Comcast (CMCSA) Q3 2024 Earnings Transcript

Motley Fool Transcribing, The Motley Fool

Thu, April 23, 2026 astatine 8:07 AM CDT 49 min read

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Thursday, Oct. 31, 2024, astatine 8:30 a.m. ET

• President — Michael J. Cavanagh

• Chief Financial Officer — Jason S. Armstrong

• Chairman and Chief Executive Officer — Brian L. Roberts

• President & CEO, Connectivity and Platforms — David N. Watson

• Senior Executive Vice President & Chief Investor Relations Officer — Marci Ryvicker

Mike Cavanagh: Thanks, Marcy, and bully morning. Before I manus it implicit to Jason, I'll interaction connected a fewer topics that are apical of caput for maine arsenic we study our 3rd 4th results and caput into the location agelong of 2024. First is convergence, 2nd is Epic Universe and 3rd is Media. On convergence, which we specify arsenic the operation of ubiquitous high-speed Internet on with wireless phone, by that definition, we are positioned to win. And that is because, today, we person 63 cardinal homes and businesses already capable to person gig-plus broadband velocity and we besides connection wireless work everyplace we supply broadband.

This scope acold exceeds the fibre footprints of the largest 3 telecom companies combined, and our footprint is increasing astatine a accelerated pace. In fact, we've extended our web to much than 1.2 cardinal further homes and businesses implicit the past 12 months, a 50%-plus summation implicit what we were capable to bash conscionable 2 years ago. So, adjacent accounting for the announced fibre buildout plans of those 3 wireless companies, we expect to support this pb good into the future. Broadband usage is skyrocketing. Our broadband-only customers are dense information users, averaging 700 gigabytes per month. And we privation it that mode due to the fact that our existing web tin grip important increases successful bandwidth depletion astatine a precise debased marginal cost.

In addition, we're connected a way implicit the adjacent fewer years to being capable to present multi-gigabit symmetrical speeds, which volition beryllium competitory with immoderate exertion retired there. The different broadside of our converged offering is Xfinity Mobile, which matches the capabilities of immoderate wireless web successful America. We bundle Xfinity Mobile with our best-in-class broadband work everyplace we vie astatine a terms that offers large savings to the consumer. And erstwhile combined with broadband, our wireless offering some improves churn and increases wide lawsuit satisfaction. We besides look for opportunities to heighten our converged experience.

An illustration being a caller diagnostic we are rolling retired present called WiFi Boost, which automatically increases Xfinity Mobile lawsuit speeds up to 1 gig connected our WiFi network, which is besides the largest successful the nation. To adjacent retired these comments connected convergence, it's important to enactment that our strategy is proving retired successful fiscal performance. Our home broadband positive wireless gross has been increasing astatine 5%, which consistently leads the manufacture erstwhile you look crossed our competitors. The 2nd taxable I privation to interaction connected is Epic Universe, which volition beryllium the astir groundbreaking parkland ever introduced successful the United States.