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The Zacks Consensus Estimate for second-quarter 2024 revenues is pegged at $30.07 billion, indicating a decline of 1.46% from the year-ago quarter’s reported figure.
The consensus mark for earnings has declined a penny to $1.11 per share in the past 30 days, suggesting a fall of 1.77% from the figure reported in the year-ago quarter.
Comcast’s earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 10.33%.
Let’s see how things have shaped up for the upcoming announcement.
As Comcast prepares to release its second-quarter 2024 results, it continues to navigate a complex landscape shaped by evolving consumer behaviors, intense competition and broader economic trends.
In the second quarter, Comcast’s top line is expected to have reflected a slowing broadband subscriber base as the market shows signs of saturation. In the first quarter, Comcast lost 65K domestic broadband customers. Moreover, it lost 487K video customers.
The hybrid working model adopted by many companies post-pandemic has potentially reduced the urgency for high-speed home Internet upgrades. Additionally, increased competition from fixed wireless and fiber-based networks might have negatively impacted subscriber growth and retention.
The ongoing shift away from traditional cable TV services has been a significant hurdle for Comcast. The cord-cutting phenomenon, driven by the proliferation of streaming alternatives, is likely to have further eroded the company's video subscriber base. Streaming platforms like Netflix, Disney+ and Apple TV+ continue to offer compelling content at competitive prices, putting pressure on CMCSA's traditional cable business.
Despite these challenges, Comcast has been actively pursuing strategies to diversify its offerings and maintain its market position.
The company's streaming platform, Peacock, is expected to have continued its growth trajectory. In the to-be-reported quarter, Comcast announced the launch of Xfinity StreamSaver, a streaming bundle of Peacock, Netflix and Apple TV+ for new and existing Xfinity Internet and TV customers.
With its diverse content offerings, including popular TV shows, sports programming and original series, Peacock is likely to have attracted more subscribers and generated increased revenues. In the first quarter, Peacock’s paid subscribers rallied 55% year over year to 34 million, including net additions of three million in the first quarter. Peacock’s revenues in the first quarter jumped 54% to $1.1 billion.
Comcast's Theme Park business is anticipated to have performed well, buoyed by strong occupancy rates across its global locations. The summer travel season is likely to have contributed to increased footfall at parks in Orlando, Hollywood, Osaka and Beijing.
CMCSA's business services segment is likely to have shown resilience, potentially benefiting from an expanding client base drawn to the company's advanced network infrastructure. In the to-be-reported quarter, Comcast Business announced new and cost-effective mobile plans aimed at enhancing value and performance for small business customers.
However, the broader economic environment, including inflationary pressures and concerns about consumer spending, is expected to have impacted Comcast's overall performance across its diverse portfolio of businesses.
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 +0.46% and a Zacks Rank #3 at present. 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 other stocks you can consider, as our model shows that these, too, have the right combination of elements to post an earnings beat:
Hims & Hers Health is scheduled to release second-quarter 2024 results on Aug 5. The Zacks Consensus Estimate for HIMS’ earnings is pegged at 5 cents per share, indicating a rise of 266.67% from the prior-year quarter's level.
Aspen Aerogels (ASPN - Free Report) has an Earnings ESP of +23.53% and flaunts a Zacks Rank #1 at present.
Aspen Aerogels is slated to release second-quarter 2024 results on Aug 7. The Zacks Consensus Estimate for ASPN’s earnings is pinned at 5 cents per share, indicating growth of 122.73% from the year-ago quarter's level.
DigitalOcean (DOCN - Free Report) has an Earnings ESP of +2.19% and sports a Zacks Rank #1 at present.
DigitalOcean is set to report second-quarter 2024 results on Aug 8. The Zacks Consensus Estimate for DOCN’s earnings is pegged at 39 cents per share, indicating a decline of 11.36% from the prior-year period’s reported figure.
Image: Bigstock
Comcast (CMCSA) to Report Q2 Earnings: What's in the Cards?
Comcast (CMCSA - Free Report) is slated to report its second-quarter 2024 results on Jul 23.
