Comcast Corp (CMCSA) CEO Brian Roberts on Q1 2022 Results - Earnings Call Transcript

Comcast Corp, Inc. (NASDAQ:CMCSA) Q1 2022 Earnings Conference Call April 28, 2022 8:30 AM ET

Company Participants

Marci Ryvicker - SVP, IR

Brian Roberts - Chairman, CEO & President

Michael Cavanagh - Senior EVP & CFO

Jeffrey Shell - CEO, NBCUniversal

David Watson - President & CEO, Comcast Cable

Conference Call Participants

Benjamin Swinburne - Morgan Stanley

Douglas Mitchelson - Crédit Suisse

Philip Cusick - JPMorgan Chase & Co.

Jessica Reif Ehrlich - Bank of America Merrill Lynch

Craig Moffett - MoffettNathanson

Brett Feldman - Goldman Sachs Group

John Hodulik - UBS

Operator

Good morning, ladies and gentlemen, and welcome to Comcast's First Quarter 2022 Earnings Conference Call. [Operator Instructions]. 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. Joining me on this morning's call are Brian Roberts, Mike Cavanagh, 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. 2022 is off to a great start. Each of our businesses posted healthy growth in adjusted EBITDA, contributing to a double-digit increase in adjusted EPS as well as significant free cash flow generation in the quarter. And we achieved all of this while continuing to invest in our businesses for the long term, while also increasing our return of capital to shareholders.

Our company has been at the forefront of innovation in connectivity and also in content. We have built a leading global technology platform, which today delivers 5 billion entertainment streams a week and 40 million voice commands a day across Comcast, Sky and our current syndication partners.

Yesterday's announcement highlights the value of what we've created. As you probably are aware, we formed a joint venture with Charter to offer our award-winning, voice-controlled streaming platform across the United States, starting with Flex and XClass TV, and to further develop this technology. Not only will we bring these products to millions of more customers, but we'll open the door to brand-new revenue opportunities. And when you combine Charter's footprint with our current syndication partners in both the U.S. and Canada, our retail distribution through Walmart and Sky, which essentially runs off the same technology, we now have a truly global platform.