Comcast Corporation (NASDAQ:CMCSA) Q2 2024 Earnings Conference Call July 23, 2024 8:30 AM ET
Company Participants
Marci Ryvicker - Executive Vice President, Investor Relations
Mike Cavanagh - President
Jason Armstrong - Chief Financial Officer
Brian Roberts - Chairman & Chief Executive Officer
Dave Watson - President & Chief Executive Officer, Comcast Cable
Conference Call Participants
Ben Swinburne - Morgan Stanley
Craig Moffett - MoffettNathanson
Jessica Reif Ehrlich - Bank of America
John Hodulik - UBS
Jonathan Chaplin - New Street
Michael Ng - Goldman Sachs
Steven Cahall - Wells Fargo
Operator
Good morning, ladies and gentlemen, and welcome to Comcast's Second Quarter Earnings Conference Call. At this time, all participants are in a listen-only mode. Please note, 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 us on today's call are, Brian Roberts, Mike Cavanagh, Jason Armstrong, and Dave Watson.
I will now refer you to Slide 2 of the presentation accompanying this call, which can also be found on our Investor Relations website, 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 Mike.
Mike Cavanagh
Thank you, Marci, and good morning, everyone.
Before I hand it over to Jason, I'd like to comment on three key elements from the quarter. One, broadband; two, parks; and three, the NBA.
So, first is broadband, where the competitive intensity that we've seen for the past several quarters and which is particularly felt in the market for price-conscious consumers remains essentially unchanged, but throughout this period, our broadband strategy has been consistent and we remain confident in our plan.
We are focused on generating healthy broadband revenue growth by striking the right balance between rate and volume and relying heavily on market segmentation that I'll speak to in a minute. As a result, in the second quarter, ARPU grew 3.6%, which was within our historical range of 3% to 4%.
Despite the competitiveness of the recent past, we've maintained a market-leading base of 32 million broadband customers by refining our go-to-market approach to create options that fit each of our customers' lifestyles and budgets. Providing the best products with flexibility and choice at different value points, has served us extremely well for many years and remains the core of our playbook.