Comcast will report its first-quarter earnings before the bell on Thursday, and Wall Street will be keeping an eye on subscriber on both broadband and streaming subscribers.
Broadband, the cornerstone business and revenue driver for Comcast and its cable peers, will likely be the focus. After explosive broadband growth — especially during the height of the pandemic — cable companies have seen a slowdown.
Here’s how Wall Street expects Comcast to perform, according to estimates from analysts surveyed by LSEG:
- Earnings per share: 99 cents expected
- Revenue: $29.81 billion expected
Cable companies have called out the slowdown in buying and selling of houses due to high interest rates, which has led to a decline in new home internet connections. There has also been new competition from wireless providers like T-Mobile and Verizon.
Meanwhile, Wall Street will also have interest in updates on the customer count for Comcast’s NBCUniversal streaming service Peacock. Peacock has been adding subscribers, albeit at a slower clip than its competitors, but has also seen mounting losses for the company.
Disclosure: Comcast is the parent company of NBCUniversal and CNBC.