Comcast Corporation (CMCSA) Q1 2023 Earnings Call Transcript

For the period ending March 31, 2023

April 27, 2023 8:30 a.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Good morning, ladies and gentlemen, and welcome to Comcast's First Quarter Earnings Conference Call. At this time all participants are in a 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 - EVP, IR

Thank you, operator, and welcome to our first quarter 2023 earnings call. You'll first hear from Brian Roberts, Mike Cavanagh and Jason Armstrong, then Dave Watson will join us and be available for Q&A.

As a reminder, beginning this first quarter we have changed our presentation of segment operating results around two primary businesses; Connectivity & Platforms and Content & Experiences. For additional details please refer to our 8-K issued on March 13, which can be found on our Investor Relations website at www.cmcsa.com.

I will now refer you to Slide 2 of the presentation accompanying this call, which can also be found on our investor relations website on which contains our Safe Harbor disclaimer. 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 schedule issued earlier this morning for the reconciliations of these non-GAAP financial measures to GAAP.

With that, I'll turn the call over to Brian.

Brian Roberts - Chairman and CEO

Thanks, Marci, and good morning, everyone. Before we get in the quarter, let me just acknowledge the news that you all saw earlier this week, obviously a tough moment. But we are so fortunate to have a fabulous and tenured leadership team at NBCUniversal. If you go down the list, you'll see many of them have been leading their divisions within the company for at least 10 years and are truly the best in the business.

We're also lucky to have Mike Cavanagh step in at the helm at NBCUniversal while also remaining President. Mike is a fantastic executive and operator that many of you know well and he'll work closely with each of the management team at NBCUniversal to continue our excellent momentum. Mike, alongside with Jason Armstrong will lead these earnings calls on a go forward basis. Today, you'll hear from them about our strategic focus and drivers of growth now and over the long-term, and Jason will go into much greater details on the first quarter results.