Comcast Reports 3rd Quarter 2022 Results

According to Comcast's 3rd quarter 2022 report results, Comcast delivered solid growth in adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) and adjusted earnings per share (EPS), generated significant free cash flow, invested in the businesses’ future, and returned a record amount of capital to our shareholders. In cable, the company grew adjusted EBITDA by more than 5% and achieved its highest adjusted EBITDA margin on record despite a challenging competitive environment. Additionally, Comcast experienced the following highlights in broadband:

• Cable Communications total customer relationships of 34.4 million and total broadband customers of 32.2 million were consistent with the prior quarter and increased 0.9% and 1.5%, respectively, compared to the prior year period,
• Cable Communications wireless customer line net additions were 333,000, the best quarterly result on record,
• Cable Communications started rolling out multi-gig broadband speeds in markets across the US and will launch even faster, multi-gig symmetrical speeds beginning in 2023,
• Total customer relationships increased by 145,000. Residential customer relationships increased by 121,000 and business customer relationships increased by 25,000,
• Total broadband customer net additions were 277,000, total video customer net losses were 1.6 million and total voice customer net losses were 884,000. In addition, Cable Communications added 968,000 wireless lines in the current period.