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Comcast (CMCSA) Expands its Xfinity 10G Network to Arcadia
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Comcast (CMCSA - Free Report) is accelerating the deployment of its Xfinity 10G Network to Arcadia and surrounding areas in DeSoto County, FL. This expansion will provide high-speed Internet services to over 10,000 homes and businesses, including areas that previously lacked access.
The Xfinity 10G Network aims to offer cost-effective solutions leveraging the company's symmetrical multi-gigabit Internet options.
Comcast's network and Internet experience offer several benefits to users, ensuring ultimate capacity, the fastest Internet speeds, unprecedented coverage, reliable connection, ultra-low latency and digital equity initiatives.
The Xfinity 10G Network, powered by next-generation Xfinity gateways, provides advanced WiFi technology capable of carrying three times more bandwidth. This empowers users to engage in streaming, gaming, videoconferencing and other high-bandwidth activities simultaneously.
Comcast expects to complete the network expansion by the end of summer, delivering high-speed Internet services.
This deployment will not only bring high-speed Internet to these communities but also ensure that the infrastructure is future-proofed to support the increasing demand for Internet consumption.
Comcast Facing Competition
Although the company has leveraged through technology and expanded Xfinity 10G Network, it faces formidable competition from industry rivals such as Charter Communication (CHTR - Free Report) , Verizon Communications (VZ - Free Report) , and Disney (DIS - Free Report)
In the wireless segment, Comcast added 355K wireless lines in the first quarter of 2023, whereas Verizon and Charter added 263K and 686K wireless lines, respectively.
It added 5K broadband customers in the first quarter of 2023, whereas Verizon and Charter added 437K and 76K customers, respectively.
Shares of Disney have increased 2.2% year to date whereas shares of Verizon and Charter have declined 25.4% and 38.7% year to date, respectively.
Comcast’s revenues decreased 4.3% year over year in the first quarter of 2023. The wireless communications and broadband revenues increased 27% and 5% year over year, respectively.
Comcast Performance to Aid Prospects
Shares of the company have gained 11.8% year to date compared with the Zacks Consumer Discretionary sector’s growth of 4.6%.
The recent outperformance can be attributed to strong growth in its broadband and cable TV businesses. The Domestic cable margins have increased by 250 basis points to a record 46.5%. The overall margin performance was also strong.
There was excellent revenue growth in the company’s high-margin connectivity operations, while Peacock subscribers increased by more than 60% year over year.
Comcast announced a number of strategic initiatives in the first quarter of 2023. It includes the launch of a new streaming service, the acquisition of Sky and the expansion of its Xfinity X1 platform.
The Zacks Consensus Estimate for second-quarter 2023 revenues is pegged at $30.29 billion, indicating 0.91% growth from the year-ago quarter’s reported figure.
The consensus mark for second-quarter 2023 earnings remained unchanged at $1 per share in the past 30 days, indicating a year-over-year fall of 0.99%.
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Comcast (CMCSA) Expands its Xfinity 10G Network to Arcadia
Comcast (CMCSA - Free Report) is accelerating the deployment of its Xfinity 10G Network to Arcadia and surrounding areas in DeSoto County, FL. This expansion will provide high-speed Internet services to over 10,000 homes and businesses, including areas that previously lacked access.
The Xfinity 10G Network aims to offer cost-effective solutions leveraging the company's symmetrical multi-gigabit Internet options.
Comcast's network and Internet experience offer several benefits to users, ensuring ultimate capacity, the fastest Internet speeds, unprecedented coverage, reliable connection, ultra-low latency and digital equity initiatives.
The Xfinity 10G Network, powered by next-generation Xfinity gateways, provides advanced WiFi technology capable of carrying three times more bandwidth. This empowers users to engage in streaming, gaming, videoconferencing and other high-bandwidth activities simultaneously.
Comcast Corporation Price and Consensus
Comcast Corporation price-consensus-chart | Comcast Corporation Quote
Comcast expects to complete the network expansion by the end of summer, delivering high-speed Internet services.
This deployment will not only bring high-speed Internet to these communities but also ensure that the infrastructure is future-proofed to support the increasing demand for Internet consumption.
Comcast Facing Competition
Although the company has leveraged through technology and expanded Xfinity 10G Network, it faces formidable competition from industry rivals such as Charter Communication (CHTR - Free Report) , Verizon Communications (VZ - Free Report) , and Disney (DIS - Free Report)
In the wireless segment, Comcast added 355K wireless lines in the first quarter of 2023, whereas Verizon and Charter added 263K and 686K wireless lines, respectively.
It added 5K broadband customers in the first quarter of 2023, whereas Verizon and Charter added 437K and 76K customers, respectively.
Shares of Disney have increased 2.2% year to date whereas shares of Verizon and Charter have declined 25.4% and 38.7% year to date, respectively.
Comcast’s revenues decreased 4.3% year over year in the first quarter of 2023. The wireless communications and broadband revenues increased 27% and 5% year over year, respectively.
Comcast Performance to Aid Prospects
Shares of the company have gained 11.8% year to date compared with the Zacks Consumer Discretionary sector’s growth of 4.6%.
The recent outperformance can be attributed to strong growth in its broadband and cable TV businesses. The Domestic cable margins have increased by 250 basis points to a record 46.5%. The overall margin performance was also strong.
There was excellent revenue growth in the company’s high-margin connectivity operations, while Peacock subscribers increased by more than 60% year over year.
Comcast announced a number of strategic initiatives in the first quarter of 2023. It includes the launch of a new streaming service, the acquisition of Sky and the expansion of its Xfinity X1 platform.
This Zacks Rank #3 (Hold) company reported first-quarter 2023 earnings of $0.92 per share, beating the Zacks Consensus Estimate of $0.80 per share. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for second-quarter 2023 revenues is pegged at $30.29 billion, indicating 0.91% growth from the year-ago quarter’s reported figure.
The consensus mark for second-quarter 2023 earnings remained unchanged at $1 per share in the past 30 days, indicating a year-over-year fall of 0.99%.