Comcast (CMCSA) Q4 2017 Earnings Conference Call Transcript

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Comcast (NASDAQ: CMCSA)
Q4 2017 Earnings Conference Call
Jan. 24, 2018 8:30 a.m. ET

Contents:

  • Prepared Remarks

  • Questions and Answers

  • Call Participants

Prepared Remarks:

Operator

Good morning, ladies and gentlemen, and welcome to Comcast's Fourth-Quarter and Full-Year 2017 Earnings Conference Call. At this time, all participants are in a listen-only mode. Please note that this conference call is being recorded. I would now turn the call over to senior vice president, investor relations and finance, Mr. Jason Armstrong. Please go ahead, Mr. Armstrong.

Jason Armstrong -- Senior Vice President, Investor Relations and Finance

Thank you, Operator, and welcome, everyone. Joining me on this morning's call are Brian Roberts, Mike Cavanagh, Steve Burke, and Dave Watson. Brian and Mike will make formal remarks, and Steve and Dave will also be available for Q&A. As always, let me now refer you to Slide No. 2, which contains our safe harbor disclaimer, and remind you this conference call may include forward-looking statements subject to certain risks and uncertainties. In addition, in this call, we will refer to certain non-GAAP financial measures. Please refer to our 8-K for the reconciliation of non-GAAP financial measures to GAAP. With that, let me turn the call to Brian Roberts for his comments. Brian?

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Brian Roberts -- Chairman and Chief Executive Officer

Thank you, Jason, and good morning, everyone. Across Comcast NBCUniversal, our company is executing at a high level, and I'm proud to report fantastic results for both the fourth quarter and full year 2017. Starting with the fourth quarter at cable communications. We continued to have strength in our connectivity businesses, where we added 350,000 net new broadband customers and increased business-services revenue by 12.2% as well as continued improvements as a result of our investments in the customer experience.

At NBCUniversal, we had a terrific quarter, driven by robust affiliate fee and retrans growth, a successful holiday season at our theme parks capping off a great 2017, and record profitability at film. Perhaps even better, this exceptional performance in 2017 positions us well as we enter 2018. The recent passage of tax reform provides real and immediate benefits for our company that will further enhance our financial position and will in turn enable us to do more of the things that help us better serve our customers, our employees, and the communities where we operate, as well as drive value for our shareholders. This means continuing to develop the most innovative products and services, investing where we see high returns and opportunities to drive growth, including in our broadband network, TV, film, and theme park offerings, and continuing to deliver a healthy return of capital to shareholders.