The Zacks Consensus Estimate for second-quarter 2024 revenues is pegged at $30.07 billion, indicating a decline of 1.46% from the year-ago quarter’s reported figure.
The consensus mark for earnings has declined a penny to $1.11 per share in the past 30 days, suggesting a fall of 1.77% from the figure reported in the year-ago quarter.
Comcast’s earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 10.33%.
Let’s see how things have shaped up for the upcoming announcement.
Comcast Corporation Price and EPS Surprise
Comcast Corporation price-eps-surprise | Comcast Corporation Quote
Factors at Play
As Comcast prepares to release its second-quarter 2024 results, it continues to navigate a complex landscape shaped by evolving consumer behaviors, intense competition and broader economic trends.
In the second quarter, Comcast’s top line is expected to have reflected a slowing broadband subscriber base as the market shows signs of saturation. In the first quarter, Comcast lost 65K domestic broadband customers. Moreover, it lost 487K video customers.
The hybrid working model adopted by many companies post-pandemic has potentially reduced the urgency for high-speed home Internet upgrades. Additionally, increased competition from fixed wireless and fiber-based networks might have negatively impacted subscriber growth and retention.
The ongoing shift away from traditional cable TV services has been a significant hurdle for Comcast. The cord-cutting phenomenon, driven by the proliferation of streaming alternatives, is likely to have further eroded the company's video subscriber base. Streaming platforms like Netflix, Disney+ and Apple TV+ continue to offer compelling content at competitive prices, putting pressure on CMCSA's traditional cable business.
Despite these challenges, Comcast has been actively pursuing strategies to diversify its offerings and maintain its market position.
The company's streaming platform, Peacock, is expected to have continued its growth trajectory. In the to-be-reported quarter, Comcast announced the launch of Xfinity StreamSaver, a streaming bundle of Peacock, Netflix and Apple TV+ for new and existing Xfinity Internet and TV customers.
With its diverse content offerings, including popular TV shows, sports programming and original series, Peacock is likely to have attracted more subscribers and generated increased revenues. In the first quarter, Peacock’s paid subscribers rallied 55% year over year to 34 million, including net additions of three million in the first quarter. Peacock’s revenues in the first quarter jumped 54% to $1.1 billion.
Comcast's Theme Park business is anticipated to have performed well, buoyed by strong occupancy rates across its global locations. The summer travel season is likely to have contributed to increased footfall at parks in Orlando, Hollywood, Osaka and Beijing.
CMCSA's business services segment is likely to have shown resilience, potentially benefiting from an expanding client base drawn to the company's advanced network infrastructure. In the to-be-reported quarter, Comcast Business announced new and cost-effective mobile plans aimed at enhancing value and performance for small business customers.
However, the broader economic environment, including inflationary pressures and concerns about consumer spending, is expected to have impacted Comcast's overall performance across its diverse portfolio of businesses.
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 +0.46% and a Zacks Rank #3 at present. 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 other stocks you can consider, as our model shows that these, too, have the right combination of elements to post an earnings beat:
Hims & Hers Health (HIMS - Free Report) has an Earnings ESP of +19.28% and sports a Zacks Rank #1 at present. You can see the complete list of today's Zacks #1 Rank stocks here.
Hims & Hers Health is scheduled to release second-quarter 2024 results on Aug 5. The Zacks Consensus Estimate for HIMS’ earnings is pegged at 5 cents per share, indicating a rise of 266.67% from the prior-year quarter's level.
Aspen Aerogels (ASPN - Free Report) has an Earnings ESP of +23.53% and flaunts a Zacks Rank #1 at present.
Aspen Aerogels is slated to release second-quarter 2024 results on Aug 7. The Zacks Consensus Estimate for ASPN’s earnings is pinned at 5 cents per share, indicating growth of 122.73% from the year-ago quarter's level.
DigitalOcean (DOCN - Free Report) has an Earnings ESP of +2.19% and sports a Zacks Rank #1 at present.
DigitalOcean is set to report second-quarter 2024 results on Aug 8. The Zacks Consensus Estimate for DOCN’s earnings is pegged at 39 cents per share, indicating a decline of 11.36% from the prior-year period’s reported figure.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.