Comcast (CMCSA) to Report Q1 Earnings: What's in the Cards?
Comcast CMCSA is set to report its first-quarter 2023 results on Apr 27, 2023.
The Zacks Consensus Estimate for first-quarter 2023 revenues is pegged at $29.26 billion, indicating a decline of 5.64% from the year-ago quarter’s reported figure.
The consensus mark for earnings has declined by 2.4% to 80 cents per share in the past 30 days, suggesting a fall of 6.98% from the figure reported in the year-ago quarter.
Comcast has a trailing four-quarter earnings surprise of 7.87%, on average.
Comcast Corporation Price and EPS Surprise
Comcast Corporation price-eps-surprise | Comcast Corporation Quote
Let’s see how things are shaping up prior to this announcement.
Factors at Play
Comcast’s top line in the to-be-reported quarter is expected to reflect a slowing broadband subscriber base due to the reversal of pandemic trends and increased competition from fixed wireless and fiber-based wireline networks.
The Zacks Consensus Estimate for Cable Communication – High-Speed Internet revenues is pegged at $6.25 billion, indicating a 3.3% growth from the figure reported in the year-ago quarter.
Comcast’s wireless business added 365K lines in the fourth quarter of 2022. The momentum is expected to have continued in the first quarter.
The consensus mark for Wireless revenues is pegged at $872 million, suggesting a 28.8% growth from the figure reported in the year-ago quarter.
The Zacks Consensus Estimate for Cable Communication revenues is pegged at $16.419 billion, indicating a decline of 0.73% from the figure reported in the year-ago quarter.
Comcast’s NBCUniversal revenues are expected to have weakened from the drop in television viewership and stiff competition. The company expects its media and ad revenues to decline, partially offsetting the ongoing recovery of theme parks’ revenues.
At the end of the fourth quarter, Peacock had more than 20 million paid subscribers in the United States.
Peacock’s EBITDA loss is expected to be wider in the to-be-reported quarter due to higher production costs of content.
The consensus mark for Theme Parks’ revenues is pegged at $1.78 billion, calling for a 14.36% growth from the figure reported in the year-ago quarter.
The Zacks Consensus Estimate for NBCUniversal’s revenues is pegged at $9.89 billion, indicating a 3.94% decline in growth from the figure reported in the year-ago quarter.
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. But that’s not the case here.
Comcast has an Earnings ESP of -0.42% and a Zacks Rank #3. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks to Consider
Here are some stocks you can consider, as our model shows that these have the right combination of elements to post an earnings beat:
DISH Network DISH has an Earnings ESP of +10.92% and a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.
DISH is set to announce first-quarter 2023 results on May 5, 2023. DISH Network shares are down 46% year-to-date.
Sony SONY has an Earnings ESP of +10.74% and a Zacks Rank #3.
Sony is set to announce fourth-quarter fiscal 2022 results on Apr 28, 2023. SONY’s shares have been up 20.6% year-to-date.
IMAX IMAX has an Earnings ESP of +10.12% and a Zacks Rank #3.
IMAX is set to announce first-quarter 2023 results on Apr 27, 2023. IMAX shares have been up 38% year-to-date.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
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