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Comcast Corporation Q2 2010 Earnings Call Transcript

Comcast Corporation (CMCSA)

Q2 2010 Earnings Call

July 28, 2010 8:30 a.m. ET

Executives

Marlene Dooner - SVP, IR

Brian Roberts - CEO

Michael Angelakis - CFO

Steve Burke - COO

Neil Smit - President

Analysts

Jason Bazinet - Citi

Jessica Reif-Cohen - Bank of America Merrill Lynch

John Hodulik - UBS

Jason Armstrong - Goldman Sachs

Spencer Wang - Credit Suisse

Craig Moffett - Sanford Bernstein

Ben Swinburne - Morgan Stanley

Doug Mitchelson - Deutsche Bank

James Ratcliffe - Barclays Capitals

Marci Ryvicker - Wells Fargo Securities

Mike McCormack - JPMorgan

Presentation

Operator

Good morning ladies and gentlemen and welcome to Comcast's Second Quarter 2010 Earnings Conference Call. At this time all participants are in a listen only mode. Please note that this conference call is being recorded. I will now turn the call over to Senior Vice President, Investor Relations, Ms. Marlene Dooner. Please go ahead, Ms. Dooner.

Marlene Dooner

Thank you, operator and welcome everyone to our second quarter 2010 earnings call. Joining me on the call are Brian Roberts, Steve Burk, Michael Angelakis and Neil Smit. As always let me first refer you to slide number 2, which contains our Safe Harbor disclaimer and remind you that 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 now turn the call to Brian Roberts for his comments, Brian?

Brian Roberts

Thanks Marlene and good morning everyone. Today we are pleased to report strong financial results for the second quarter and the first half as we continue to focus on profitable growth. In the second quarter, revenue and operating cash flow growth accelerated to 6%, and we generated $1.4 billion of free cash flow, an increase of 16%.

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