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Comcast (CMCSA) Plans to Bring Xfinity 10G Network in Duvall
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Comcast (CMCSA - Free Report) recently announced its plans to bring the high-speed Xfinity 10G network to more than 3,000 homes and businesses in Duvall over the next two years.
The network offers multi-gigabit internet speeds for residential and business customers as well as a full suite of services. Duvall leverages this network to improve its broadband infrastructure and meet the needs of its residents and local businesses.
The announcement marks an extension to Comcast’s commitment to invest in and expand their network in the Pacific Northwest in 2023. It plans to spend around $280 million to extend internet access to several rural communities throughout Oregon and Washington.
Comcast Leveraging Xfinity 10G Network to Aid Prospects
Comcast leverages on its Xfinity 10G Network to expand its subscriber base and reach. This next-generation network delivers three times faster broadband speeds, ultimate capacity, unprecedented coverage, reliable connection and ultra-low latency.
It aims to increase digital equity among rural communities by expanding the Xfinity 10G Network to new areas and offering cost-effective solutions by leveraging its symmetrical multi-gigabit Internet options.
In June 2023, Comcast announced its plans to expand the high-speed Xfinity 10G network to 25 rural communities of Florida.
In May 2023, Comcast announced its expansion with the next-generation Xfinity 10G network across Arcadia and surrounding areas in DeSoto County, Florida.
Apart from Xfinity, Comcast benefits from a suite of connectivity, communications, networking, cybersecurity, wireless and managed solutions for small- and mid-sized businesses. Its strong product portfolio and connectivity is expected to drive the top line in 2023.
Shares of Comcast have increased 16% year to date compared with the Zacks Consumer Discretionary sector’s rise of 8.3%.
Comcast Faces Stiff Competition
Comcast has been leveraging on its technology and expanding network, reflected in its expanding subscriber base. However, it faces stiff competition in its broadband and wireless connectivity business from players like Verizon Communications (VZ - Free Report) , AT&T (T - Free Report) and Charter Communications (CHTR - Free Report) .
Shares of Verizon, AT&T and Charter have declined 8.3%, 15.1% and 0.6% year to date, respectively.
In the wireless segment, Comcast added 355K wireless lines in the first quarter of 2023, whereas Verizon, Charter and AT&T added 899K, 686K, and 5.1 million wireless lines, respectively.
It added 5K broadband customers in the first quarter of 2023, whereas Verizon and Charter added 44K and 76K customers, respectively. AT&T lost 23K customers during the same time frame.
The Zacks Consensus Estimate for fiscal second-quarter revenues is pegged at $30.29 billion, indicating growth of 0.91% from the year-ago quarter’s reported figure.
The consensus mark for earnings has remained unchanged at $1 per share in the past 30 days, indicating a decline of 0.99% from the year-ago quarter’s levels.
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Comcast (CMCSA) Plans to Bring Xfinity 10G Network in Duvall
Comcast (CMCSA - Free Report) recently announced its plans to bring the high-speed Xfinity 10G network to more than 3,000 homes and businesses in Duvall over the next two years.
The network offers multi-gigabit internet speeds for residential and business customers as well as a full suite of services. Duvall leverages this network to improve its broadband infrastructure and meet the needs of its residents and local businesses.
The announcement marks an extension to Comcast’s commitment to invest in and expand their network in the Pacific Northwest in 2023. It plans to spend around $280 million to extend internet access to several rural communities throughout Oregon and Washington.
Comcast Leveraging Xfinity 10G Network to Aid Prospects
Comcast leverages on its Xfinity 10G Network to expand its subscriber base and reach. This next-generation network delivers three times faster broadband speeds, ultimate capacity, unprecedented coverage, reliable connection and ultra-low latency.
Comcast Corporation Price and Consensus
Comcast Corporation price-consensus-chart | Comcast Corporation Quote
It aims to increase digital equity among rural communities by expanding the Xfinity 10G Network to new areas and offering cost-effective solutions by leveraging its symmetrical multi-gigabit Internet options.
In June 2023, Comcast announced its plans to expand the high-speed Xfinity 10G network to 25 rural communities of Florida.
In May 2023, Comcast announced its expansion with the next-generation Xfinity 10G network across Arcadia and surrounding areas in DeSoto County, Florida.
Apart from Xfinity, Comcast benefits from a suite of connectivity, communications, networking, cybersecurity, wireless and managed solutions for small- and mid-sized businesses. Its strong product portfolio and connectivity is expected to drive the top line in 2023.
Shares of Comcast have increased 16% year to date compared with the Zacks Consumer Discretionary sector’s rise of 8.3%.
Comcast Faces Stiff Competition
Comcast has been leveraging on its technology and expanding network, reflected in its expanding subscriber base. However, it faces stiff competition in its broadband and wireless connectivity business from players like Verizon Communications (VZ - Free Report) , AT&T (T - Free Report) and Charter Communications (CHTR - Free Report) .
Shares of Verizon, AT&T and Charter have declined 8.3%, 15.1% and 0.6% year to date, respectively.
In the wireless segment, Comcast added 355K wireless lines in the first quarter of 2023, whereas Verizon, Charter and AT&T added 899K, 686K, and 5.1 million wireless lines, respectively.
It added 5K broadband customers in the first quarter of 2023, whereas Verizon and Charter added 44K and 76K customers, respectively. AT&T lost 23K customers during the same time frame.
This Zacks Rank #3 (Hold) company’s first-quarter 2023 revenues declined 4.3% year over year. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for fiscal second-quarter revenues is pegged at $30.29 billion, indicating growth of 0.91% from the year-ago quarter’s reported figure.
The consensus mark for earnings has remained unchanged at $1 per share in the past 30 days, indicating a decline of 0.99% from the year-ago quarter’s levels.