Comcast Q2 Earnings Beat as Broadband Losses Narrow, Peacock Hits Profit
CMCSA is trading near its 52-week low of $22.125 (8.3% above the low).
Summary
Comcast delivered a strong Q2, beating on both top and bottom lines. Adjusted EPS of $1.04 topped the $0.97 consensus, while revenue of $29.94B exceeded the $29.24B estimate. The broadband story is improving: domestic residential losses narrowed to 167K from 201K a year ago, the second straight quarter of improvement. Wireless continues to be a bright spot with 448K net adds, well above the 379K expected. Peacock turned its first quarterly profit, with revenue surging 54% to $1.9B and paid subscribers reaching 48M. Media revenue jumped 25%, boosted by $441M from the FIFA World Cup. This follows the June announcement of a planned spinoff of NBCUniversal and Sky, and the pause in buybacks during the separation process. The earnings beat and improving subscriber trends suggest the core business is stabilizing even as the company reshapes its portfolio.
At the time of this announcement, CMCSA was trading at $23.96 on NASDAQ in the Trade & Services sector, with a market capitalization of approximately $84B. The 52-week trading range was $22.13 to $33.74. This news item was assessed with positive market sentiment and an importance score of 9 out of 10. Source: Dow Jones Newswires.