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Comcast (CMCSA) to Report Q4 Earnings: What's in the Cards?

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Comcast (CMCSA - Free Report) is set to report first-quarter 2022 results on Apr 28.

The Zacks Consensus Estimate for fourth-quarter 2022 revenues is pegged at $30.44 billion, indicating 11.89% growth from the year-ago quarter’s reported figure.

The consensus mark for earnings stayed at 80 cents per share in the past 30 days, suggesting a rise of 5.26% from the figure reported in the year-ago quarter.

Comcast beat on earnings in all the trailing four quarters, the average surprise being 18.92%.

Let’s see how things are shaping up prior to this announcement.

Internet Subscriber Base Growth To Aid Growth

Comcast’s top-line in the to-be-reported quarter is expected to have benefited from the robust growth in its broadband subscriber base and strong growth momentum in the wireless business.

Coronavirus-led increased content consumption and the online-learning and work-from-home wave are expected to have driven this cable giant.

Improvement in customer experience owing to expanding Wi-Fi coverage and innovative xFi control features is expected to have aided subscriber growth.

The Zacks Consensus Estimate for Cable Communication – High Speed Internet revenues is pegged at $6.05 billion, indicating 8.05% growth from the figure reported in the year-ago quarter.

Notably, Comcast’s wireless business added 1.2 million lines in the fourth quarter of 2021. The momentum is expected to have continued in the fourth quarter.

Moreover, the Zacks Consensus Estimate for Cable Communication revenues is pegged at $16.44 billion, implying 3.4 % growth from the figure reported in the year-ago quarter.

Comcast Corporation Price, Consensus and EPS Surprise

 

Comcast Corporation Price, Consensus and EPS Surprise

Comcast Corporation price-consensus-eps-surprise-chart | Comcast Corporation Quote

 

NBCUniversal & Theme Park Revenues To Drive Top-Line

Comcast’s NBCUniversal revenues are expected to have benefited from the ongoing recovery at the theme parks, as well as the growth of the company’s linear and streaming media platforms.

The Zacks Consensus Estimate for NBCUniversal revenues stands at $9.76 billion, implying a 39% growth from the figure reported in the year-ago quarter.

NBCUniversal’s theme park revenues are expected to have reflected a significant growth driven by the resumption of services in Universal Orlando Resort, Universal Studios Japan and Universal Beijing Resort Theme Park.

The consensus mark for Theme Parks’ revenues is pegged at $1.44 billion. The company had reported revenues of $619 million in the year-ago quarter.

NBCUniversal’s streaming service, Peacock, is expected to have gained users thanks to its solid content portfolio.

Sky’s Revenues Continue To Recover

Sky’s top-line growth is expected to have benefited from the resumption of sports-content coverage in the to-be-reported quarter. Strong advertising and content revenues are expected to have aided growth.

The Zacks Consensus Estimate for Sky revenues is pegged at $4.97 billion, implying a decline of 0.6% from the figure reported in the year-ago quarter.

Key Q1 Developments

In the to-be-reported quarter, Comcast and Paramount Global (PARA - Free Report) announced that SkyShowtime, their new streaming joint venture, received full regulatory approval.

The companies also revealed their plans to launch SkyShowtime, in more than 20 European markets encompassing 90 million homes starting later this year.

Comcast’s streaming joint venture with Paramount Global will allow the former to improve its range of offerings and also help in the expansion of its customer base.

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. But that’s not the case here.

Comcast has an Earnings ESP of -1.78% and a Zacks Rank #3. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Stocks to Consider

Here are some stocks you can consider, as our model shows that these also have the right combination of elements to post an earnings beat:

Gildan Activewear (GIL - Free Report) has an Earnings ESP of +10.20% and a Zacks Rank #1. The company is set to announce fourth-quarter 2021 results on May 5. You can see the complete list of today’s Zacks #1 Rank stocks here.

Golden Entertainment (GDEN - Free Report) has an Earnings ESP of +7.72% and a Zacks Rank #1. The company is set to announce first-quarter 2022 results on May 5.

Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.

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