PHILADELPHIA – January 30, 2025… Comcast Corporation (NASDAQ: CMCSA) today reported results for the quarter ended December 31, 2024. “We had the best financial performance in our company’s 60-year history with record revenue, EBITDA and EPS along with significant free cash flow,” said Brian L. Roberts, Chairman and Chief Executive Officer of Comcast Corporation. “Driving these results were the many accomplishments our teams have made across our six growth businesses, including 5% connectivity revenue growth in an intensely competitive environment, another 1.2 million mobile line additions, and a 5% increase in revenue for Business Services. We also had strong performance from our Studios, where we ranked #2 in worldwide box office, and at Peacock, where we delivered revenue growth of 46%, fueled by a diverse slate of sports and entertainment content, including the incredibly successful Paris Olympics. Looking ahead to 2025, we are excited about our Comcast Business acquisition of Nitel, the opening of Epic Universe and bringing the NBA and WNBA back to NBC and on Peacock. We’re positioning our company for the future, and the Board’s confidence in our path forward is underscored by today’s announcement that we are increasing our dividend for the 17th consecutive year.”
4th Quarter and Full Year 2024 Highlights:
- Consolidated Adjusted EBITDA Increased 9.9% in the Fourth Quarter and Increased 1.2% for the Full Year; Adjusted EPS in the Fourth Quarter Increased 14% to $0.96 and Increased 9.0% to $4.33 for
the Full Year; Generated Free Cash Flow of $3.3 Billion in the Fourth Quarter and $12.5 Billion for the Full Year - Returned $3.2 Billion to Shareholders in the Fourth Quarter Through a Combination of $1.2 Billion in Dividend Payments and $2.0 Billion in Share Repurchases. Total Return of Capital to Shareholders for the Full Year Was $13.5 Billion, Including $8.6 Billion in Share Repurchases, Reducing Shares Outstanding by 5%
- Increased Dividend by $0.08, or 6.5% Year-over-Year, to $1.32 per Share on an Annualized Basis for 2025, the 17th Consecutive Annual Increase; Increased Share Repurchase Authorization to $15 Billion
- At Connectivity & Platforms, Connectivity Revenue Increased 4.9% to $11.5 Billion in the Fourth Quarter and 5.7% to $45.1 Billion for the Full Year, Reflecting Growth in Domestic Broadband, Domestic Wireless, International Connectivity and Business Services Connectivity
- Peacock Revenue Increased 28% to $1.3 Billion in the Fourth Quarter and 46% to $4.9 Billion for the Full Year Compared to the Prior Year Periods; Adjusted EBITDA Losses Improved by Nearly $1 Billion for the Full Year
- NBC Sports Delivered Its Most-Watched Year Since 2016, Highlighted by Our Innovative Broadcast of the Paris Olympics and Peacock’s First-Ever Exclusive Live Streamed NFL Playoff Game;
- Announced an 11-Year Agreement to Present NBA and WNBA Games Beginning with the 2025-26 Season
Total Customer Relationships for Connectivity & Platforms decreased by 58,000 to 51.6 million, primarily reflecting a decrease in domestic customer relationships, partially offset by an increase in international customer relationships. Total domestic broadband customer net losses were 139,000, including the modest negative impact associated with Hurricanes Milton and Helene. Total domestic wireless line net additions were 307,000 and total domestic video customer net losses were 311,000.
