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Comcast (CMCSA) Expands Xfinity 10G Network in Rural Caruthers
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Comcast (CMCSA - Free Report) is extending its Xfinity 10G Network to Caruthers, California, with a $3.6-million investment. This expansion aligns with the company’s commitment to bridging the digital divide in rural areas.
Residents and businesses in Caruthers will have access to high-speed broadband services, including Internet Essentials for income-constrained households.
Comcast is actively working on Xfinity 10G Network expansion projects in other parts of Fresno and Merced Counties, demonstrating its dedication to providing advanced connectivity solutions to underserved communities.
Comcast Leveraging Xfinity 10G Network to Aid Prospects
Comcast’s shares have returned 27.5% compared with the Zacks Consumer Discretionary sector’s increase of 3.5% year to date. The outperformance can be attributed to a growing wireless subscriber base and improved content offerings.
CMCSA leverages its Xfinity 10G Network to expand its subscriber base and reach. The network delivers three times faster broadband speeds, ultimate capacity, unprecedented coverage, reliable connection and ultra-low latency.
Comcast has been expanding high-speed broadband in rural communities like Biola with a $1-million investment and Planada with a $4.5-million investment to bridge the digital divide. The company is actively working on Xfinity 10G Network expansion projects in more areas across Fresno and Merced Counties.
Comcast has been using its advanced technology and expanding the Xfinity 10G Network. 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 Charter have surged 27.8% year to date, while the same for Verizon and AT&T have declined 17.8% and 19.2% year to date, respectively.
Comcast added 316K wireless lines in the second quarter of 2023. It lost 19K broadband customers.
Comcast has been consistently losing video subscribers due to cord-cutting, and it also faces challenges from growing competition in fixed wireless and fiber services, along with rising programming expenses, which could impact its performance for the rest of 2023.
For the third quarter of 2023, CMCSA estimates revenues between $29.33 billion and $30.28 billion.
The Zacks Consensus Estimate for the current quarter is pegged at $29.69 billion, indicating a drop of 0.52% year over year.
The consensus mark for earnings has increased to 94 cents per share in the past 30 days, indicating a decline of 2.08% year-over-year.
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Comcast (CMCSA) Expands Xfinity 10G Network in Rural Caruthers
Comcast (CMCSA - Free Report) is extending its Xfinity 10G Network to Caruthers, California, with a $3.6-million investment. This expansion aligns with the company’s commitment to bridging the digital divide in rural areas.
Residents and businesses in Caruthers will have access to high-speed broadband services, including Internet Essentials for income-constrained households.
Comcast is actively working on Xfinity 10G Network expansion projects in other parts of Fresno and Merced Counties, demonstrating its dedication to providing advanced connectivity solutions to underserved communities.
Comcast Leveraging Xfinity 10G Network to Aid Prospects
Comcast’s shares have returned 27.5% compared with the Zacks Consumer Discretionary sector’s increase of 3.5% year to date. The outperformance can be attributed to a growing wireless subscriber base and improved content offerings.
CMCSA leverages its Xfinity 10G Network to expand its subscriber base and reach. The 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
Comcast has been expanding high-speed broadband in rural communities like Biola with a $1-million investment and Planada with a $4.5-million investment to bridge the digital divide. The company is actively working on Xfinity 10G Network expansion projects in more areas across Fresno and Merced Counties.
In the second quarter of 2023, this Zacks Rank #3 (Hold) company recorded a 1.7% year-over-year revenue increase, reaching $30.51 billion. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Comcast Faces Stiff Competition
Comcast has been using its advanced technology and expanding the Xfinity 10G Network. 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 Charter have surged 27.8% year to date, while the same for Verizon and AT&T have declined 17.8% and 19.2% year to date, respectively.
Comcast added 316K wireless lines in the second quarter of 2023. It lost 19K broadband customers.
Comcast has been consistently losing video subscribers due to cord-cutting, and it also faces challenges from growing competition in fixed wireless and fiber services, along with rising programming expenses, which could impact its performance for the rest of 2023.
For the third quarter of 2023, CMCSA estimates revenues between $29.33 billion and $30.28 billion.
The Zacks Consensus Estimate for the current quarter is pegged at $29.69 billion, indicating a drop of 0.52% year over year.
The consensus mark for earnings has increased to 94 cents per share in the past 30 days, indicating a decline of 2.08% year-over-year.