Comcast is set to report earnings before the bell. Here’s what Wall Street expects

Finance

In this article

In this photo illustration, Comcast Corporation logo seen displayed on a tablet.
Igor Golovnov | SOPA Images | Lightrocket | Getty Images

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.

Articles You May Like

Video: The real thing to watch with the new US government
Bitcoin moving down and away from $100K
Why gold remains vulnerable despite a sharp uptick on Friday
Gold tanks as Fed Chair Powell signals cautious approach on rate cuts
US November durable goods orders -1.1% vs -0.4% expected

Leave a Reply

Your email address will not be published. Required fields are marked *