Comcast Corp. (CMCSA)

Income Statement

Low level of difficulty

The income statement presents information on the financial results of a company’s business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

Comcast Corp., consolidated income statement

US$ in millions

12 months ended	Dec 31, 2018	Dec 31, 2017	Dec 31, 2016	Dec 31, 2015	Dec 31, 2014
Revenue	94,507	84,526	80,403	74,510	68,775
Programming and production	(29,692)	(25,384)	(24,463)	(22,550)	(20,912)
Gross profit	64,815	59,142	55,940	51,960	47,863
Other operating and administrative	(28,094)	(25,013)	(23,409)	(21,339)	(19,862)
Advertising, marketing and promotion	(7,036)	(6,317)	(6,114)	(5,943)	(5,078)
Depreciation	(8,281)	(7,914)	(7,464)	(6,781)	(6,337)
Amortization	(2,736)	(2,353)	(2,094)	(1,899)	(1,682)
Other operating gains	341	442	—	—	—
Operating income	19,009	17,987	16,859	15,998	14,904
Interest expense	(3,542)	(3,086)	(2,942)	(2,702)	(2,617)
Equity in net income (losses) of investees, net	(364)	107	(104)	(325)	97
Realized and unrealized gains (losses) on equity securities, net	(187)	(17)	12	(47)	142
Other income (loss), net	326	331	528	448	(61)
Investment and other income (loss), net	(225)	421	436	76	178
Income before income taxes	15,242	15,322	14,353	13,372	12,465
Income tax (expense) benefit	(3,380)	7,578	(5,308)	(4,959)	(3,873)
Net income	11,862	22,900	9,045	8,413	8,592
Net income attributable to noncontrolling interests and redeemable subsidiary preferred stock	(131)	(186)	(350)	(250)	(212)
Net income attributable to Comcast Corporation	11,731	22,714	8,695	8,163	8,380

Based on: 10-K (filing date: 2019-01-31), 10-K (filing date: 2018-01-31), 10-K (filing date: 2017-02-03), 10-K (filing date: 2016-02-05), 10-K (filing date: 2015-02-27).

Income statement item	Description	The company
Revenue	Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise.	Comcast Corp.’s revenue increased from 2016 to 2017 and from 2017 to 2018.
Operating income	The net result for the period of deducting operating expenses from operating revenues.	Comcast Corp.’s operating income increased from 2016 to 2017 and from 2017 to 2018.
Income before income taxes	Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.	Comcast Corp.’s income before income taxes increased from 2016 to 2017 but then slightly declined from 2017 to 2018.
Net income attributable to Comcast Corporation	The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.	Comcast Corp.’s net income attributable to Comcast Corporation increased from 2016 to 2017 but then slightly declined from 2017 to 2018 not reaching 2016 level.