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The Zacks Consensus Estimate for third-quarter 2022 revenues is pegged at $29.71 billion, indicating 1.94% growth from the year-ago quarter’s reported figure.
The consensus mark for earnings has been steady at 89 cents per share in the past 30 days, suggesting a rise of 2.30% from the figure reported in the year-ago quarter.
Comcast beat on earnings in all the trailing four quarters, the average surprise being 9.99%.
Let’s see how things have shaped up up prior to this announcement.
Factors at Play
Comcast’s top line in the to-be-reported quarter is expected to have witnessed a slowing broadband subscriber base due to the reversal of pandemic trends and increased competition from fixed wireless and fiber. Nevertheless, momentum in wireless is expected to have benefited its top-line growth.
The Zacks Consensus Estimate for Cable Communication – High-Speed Internet revenues is pegged at $6.13 billion, indicating 5.64% growth from the figure reported in the year-ago quarter.
Comcast’s wireless business added 317K lines in the second quarter of 2022. The momentum is expected to have continued in the third quarter.
The consensus mark for Wireless revenues is pegged at $780 million, implying 29.4% growth from the figure reported in the year-ago quarter.
The Zacks Consensus Estimate for Cable Communication revenues is pegged at $16.499 billion, implying 2.4% growth from the figure reported in the year-ago quarter.
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.
However, Peacock’s EBITDA loss is expected to have been higher in the to-be-reported quarter.
The consensus mark for Theme Parks’ revenues is pegged at $1.94 billion, implying 34% growth from the figure reported in the year-ago quarter.
The Zacks Consensus Estimate for NBCUniversal’s revenues stands at $9.013 billion, implying a 9.9% decline from the figure reported in the year-ago quarter.
Key Q3 Developments
In the to-be-reported quarter, Comcast announced that its division Comcast Business has inked a partnership with Fortinet to offer enterprises a new set of secure access service edge and security service edge solutions.
Moreover, Comcast and Monumental Sports & Entertainment (“MSE”) announced an agreement under which the latter will acquire NBCUniversal’s 67% stake in NBC Sports Washington. MSE already owns 33% of NBC Sports Washington.
Comcast also announced that it has been working with Samsung to deliver 5G Radio Access Network (“RAN”) solutions. This RAN solution can be used to enhance 5G connectivity for Xfinity Mobile and Comcast Business Mobile customers in Comcast’s service areas.
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.
Comcast has an Earnings ESP of +1.65% 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 stocks you can consider, as our model shows that these too have the right combination of elements to post an earnings beat:
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Comcast (CMCSA) to Report Q3 Earnings: What's in the Cards?
Comcast (CMCSA - Free Report) is set to report third-quarter 2022 results on Oct 27.
The Zacks Consensus Estimate for third-quarter 2022 revenues is pegged at $29.71 billion, indicating 1.94% growth from the year-ago quarter’s reported figure.
The consensus mark for earnings has been steady at 89 cents per share in the past 30 days, suggesting a rise of 2.30% from the figure reported in the year-ago quarter.
Comcast beat on earnings in all the trailing four quarters, the average surprise being 9.99%.
Comcast Corporation Price and EPS Surprise
Comcast Corporation price-eps-surprise | Comcast Corporation Quote
Let’s see how things have shaped up up prior to this announcement.
Factors at Play
Comcast’s top line in the to-be-reported quarter is expected to have witnessed a slowing broadband subscriber base due to the reversal of pandemic trends and increased competition from fixed wireless and fiber. Nevertheless, momentum in wireless is expected to have benefited its top-line growth.
The Zacks Consensus Estimate for Cable Communication – High-Speed Internet revenues is pegged at $6.13 billion, indicating 5.64% growth from the figure reported in the year-ago quarter.
Comcast’s wireless business added 317K lines in the second quarter of 2022. The momentum is expected to have continued in the third quarter.
The consensus mark for Wireless revenues is pegged at $780 million, implying 29.4% growth from the figure reported in the year-ago quarter.
The Zacks Consensus Estimate for Cable Communication revenues is pegged at $16.499 billion, implying 2.4% growth from the figure reported in the year-ago quarter.
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.
However, Peacock’s EBITDA loss is expected to have been higher in the to-be-reported quarter.
The consensus mark for Theme Parks’ revenues is pegged at $1.94 billion, implying 34% growth from the figure reported in the year-ago quarter.
The Zacks Consensus Estimate for NBCUniversal’s revenues stands at $9.013 billion, implying a 9.9% decline from the figure reported in the year-ago quarter.
Key Q3 Developments
In the to-be-reported quarter, Comcast announced that its division Comcast Business has inked a partnership with Fortinet to offer enterprises a new set of secure access service edge and security service edge solutions.
Moreover, Comcast and Monumental Sports & Entertainment (“MSE”) announced an agreement under which the latter will acquire NBCUniversal’s 67% stake in NBC Sports Washington. MSE already owns 33% of NBC Sports Washington.
Comcast also announced that it has been working with Samsung to deliver 5G Radio Access Network (“RAN”) solutions. This RAN solution can be used to enhance 5G connectivity for Xfinity Mobile and Comcast Business Mobile customers in Comcast’s service areas.
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.
Comcast has an Earnings ESP of +1.65% 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 stocks you can consider, as our model shows that these too have the right combination of elements to post an earnings beat:
Cumulus Media (CMLS - Free Report) has an Earnings ESP of +42.86% and a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
CMLS is set to announce third-quarter 2022 results on Oct 28. Cumulus shares have been down 36.6% year to date.
fubo TV (FUBO - Free Report) has an Earnings ESP of +2.70% and a Zacks Rank #2.
Fubo TV is set to announce third-quarter 2022 results on Nov 4. FUBO’s shares have been down 77.5% year to date.
Take-Two Interactive Software (TTWO - Free Report) has an Earnings ESP of +6.46% and a Zacks Rank #3.
Take-Two Interactive is set to announce second-quarter fiscal 2022 results on Nov 7. TTWO shares have been down 30.7% year to date.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.