CMCSA Comcast Corporation

By Michael Dabaie

Comcast Corp. said the impact of the Covid-19 pandemic could have a material adverse impact on its results of operations over the near to medium term.

The media, entertainment, and communications company said in a Securities and Exchange Commission filing it has closed all of its theme parks, delayed theatrical distribution of films both domestically and internationally and the creation and availability of its film and television programming in the U.S. and globally has been disrupted, including from the cancellation or postponement of sports events.

For Sky, these impacts materially exacerbate what was an already deteriorating economic environment and advertising market in the U.K. and Europe in 2019, Comcast said in the filing.

"Our Comcast Cable business, while our network performs well to meet the challenge of business and schooling from home, will not be unaffected either as economic stress impacts our residential and business services customer base," Comcast said in the SEC filing.

Comcast said it expects the ultimate significance of the impact of Covid-19 will vary, but will generally depend on the extent of governmental measures affecting day to day life and how long such measures remain in place.

Write to Michael Dabaie at michael.dabaie@wsj.com

(END) Dow Jones Newswires

March 24, 2020 09:39 ET (13:39 GMT)

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