Comcast (CMCSA) Q2 2017 Earnings Call Notes

posted in: Earnings Call, Notes | 0

David N. Watson – Comcast Corp.

Internet is a key driver of growth

“High-speed Internet continues to be the largest contributor to overall cable revenue growth…there is significant runway ahead of broadband. And the key to me when you look at this is the upside of the opportunity. We’re sitting at 45% penetration right now. So there’s growth just there. The overall market is growing with only 75% of households subscribing to Internet access…We deliver very fast, reliable service. And the focus – the shift that we’ve had around innovation is around WiFi in the home.”

Michael J. Cavanagh – Comcast Corp.

On costs

“Programming costs, we came in in the first half of the year at around 12% and I wouldn’t expect it to be much different in the second half. In terms of non-programming costs, you saw the great results in the first half of the year and we think those trends are steady…We do expect programming costs as we’ve said to come down into the high single-digits in years after 2017.”