Comcast reported consolidated revenue for the fourth quarter of 2019 of $28.4 billion, up 2.0%. Consolidated net income attributable to Comcast increased 25.9% to $3.2 billion. Consolidated adjusted EBITDA increased 3.0% to $8.4 billion.
For the twelve months ended December 31, 2019, Comcast's consolidated revenue increased 15.3% to $109 billion compared to 2018. Consolidated net income attributable to Comcast increased 11.3% to $13.1 billion. Consolidated Adjusted EBITDA increased 13.6% to $34.3 billion.
Capital Expenditures decreased 2.5% to $3.1 billion in the fourth quarter of 2019.
Cable Communications’ capital expenditures decreased 7.8% to $2.1 billion. NBCUniversal’s capital expenditures increased 7.6% to $641 million. Sky had capital expenditures of $228 million.
Brian L. Roberts, Chairman and Chief Executive Officer of Comcast Corporation, said,
"We delivered strong operational and financial results in the fourth quarter, capping another great year for Comcast, including double-digit growth in full-year adjusted EPS, record free cash flow and 1.4 million broadband net additions in the U.S. Our teams at Cable, NBCUniversal and Sky continued to execute at a high level, strengthening our leadership position in our markets. Looking ahead, in 2020 we are leaning into exciting opportunities, including: further differentiating our broadband product in the U.S. through innovations like Flex and xFi Advanced Security; accelerating the deployment of Sky Q; launching a new broadband service in Italy; debuting Super Nintendo World at Universal Studios Japan; and introducing a world-class streaming service - Peacock - which leverages capabilities from across Comcast. Underscoring our confidence in the continued success of our company, we are pleased to announce a 10% increase in our dividend, our 12th consecutive annual increase."
- Revenue for Cable Communications increased 2.6% to $14.8 billion in the fourth quarter of 2019, driven primarily by increases in high-speed internet, business services and wireless revenue, partially offset by a decrease in advertising revenue.
- High-speed internet revenue increased 8.8%, driven by an increase in the number of residential high-speed internet customers and rate adjustments.
- Business services revenue increased 8.8%, due to an increase in the number of customers receiving our services and an increase in average rates.
- Wireless revenue increased 39.4%, primarily reflecting an increase in the number of customer lines.
- Advertising revenue decreased 19.1%, reflecting a decrease in political advertising revenue.
- Excluding political advertising revenue, advertising revenue was consistent with the prior year period.
- Video revenue decreased 1.2%, reflecting a decrease in the number of residential video customers, partially offset by rate adjustments.
- Voice revenue decreased 3.6%, primarily due to a decrease in the number of residential voice customers.
