in-line extensions. NBCUniversal's capital expenditures of $285 million decreased 3.3% on a y-o-y basis. Comcast's free cash flow was $3.1 billion for the reported quarter.

During Q1 2017, Comcast paid dividends totaling $657 million and repurchased 20.4 million of its common shares for $750 million. As of March 31, 2017, Comcast had $11.25 billion available under its share repurchase authorization.

Stock Performance

At the close of trading session on Thursday, May 04, 2017, Comcast's share price finished yesterday's trading session at $38.29, slightly falling 0.65%. A total volume of 17.68 million shares exchanged hands, which was higher than the 3 months average volume of 15.84 million shares. The stock has surged 25.64% and 27.86% in the last six months and past twelve months, respectively. Furthermore, since the start of the year, shares of the Company have rallied 11.37%. The stock is trading at a PE ratio of 19.97 and has a dividend yield of 1.65%.

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