Comcast Corporation (CMCSA) UBS Global TMT Conference (Transcript) -LSB

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Comcast Corporation (NASDAQ:CMCSA) UBS Global TMT Conference Call December 4, 2023 9:00 AM ET

Company Participants

Mike Cavanagh – President

Conference Call Participants

John Hodulik – UBS

John Hodulik

Again, I’m John Hodulik from the Media, Telecom and Infrastructure Research team. I’m very pleased to have with me here today Mike Cavanagh, the President of Comcast. Mike, thanks for being here.

Mike Cavanagh

Thanks, John. Good to be here again. It’s been a couple of years…

John Hodulik

Number of years, yeah. It’s been great. Let’s keep it going. New building though, just seems great. But we’ve got 35 minutes for Q&A here, and I got a bunch of questions. And I also have the iPad. If anybody has a question, I’ll try to weave it into the conversation.

Question-and-Answer Session

Q – John Hodulik

But just to start things off, Comcast has been doing a really good job at managing for EBITDA growth, margin expansion and EPS growth, while revenue growth has been below GDP. What are you focused on as you look to drive revenue growth higher over time? And then, how are you managing businesses that have more structural challenge?

Mike Cavanagh

Sure. And I just would take the wording of the question a little bit. I wouldn’t say we’re focused so much — the way you asked, it makes — it sound like we’re focused on driving the bottom-line and not the top-line. And I would say, we’re very much focused on — the top-line will drive the bottom-line for the sustained period in the future, so we’re very focused on the top-line.

And I think the way to really unpack it and step back is as we’ve been talking about, there’s six businesses inside of Comcast that together — I’ll enumerate them in a second, but just to stay

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