Comcast (CMCSA - Free Report) is set to report its second-quarter 2023 results on Jul 27, 2023.
The Zacks Consensus Estimate for second-quarter 2023 revenues is pegged at $30.25 billion, indicating growth of 0.77% from the year-ago quarter’s reported figure.
The consensus mark for earnings has declined 2% to 98 cents per share in the past 30 days, suggesting a fall of 2.97% from the figure reported in the year-ago quarter.
Comcast’s earnings beat the Zacks Consensus Estimate in all the trailing four quarters, the average surprise being 9.75%.
Let’s see how things have shaped up for the upcoming announcement.
Factors at Play
Comcast’s top line in the to-be-reported quarter is expected to reflect a slowing broadband subscriber base due to the reversal of pandemic trends and increased competition from fixed wireless and fiber-based wireline networks.
The company’s wireless business added 355K lines in the first quarter of 2023. The momentum is expected to have continued in the second quarter.
Comcast’s business services segment is expected to have benefited from an expanding clientele, thanks to an advanced and adaptable network infrastructure.
The Theme Park business is also likely to have benefited from strong occupancy rates in parks in Osaka, Beijing, Orlando and Super Nintendo World in Hollywood.
Moreover, Comcast is expected to have benefited from robust movie offerings on Peacock. NBCUniversal ("NBCU") has a strong content portfolio, driven by popular TV shows like Saturday Night Live. It also has an impeccable lineup of sports content, including Sunday Night Football, Premier League and Big 10, as well as streaming originals like Poker Face.
NBCU witnessed encouraging results in the first quarter of 2023, wherein paid subscribers and engagement levels rose to roughly 20 hours per subscriber per month, fueling strong growth in advertising revenues.
At the end of the first quarter, Peacock had nearly 22 million paid subscribers. Peacock revenues surged 45% to $685 million in the first quarter.
What Our Model Says
Per the Zacks model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. That’s the exact case here.
Comcast has an Earnings ESP of +0.22% and a Zacks Rank #3. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Other Stocks to Consider
Here are some other stocks you can consider, as our model shows that these too have the right combination of elements to post an earnings beat:
Townsquare (TSQ - Free Report) has an Earnings ESP of +4.17% and a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.
TSQ is set to announce its second-quarter 2023 results on Aug 9, 2023. Townsquare shares have gained 65.7% year to date.
Electronic Arts (EA - Free Report) has an Earnings ESP of +2.54% and a Zacks Rank #2.
EA is set to announce its first-quarter fiscal 2024 results on Aug 1, 2023. EA’s shares have gained 12.2% year to date.
Nexstar Media (NXST - Free Report) has an Earnings ESP of +4.86% and a Zacks Rank #1.
NXST is set to announce its second-quarter 2023 results on Aug 8, 2023. Nexstar shares have gained 3% year to date.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
4 Oil Stocks with Massive Upsides
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Comcast (CMCSA - Free Report) is set to report its second-quarter 2023 results on Jul 27, 2023.
The Zacks Consensus Estimate for second-quarter 2023 revenues is pegged at $30.25 billion, indicating growth of 0.77% from the year-ago quarter’s reported figure.
The consensus mark for earnings has declined 2% to 98 cents per share in the past 30 days, suggesting a fall of 2.97% from the figure reported in the year-ago quarter.
Comcast’s earnings beat the Zacks Consensus Estimate in all the trailing four quarters, the average surprise being 9.75%.
Let’s see how things have shaped up for the upcoming announcement.
Factors at Play
Comcast’s top line in the to-be-reported quarter is expected to reflect a slowing broadband subscriber base due to the reversal of pandemic trends and increased competition from fixed wireless and fiber-based wireline networks.
The company’s wireless business added 355K lines in the first quarter of 2023. The momentum is expected to have continued in the second quarter.
Comcast’s business services segment is expected to have benefited from an expanding clientele, thanks to an advanced and adaptable network infrastructure.
The Theme Park business is also likely to have benefited from strong occupancy rates in parks in Osaka, Beijing, Orlando and Super Nintendo World in Hollywood.
Moreover, Comcast is expected to have benefited from robust movie offerings on Peacock. NBCUniversal ("NBCU") has a strong content portfolio, driven by popular TV shows like Saturday Night Live. It also has an impeccable lineup of sports content, including Sunday Night Football, Premier League and Big 10, as well as streaming originals like Poker Face.
NBCU witnessed encouraging results in the first quarter of 2023, wherein paid subscribers and engagement levels rose to roughly 20 hours per subscriber per month, fueling strong growth in advertising revenues.
At the end of the first quarter, Peacock had nearly 22 million paid subscribers. Peacock revenues surged 45% to $685 million in the first quarter.
What Our Model Says
Per the Zacks model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. That’s the exact case here.
Comcast has an Earnings ESP of +0.22% and a Zacks Rank #3. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Other Stocks to Consider
Here are some other stocks you can consider, as our model shows that these too have the right combination of elements to post an earnings beat:
Townsquare (TSQ - Free Report) has an Earnings ESP of +4.17% and a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.
TSQ is set to announce its second-quarter 2023 results on Aug 9, 2023. Townsquare shares have gained 65.7% year to date.
Electronic Arts (EA - Free Report) has an Earnings ESP of +2.54% and a Zacks Rank #2.
EA is set to announce its first-quarter fiscal 2024 results on Aug 1, 2023. EA’s shares have gained 12.2% year to date.
Nexstar Media (NXST - Free Report) has an Earnings ESP of +4.86% and a Zacks Rank #1.
NXST is set to announce its second-quarter 2023 results on Aug 8, 2023. Nexstar shares have gained 3% year to date.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
4 Oil Stocks with Massive Upsides
Global demand for oil is through the roof... and oil producers are struggling to keep up. So even though oil prices are well off their recent highs, you can expect big profits from the companies that supply the world with "black gold."
Zacks Investment Research has just released an urgent special report to help you bank on this trend.
In Oil Market on Fire, you'll discover 4 unexpected oil and gas stocks positioned for big gains in the coming weeks and months. You don't want to miss these recommendations.
Download your free report now to see them.
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