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Comcast Corporation, headquartered in Philadelphia, is the largest American multinational telecommunications and media conglomerate. With a core cable business servicing 63 million US homes and businesses, Comcast also owns NBCUniversal, Sky, CNBC, MSNBC, USA, Universal Studios, and more. Recently, Comcast announced a $1 million grant to The Arc of the United States to enhance digital equity and advocate for the IDD community.
NBCUniversal is set to premiere 'In the Company of Heroes', a 22-minute feature narrated by Matt Damon, during its coverage of the Olympic Games Paris 2024. The piece honors the 80th anniversary of D-Day, featuring interviews with surviving veterans who revisited Normandy in 2023.
Produced by David Picker and Ron Vaccaro, the feature highlights the Best Defense Foundation, founded by former NFL player Donnie Edwards, which organized the veterans' trip. A 4-minute preview will air during the U.S. Olympic Team Trials on June 8, 2024, at 2 p.m. ET on NBC and Peacock.
The Paris Olympics, scheduled for July 26-Aug. 11, 2024, will be the third time Paris hosts the Games. NBCUniversal plans extensive coverage across its broadcast network and Peacock streaming service, with competitions set against iconic Parisian landmarks.
Comcast (Nasdaq: CMCSA) has announced a quarterly dividend of $0.31 per share on its common stock. The dividend will be payable on October 23, 2024, to shareholders of record as of the close of business on October 2, 2024. This announcement demonstrates Comcast's commitment to returning value to its shareholders through regular dividend payments. Investors interested in receiving automatic updates on Comcast's financial news can subscribe to E-mail Alerts on the company's website at www.cmcsa.com.
Comcast (NASDAQ: CMCSA) reported its Q2 2024 results with some key figures showing mixed performance.
Adjusted EPS rose by 7.0% to $1.21. The company returned $3.4 billion to shareholders through dividends and share repurchases.
However, some metrics showed declines: Revenue fell 2.7% to $29.7 billion, Net Income dropped 7.5% to $3.9 billion, and Free Cash Flow decreased by 60.9% to $1.3 billion.
In its Connectivity & Platforms segment, Adjusted EBITDA increased by 1.6% to $8.5 billion, setting a record margin of 41.9%. The Media segment's Adjusted EBITDA also grew by 9%, driven by Peacock's strong performance, which saw a 38% increase in paid subscribers.
However, the Studios and Theme Parks segments faced challenges with lower revenues and Adjusted EBITDA.
Despite these mixed outcomes, the company remains optimistic about future growth, supported by upcoming events like the Paris Summer Olympics.
Comcast has activated a new $7.5 million fiber Internet network in Miami-Dade's 33155 and 33143 zip codes, bringing high-speed connectivity to parts of South Miami, Coral Terrace, and West Miami. The network offers residential speeds up to 1.2 Gbps and business speeds up to 100 Gbps, with symmetrical upload and download capabilities. This investment provides thousands of homes and businesses with access to Xfinity and Comcast Business services for the first time.
The new fiber-to-the-home technology aims to support remote work, gaming, and other high-bandwidth activities. Comcast's network powers over 1 billion devices annually and offers advanced features like ultimate capacity, fastest Internet, unprecedented coverage, and ultra-low latency. The company is also rolling out DOCSIS 4.0 technology for symmetrical gigabit speeds over existing connections.
Per Scholas, a national tech training nonprofit, has launched a new campus in Kansas City, partnering with Great Jobs KC to provide no-cost IT training and career development. The 13-week program offers CompTIA A+ and Google IT Support certifications, aiming to address the growing demand for skilled IT professionals in the region.
The initiative is supported by Comcast NBCUniversal, Cortex, Missouri Tech First Initiative, and the NFL Foundation. Per Scholas Kansas City's inaugural cohort began in May, with applications open for upcoming cohorts. The program targets diversity, with 85% of learners being people of color and over 40% women. Graduates have shown to earn three times their pre-training wage in their first job after completion.
Comcast NBCUniversal (CMCSA) has announced its commitment to supporting military customers through various initiatives. The company offers Xfinity Military Benefits, including a $15/month discount on Xfinity services, one free Xfinity Mobile line for a year, and automatic Xfinity Diamond Rewards status. These benefits provide access to Peacock Premium and other entertainment perks.
Additionally, Universal Orlando Resort offers discounted park tickets and vacation packages for active service members, military retirees, and spouses. Through Project UP, Comcast partners with organizations to provide digital skills programs and entrepreneurship opportunities for the military community. The company's Internet Essentials program also connects veterans and military families to affordable Internet starting at $9.95/month.
Comcast (CMCSA) has opened a new Xfinity Store in Kentwood, its third in the Grand Rapids metropolitan area. The 3,500 square foot retail location offers Xfinity and Comcast Business products and services. This expansion is part of Comcast's commitment to provide direct access to in-person retail spaces for customers.
The store showcases the latest savings and service bundles, including the new StreamSaver app bundle starting at $15 per month for Xfinity customers. Comcast has invested over $16 million in cash and in-kind contributions to support community events and nonprofit organizations across Michigan in the last three years.
Comcast has unveiled enhanced 4K for Xfinity X1, a groundbreaking viewing experience debuting for the Paris Olympics. This technology combines 4K video at the highest bitrate, Dolby Vision HDR, Dolby Atmos audio, and ultra-low latency. Available on USA Network's 24/7 coverage, it offers viewers an unparalleled Olympic experience.
The X1 platform will feature a comprehensive Olympics destination, accessible by voice command, with personalized content, an interactive event schedule, and new features like Catch-Up Highlights and Team Comcast Profiles. Xfinity Stream app users can now enjoy 4K, Dolby Vision, and Dolby Atmos on compatible devices. The Xfinity Sports Zone App will include Odds Zone for select Olympic sports.
Comcast NBCUniversal LIFT Labs and Comcast RISE have launched 'Culture Capital', a three-part docuseries showcasing nine diverse entrepreneurs, now available on Comcast's Black Experience on Xfinity channel, Peacock, and Xumo Play. Hosted by Felecia Hatcher, CEO of Black Ambition Prize, the series highlights the journeys of founders of color in creating competitive businesses.
The docuseries features entrepreneurs from various industries, including restaurant owners, tech founders, and community space creators. It aims to empower viewers by demonstrating the power of ideas and the drive needed to bring them to life. The series is part of Comcast's commitment to diversity and inclusion, representing opportunities essential for creating an equitable entrepreneurial ecosystem.
NBCUniversal's Creative Impact Lab has partnered with the Challenged Athletes Foundation (CAF) and Venice Arts to create a national TV spot featuring Paralympic hopeful Derek Loccident. The 30-second PSA, produced by Venice Arts apprentices with guidance from NBCUniversal volunteers, will air during NBCU's Olympic and Paralympic promotional window, reaching millions of homes.
The Creative Impact Lab, launched in 2022, empowers diverse creators while highlighting nonprofit impact. Derek Loccident, a former collegiate football player who lost his left foot, transitioned to track & field with support from CAF and Össur. The PSA aims to inspire others and showcase CAF's mission. NBCUniversal plans to provide the most comprehensive coverage of the Paralympics in U.S. media history for the Paris 2024 Games.
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