Slide 1: 4th Quarter and Full-Year 2023 Results
th 4 Quarter and Full-Year 2023 Results January 25, 2024
Slide 2: Important Information
IMPORTANT INFORMATION Caution Concerning Forward-looking Statements This presentation includes statements that may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, and Section 21E of the Sec
Slide 3: 2023 Financial Highlights
2023 Financial Six Key Growth Drivers: 55% of 2023 Total Revenue; Grew 8% Y/Y* Highlights $121.6B in Revenue • Residential Broadband $37.6B in Adjusted EBITDA $3.98 in Adjusted EPS • Wireless $13.0B in Free Cash Flow • Business Services $15.8B in Return of Capital • Theme Parks Raising dividend by $
Slide 4: Consolidated 2023 Financial Results
Consolidated 2023 Financial Results ($ in billions, except per share data) Revenue Adj. EBITDA Adj. EPS +0.1% +3.2% +9.3% $37.6 $3.98 $121.4 $121.6 $36.5 $3.64 2022 2023 2022 2023 2022 2023 Free Cash Flow (FCF) Generation of $13.0 Billion; FCF Per Share +10% Y/Y 4 See Notes on Slide 11
Slide 5: Consolidated 4Q 2023 Financial Results
Consolidated 4Q 2023 Financial Results ($ in billions, except per share data) Revenue Adj. EBITDA Adj. EPS +2.3% +0.1% +2.4% $31.3 $0.84 $8.0 $8.0 $30.6 $0.82 4Q22 4Q23 4Q22 4Q23 4Q22 4Q23 Significant Free Cash Flow Generation of $1.7 Billion 5 Reported results for 4Q22 and 4Q23 include severance an
Slide 6: Connectivity & Platforms
4Q 2023 4Q 2023 Connectivity Revenue Adj. EBITDA Commentary & Platforms ($M) y/y % y/y % Revenue ($B) • Residential Connectivity revenue +7%, with domestic broadband $20.3 $20.4 revenue +4%, domestic wireless revenue +15% and international connectivity revenue +19% (0.5%) Residential • Domestic resi
Slide 7: Content & Experiences
4Q 2023 4Q 2023 Content & Revenue Adj. EBITDA Commentary ($M) y/y % y/y % Experiences Revenue ($B) • Strong revenue growth in Peacock $11.5 $6,979 $108 $10.9 Media +3.1% (50.2%) • Peacock revenue +57%, surpassing $1B in quarterly revenue for the first time; Peacock paid subscribers increased nearly
Slide 8: Free Cash Flow & Capital Allocation Framework
Free Cash Flow & Capital Allocation Framework • Invest organically for growth Capital Allocation • Protect our strong balance sheet position, with targeted leverage of ~2.4x • Return capital to shareholders Consolidated Capital ($B)* Balance Sheet Statistics Return of Capital Full Year 2023:Total Re
Slide 9: Appendix
&B COMCAST APPENDIX
Slide 10: Free Cash Flow Generation
Free Cash Flow Generation Adjusted EBITDA to Free Cash Flow Walk FY 2023 ($B) Changes in Noncash share- Capital Software & Cash interest Adjusted EBITDA Cash taxes operating assets based compensation Free Cash Flow expenditures intangibles expense and liabilities and Other $13.0 10 See Notes on Slid
Slide 11: Notes
NOTES Numerical information is presented on a rounded basis using actual amounts. Minor differences in totals and percentage calculations may exist due to rounding. Beginning in the first quarter of 2023, we changed our presentation of segment operating results around our two primary businesses, Con
Slide 12: 4Q 2023 in Photos
4Q 2023 IN PHOTOS &B COMCAST
Slide 13: Connectivity: DOCSIS 4.0 rollout
Q1 2023 IN PHOTOS 2023: Comcast Begins Rolling Out DOCSIS 4.0; Increases Passings by 1.1 Million. Beginning in October, Comcast began to deliver multi-gig symmetrical speeds in its world-first DOCSIS 4.0 deployment. The latest version of DOCSIS technology is a giant Connectivity: leap forward in Int
Slide 14: Platforms: Xumo streaming devices
Q1 2023 IN PHOTOS December 2023: Xumo, Our Streaming Platform Joint Venture, Begins Nationwide Rollout of Its Streaming Devices in Comcast Households. Xfinity Internet customers now have a new way to enjoy streaming entertainment in the home for no Platforms: additional monthly cost with the launch
Slide 15: Content: Universal #1 worldwide box office
December 2023: Universal ranked #1 in worldwide box office for the full year, fueled by the theatrical success of The Content: Super Mario Bros. Movie, Oppenheimer and Fast X, as well as contributions from other theatrical releases during the year, including Five Nights at Freddy's, Trolls Band Toge
Slide 16: Experiences: Theme parks record EBITDA
Q1 2023 IN PHOTOS Experiences: December 2023: Theme Parks Generated Its Highest Adj. EBITDA On Record for a Fourth Quarter and a Full Year. Adj. EBITDA increased 11.6% to $872 million in the fourth quarter and 24.7% to $3.3 billion for the full year.
Slide 17: Comcast
ab, COMCAST