Comcast Corporation (CMCSA) Q4 2022 Earnings Call Transcript

Comcast Corporation (NASDAQ:CMCSA) Q4 2022 Earnings Conference Call January 26, 2023 8:30 AM ET

Company Participants

Marci Ryvicker - EVP, IR

Brian Roberts - Chairman & CEO

Mike Cavanagh - CFO

Jeff Shell - CEO, NBCUniversal

Dave Watson - President & CEO, Comcast Cable

Conference Call Participants

Doug Mitchelson - Credit Suisse

Ben Swinburne - Morgan Stanley

Craig Moffett - MoffettNathanson

Jessica Reif Ehrlich - Bank of America Securities

Brett Feldman - Goldman Sachs

Michael Rollins - Citi

Philip Cusick - JPMorgan

John Hodulik - UBS

Operator

Good morning, ladies and gentlemen, and welcome to Comcast's Fourth Quarter and Full Year 2022 Earnings Conference Call. At this time all participants are in listen-only mode. Please note that this conference call is being recorded.

I will now turn the call over to Executive Vice President, Investor Relations, Ms. Marci Ryvicker. Please go ahead, Ms. Ryvicker.

Marci Ryvicker

Thank you, operator, and welcome, everyone. On this morning's call are Brian Roberts, Mike Cavanagh and Jason Armstrong, who are also joined by Dave Watson, Jeff Shell and Dana Strong, Brian and Mike will make formal remarks, while Dave, Jeff and Dana will also be available for Q&A.

Let me now refer you to Slide 2, which contains our safe harbor disclaimer and remind you that this conference call may include forward-looking statements subject to certain risks and uncertainties. In addition, during this call, we will refer to certain non-GAAP financial measures. Please see our 8-K and trending schedules for the reconciliations of these non-GAAP financial measures to GAAP.

With that, let me turn the call over to Brian Roberts for his comments. Brian?

Brian Roberts

Thanks, Marci, and good morning, everyone. I'm really proud of how our team executed throughout 2022. We achieved the highest levels of revenue, adjusted EBITDA and adjusted EPS in our company's history. And we returned a record $17.7 billion of capital to shareholders through both our recurring dividend, which we just increased for the 15th consecutive year and robust share repurchase activity.

We did all this while accelerating investment in key growth initiatives, which are showing great progress, particularly our broadband network as we transition to 10G but also in Xfinity Mobile, Peacock and our theme parks. I attribute all this success to the incredible talent across our organization, who work collaboratively to ensure we are constantly evolving and innovating so that our customers have the absolute best experience with us at every point of interaction.