Our Company |
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Comcast Corporation We are one of the nation’s leading providers of entertainment, information and communication products and services to residential and commercial customers. As of Dec. 31, 2008, Comcast Cable served approximately 24 million video customers, 15 million high-speed Internet customers, and more than 6.5 million phone customers in 39 states and the District of Columbia. Comcast’s content networks and investments include E! Entertainment Television, Style Network, Golf Channel, VERSUS, G4, PBS KIDS Sprout, TV One and 10 regional sports networks as well as Comcast Interactive Media and Comcast-Spectacor. |
Financial Highlights |
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| Revenue - $ in billions |
Operating Cash Flow1 - $ in billions |
Free Cash Flow2 - $ in billions, except per share data |
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 Free Cash Flow Per Share* |
*2006 free cash flow per share adjusted to reflect stock split.
With diverse revenue streams, we have many ways to grow.
2008 Consolidated Revenue of $34.3 Billion
- Percent of total
Business Services revenue (video, phone and high-speed Internet) totaled $558 million or nearly 2% of consolidated revenue.
2008 Consolidated Pro Forma Revenue3 Growth
Video |
4% |
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High-Speed Internet |
10% |
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Phone |
48% |
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Cable Advertising |
(3)% |
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Cable Other* |
10% |
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Programming |
9% |
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Corporate and Other* |
41% |
Business Services revenue (video, phone and high-speed internet) grew 42% to $558 million in 2008.
Comcast Cable serves approximately 24 million video customers, 15 million high-speed Internet customers and 6.5 million phone customers in 39 states and the District of Columbia, with more than 90% of our video customers clustered in the top 40 Comcast markets.
The Areas We Serve
The map below highlights our 40 major markets with emphasis on our operations in the top 25 U.S. TV markets.
Our programming division feeds the passions and interests of millions of consumers.
| Ownership | Subscribers - In millions |
Ownership | Subscribers - In millions |
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|---|---|---|---|---|---|
 |
100% | 96.0 |  * |
40% | 44.7** |
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100% | 59.1 |  * |
33% | 38.8 |
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100% | 65.2 |  * |
33% | 31.7** |
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100% | 81.6 |  |
65% | 29.0** |
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100% | 74.1 |
** Linear and On Demand subscribers.
Our Regional SportsNets are strong operating businesses with strategic value that capitalize on our local presence.
| Ownership | Subscribers - In millions |
Ownership | Subscribers - In millions |
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|---|---|---|---|---|---|
 Bay Area |
67% | 4.2 | Philadelphia |
85% | 2.9 |
| Chicago |
30% | 4.7 | California |
100% | 2.4 |
| Mid-Atlantic |
100% | 4.7 |  |
75% | 5.8 |
| New England |
100% | 4.1 |  * |
8% | 8.7 |
| Northwest |
100% | 1.1 |  |
50% | 1.3 |
Comcast Interactive Media seeks to grow and extend our online businesses and create converged experiences for Comcast’s customers.
Click on the logos below to learn more about our online businesses.
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Comcast-Spectacor is a leading sports and entertainment company.
Click on the logo below to learn more about Comcast-Spectacor.
1 Operating Cash Flow is defined as operating income before depreciation and amortization, excluding impairment charges related to fixed and intangible assets and gains or losses on sale of assets, if any. Please refer to our Quarterly Earnings Releases, on Form 8-K, for a reconciliation of consolidated operating cash flow.
2 Free Cash Flow, which is a non-GAAP financial measure, is defined as "Net Cash Provided by Operating Activities" (as stated in our Consolidated Statement of Cash Flows) reduced by capital expenditures and cash paid for intangible assets and adjusted for any payments related to certain non-operating items, net of estimated tax benefits (such as income taxes on investment sales, and non-recurring payments related to income tax and litigation contingencies of acquired companies). The definition of Free Cash Flow specifically excludes any impact from the 2008 or 2009 Economic Stimulus packages. Please refer to our Quarterly Earnings Releases, on Form 8-K, for a reconciliation and further details. Free Cash Flow per Share is calculated by taking Free Cash Flow (as described above) divided by diluted weighted-average number of common shares outstanding used in the calculation of earnings per share.
3 Revenue, operating cash flow and customer information are prepared on a pro forma basis. Pro forma results adjust for certain cable segment acquisitions and dispositions, including the acquisition of Susquehanna Communications (April 2006), the cable systems acquired and sold in the Adelphia/Time Warner transactions (July 2006), the cable systems resulting from the dissolution of the Texas / Kansas City Cable Partnership (January 2007), Comcast SportsNet Bay Area / Comcast SportsNet New England (June 2007), the cable system acquired from Patriot Media (August 2007), and the dissolution of the Insight Midwest Partnership (January 2008). Pro forma customer data also includes 7,000 video customers acquired through an acquisition in November 2008. The impact of these acquisitions on our segment operating results was not material. Please refer to our 2008 earnings releases for a reconciliation of 2007 pro forma financial data.
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