Telecommunications

Comcast Reports 1st Quarter 2024 Results PHILADELPHIA–(BUSINESS WIRE)–April 25, 2024– Comcast Corporation (NASDAQ: CMCSA) today reported results for the quarter ended March 31, 2024. “Our team is continuing to execute exceptionally well in a dynamic and competitive marketplace,” said Brian L. Roberts, Chairman and Chief Executive Officer of Comcast Corporation. “We delivered double-digit growth in Adjusted EPS and free cash flow while returning $3.6 billion to shareholders, investing aggressively in our businesses, and maintaining our strong balance sheet. We grew broadband ARPU over 4%, delivered 7% revenue growth in our connectivity businesses, and expanded our Adjusted EBITDA margin across Connectivity & Platforms. In Studios, following a record year with eight Oscars including Best Picture, our film group continues to leverage our incredible IP with hits like Kung Fu Panda 4; and Peacock remains one of the fastest growing domestic streamers with impressive acquisition, retention and engagement trends. Overall, I am […]

The following is a summary of the Comcast (CMCSA) Q1 2024 Earnings Call Transcript: Financial Performance: Comcast reported Q1 revenue of $30.1 billion, a 1% increase with consistent EBITDA at $9.4 billion. Adjusted EPS saw a 14% growth, boosted by a roughly 6% reduction in share count over the last year. The company generated impressive free cash flow of $4.5 billion in the quarter, and $3.6 billion were returned to shareholders. The residential broadband sector contributed heavily to the growth with revenue surging over 4%, driving total revenue in this area to over $6.5 billion. Business Progress: The company remains focused on its six major growth drivers, including residential broadband, wireless, business services, theme parks, studios, and streaming. Broadband usage among customers is on the rise with increased speed tier subscriptions and increased investment in the multi-gig internet. Subscriber base reports show more than 70% of customers are on speed

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We keep our 12-month target price at $50, applying an EV/EBITDA multiple of 7.4x to our ’24 estimate, in line with its three-year historical average multiple, reflecting our positive outlook on the company. We trim our ’24 EPS estimate by $0.04 to $4.24 and lower ’25’s by $0.05 to $4.55. CMCSA reported Q1 operating EPS of $1.04 vs. $0.92, $0.05 above the consensus. Q1 revenue grew 1.2%, driven by 1.1% growth in Content and Experiences fueled by 3.6% growth in Media, and a 1.5% increase in Theme Parks, partially offset by a 7.2% decline in Studios due to lower licensing revenue. Domestic broadband customers fell 65k and video customers fell 487k, while wireless customer additions were 289k. While wireless results will likely continue to impress, we see

US media networks are expected to see another soft quarter in Q1 but there could be an improvement in linear TV ad revenue and modest gains in direct-to-consumer, Macquarie said in a note to clients Monday. “We anticipate an uninspiring Q1 reporting season from the five media network groups under coverage,” the firm said. Macquarie said it expects “stagnating” revenue and earnings before interest, taxes, depreciation and amortization for Comcast (CMCSA). The company’s broadband subscribers remain under pressure and it faces tough comparisons in film and parks, according to the note. Walt Disney’s (DIS) proxy fight is over but Macquarie said it doesn’t see much change in the financial outlook, while Fox’s (FOX) fiscal 2024 estimates look weak on comparison and timing. Paramount (PARA) is expected to strike a merger with Skydance Media soon and Warner Bros. Discovery (WBD) will not see a good start in Q1, according to the