Comcast Reports Fourth Quarter 2021 Results

Comcast Corporation (NASDAQ: CMCSA) announced its fourth quarter results for the 2021 fiscal year. The company’s robust financial and operating performance in the 2021 fiscal year was underscored by its highest full year revenue, free cash flow and adjusted EBITDA. The company continues to execute extremely well, strengthening its leadership position in the streaming and connectivity space.

Looking ahead, top management in the company says that the company will keep concentrating on its many growth opportunities across all its businesses. The company’s top priority is to increase the capacity of its networks in the United States and further enhancing its world-class broadband experience.

Top management statements

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The company’s Chief Executive Officer and Chairman, Brian Roberts said:

We are producing more of the premium content that our viewers love and continue to provide them with multiple ways to access it, including on Peacock while ramping construction of Epic Universe and welcoming even more guests to our Theme parks.

The CEO continued on:

We are expanding the reach of our proprietary global technology platform and addressable customer base, starting with Sky Glass and XClass TV. Our confidence in the future is reflected in today’s announcement that we are increasing the dividend for the 14th consecutive year.

Financial Highlights

The company recorded a 12.6% increase in consolidated adjusted EBITDA to $34.7 million, a 23.8% increase in adjusted EPS to $3.23 billion and $17.1 billion in Generated Free Cash Flow. Cable Communications Adjusted EBITDA rose by 11.2% and there was 6.7& increase in Adjusted EBITDA for each customer relationship.

Cable Communications successfully completed many groundbreaking test showcasing its DOCSIS 4.0 Tech that resulted in the first of its kind test of a modem that can provide Multi-Gigabit speeds to households as well as downloads speeds more than its Hybrid-fiber Coaxial Network.

The company reported a $1.7 billion increase in its Theme Parks Adjusted EBITDA. The company continues to recover from COVID-19’s continued negative impacts, and it benefitted from the strong demand from local guests in Japan and the United States. The company also successfully conducted its Universal Beijing Resort Grand Opening on 20^th September.

In the fourth quarter, the company recorded a 17% increase in consolidated adjusted EBITDA to $8.4 billion, a 37.5% increase in adjusted EPS to $0.77.