Comcast 2012 Annual Report Download - page 32

Table of Contents
Caution Concerning Forward-Looking Statements
The SEC encourages companies to disclose forward-looking information so that investors can better understand a company’
s future
prospects and make informed investment decisions. In this Annual Report on Form 10-
K, we state our beliefs of future events and of
our future financial performance, including as a result of the NBCUniversal transaction. In some cases, you can identify these so-
called “forward-looking statements” by words such as “may,” “will,” “should,” “expects,” “believes,” “estimates,” “potential,”
or
“continue,”
or the negative of these words, and other comparable words. You should be aware that these statements are only our
predictions. In evaluating these statements, you should consider various factors, including the risks and uncertainties listed in “
Risk
Factors” and in other reports we file with the SEC.
Additionally, we operate in a highly competitive, consumer
-
driven and rapidly changing environment. The environment is affected by
government regulation; economic, strategic, political and social conditions; consumer response to new and existing products and
services; technological developments; and, particularly in view of new technologies, the ability to develop and protect intellectual
property rights. Our actual results could differ materially from our forward-
looking statements or as a result of any of such factors,
which could adversely affect our business, results of operations or financial condition. We undertake no obligation to update any
forward-looking statements.
Item 1A: Risk Factors
Our businesses currently face a wide range of competition, and our businesses and results of operations could be
adversely affected if we do not compete effectively.
All of our businesses operate in intensely competitive industries and compete with a growing number of companies that provide a
broad range of communication, entertainment and information products and services to consumers. Technological changes are
further intensifying and complicating the competitive landscape and influencing consumer behavior. Companies continue to emerge
that offer services or devices that enable Internet video streaming and downloading of video programming, and wireless services and
devices continue to evolve. Moreover, in recent years, Congress and various states have enacted legislation and the FCC has
adopted regulatory policies that have had the effect of providing a more favorable operating environment for some of our existing and
potential new competitors. Our ability to compete effectively also is in part dependent on our perceived image and reputation among
our various constituencies, including our customers, consumers, advertisers, investors and governmental authorities.
While competition for the cable services we offer consists primarily of DBS operators and phone companies, we also directly
compete against other providers of traditional cable services, as well as other companies that offer programming and other
communications services, including high-
speed Internet and phone services, to our customers and potential customers. These
companies typically offer features, pricing and packaging for services comparable to our cable services. Furthermore, while we
began offering Verizon Wireless’
s products and services in addition to our cable services in certain of our service areas in 2012,
some of our phone company competitors have their own wireless facilities and may expand their cable service offerings to include
bundled wireless offerings, which may adversely affect our business and results of operations.
In addition, our cable communications business continues to seek ways to leverage our cable services network, such as by
increasing the speed of our high-speed Internet services, by expanding and enhancing our business services to medium-
sized
businesses and by launching additional services, such as our home security and automation service. There can be no assurance
that we can execute on these and other initiatives in a manner sufficient to grow or maintain our cable communications revenue or to
compete successfully in the future.
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Comcast 2012 Annual Report on Form 10-
K