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Comcast (CMCSA) Boosts Xfinity Network Expansion in Oregon
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Comcast (CMCSA - Free Report) completed the first phase of its network expansion to bring fast and reliable fiber-rich internet to nearly 200 homes and businesses in Eagle Creek and Estacada, OR.
Since the past three years, Comcast has invested more than $534 million in the network expansion project in Oregon to extend its broadband and other services to rural communities. It believes that high-speed Internet access will boost economic growth and lower unemployment rates in rural areas.
Comcast has expanded its services to more than 19,000 homes and businesses in Oregon in the last year and aims to serve the whole Oregon community with its low-cost programs. In March 2023, CMCSA started construction to reach about 1,700 homes and businesses this year, with more to come by February 2024.
The network offers multi-gigabit internet speeds for residential and business customers and a full suite of services. Comcast also offers Internet Essentials Plus, a low-cost internet service for eligible low-income households, through the Affordable Connectivity Program.
Comcast Leveraging Xfinity 10G Network to Aid Prospects
The cable TV market in the United States is undergoing a transformation as it faces challenges and opportunities from the evolving media landscape. Per an article by Grand View Research, the global broadcasting and cable TV market size was valued at $332.59 billion in 2022 and is expected to witness a CAGR of 3.9% from 2023 to 2030.
Comcast has gained 20.1% year to date compared with the Zacks Cable Television industry’s rise of 11.5% in the same time frame.
CMCSA leverages on its Xfinity 10G Network to expand its subscriber base and reach. 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.
Continuous innovation and diversification in Comcast’s business models is expected to retain their existing customers and attract new ones. Its new streaming offering, NOW TV meets the needs of value-conscious consumers with quality programming movies, top shows, live sports and news.
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 the rest of 2023.
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 TMobile US (TMUS - Free Report) .
Per an article by Statista, AT&T had the largest market share of wireless subscriptions in the United States in the first quarter of 2023, with 45.9%, followed by Verizon with 30.9% and TMobile US with 16.7%.
Shares of TMobile US have remained flat year to date. Shares of Verizon and AT&T have declined 11.2% and 17.3% year to date, respectively.
The Zacks Consensus Estimate for fiscal second-quarter revenues is pegged at $30.27 billion, indicating growth of 0.86% from the year-ago quarter’s reported figure.
The consensus mark for earnings has dropped 2% to 98 cents per share in the past 30 days, indicating a decline of 2.97% from the year-ago quarter’s levels.
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Comcast (CMCSA) Boosts Xfinity Network Expansion in Oregon
Comcast (CMCSA - Free Report) completed the first phase of its network expansion to bring fast and reliable fiber-rich internet to nearly 200 homes and businesses in Eagle Creek and Estacada, OR.
Since the past three years, Comcast has invested more than $534 million in the network expansion project in Oregon to extend its broadband and other services to rural communities. It believes that high-speed Internet access will boost economic growth and lower unemployment rates in rural areas.
Comcast has expanded its services to more than 19,000 homes and businesses in Oregon in the last year and aims to serve the whole Oregon community with its low-cost programs. In March 2023, CMCSA started construction to reach about 1,700 homes and businesses this year, with more to come by February 2024.
The network offers multi-gigabit internet speeds for residential and business customers and a full suite of services. Comcast also offers Internet Essentials Plus, a low-cost internet service for eligible low-income households, through the Affordable Connectivity Program.
Comcast Corporation Price and Consensus
Comcast Corporation price-consensus-chart | Comcast Corporation Quote
Comcast Leveraging Xfinity 10G Network to Aid Prospects
The cable TV market in the United States is undergoing a transformation as it faces challenges and opportunities from the evolving media landscape. Per an article by Grand View Research, the global broadcasting and cable TV market size was valued at $332.59 billion in 2022 and is expected to witness a CAGR of 3.9% from 2023 to 2030.
Comcast has gained 20.1% year to date compared with the Zacks Cable Television industry’s rise of 11.5% in the same time frame.
CMCSA leverages on its Xfinity 10G Network to expand its subscriber base and reach. 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.
Continuous innovation and diversification in Comcast’s business models is expected to retain their existing customers and attract new ones. Its new streaming offering, NOW TV meets the needs of value-conscious consumers with quality programming movies, top shows, live sports and news.
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 the rest of 2023.
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 TMobile US (TMUS - Free Report) .
Per an article by Statista, AT&T had the largest market share of wireless subscriptions in the United States in the first quarter of 2023, with 45.9%, followed by Verizon with 30.9% and TMobile US with 16.7%.
Shares of TMobile US have remained flat year to date. Shares of Verizon and AT&T have declined 11.2% and 17.3% year to date, respectively.
Comcast currently carries a Zacks Rank #3 (Hold). Its first-quarter 2023 revenues declined 4.3% year over year to $29.69 billion. 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 $30.27 billion, indicating growth of 0.86% from the year-ago quarter’s reported figure.
The consensus mark for earnings has dropped 2% to 98 cents per share in the past 30 days, indicating a decline of 2.97% from the year-ago quarter’s levels.