42.87 -0.01 (-0.02%)
After hours: 5:39PM EDT
|Bid||42.61 x 900|
|Ask||43.00 x 1200|
|Day's Range||42.42 - 43.13|
|52 Week Range||31.71 - 47.74|
|Beta (5Y Monthly)||0.98|
|PE Ratio (TTM)||17.22|
|Earnings Date||Oct 22, 2020 - Oct 26, 2020|
|Forward Dividend & Yield||0.92 (2.15%)|
|Ex-Dividend Date||Oct 06, 2020|
|1y Target Est||48.07|
Three large-cap stocks that have helped the market rally in recent months are Facebook (NASDAQ: FB), Comcast (NASDAQ: CMCSA), and Mastercard (NYSE: MA). There was all sorts of worry about advertising revenue as the pandemic got rolling, and Facebook in particular, with its reliance on small business spending, was a focal point. Total revenue grew 11% year over year with the advertising business up 10% to $18.3 billion and "other" (mostly from Oculus) up 40% to $366 million.
More than 10 million households have signed up for Peacock, the new streaming service from Comcast's (NASDAQ: CMCSA) NBCUniversal. "Not only are more people signing up than we projected, but they are watching more frequently and engaging much longer than we projected," Jeff Shell, CEO of NBCUniversal, told analysts. At its investor day in January, management said it expected to have 30 million to 35 million active accounts by 2024.
The world's most prolific entertainment company is getting ready to prove that it's more than just a Mickey Mouse company. Let's go over some of the questions that Disney may be asked on Tuesday. Disney's theme parks have been opening across the world over the past three months.
Comcast (NASDAQ: CMCSA) is turning the page. Long ranked as one of America's most hated companies because of complaints about its cable service, it's trying to move beyond its identity as the country's biggest cable provider and instead focus on streaming video. On Thursday's second-quarter earnings call, the company announced a shift in its emphasis from the linear TV business to streaming -- a move that comes hard on the heels of its formal launch of the Peacock streaming network nationally, and just days after it forged a landmark deal with cinema chain owner AMC Entertainment (NYSE: AMC) to dramatically shrink the length of time that movies must be given theatrical exclusivity before they can be shown by other means.
NBCUniversal and AMC’s historic theatrical deal is groundbreaking for the industry — but it could spell trouble for smaller theater chains across the United States.
GSBA, Washington State’s LGBTQ & Allied Chamber of Commerce, and Comcast Washington today launched the Ready for Business Fund – a relief effort that provides $2,500 grants to businesses with diverse owners that seek financial assistance.
Just because Netflix seems lightyears ahead, doesn’t mean its fellow streamers can’t catch-up.
Yahoo Finance's Alexandra Canal breaks down what's next for the theater industry after NBCUniversal and AMC ink a historic theatrical deal.
I've been recommending Comcast (NASDAQ:CMCSA) for this entire year. After Thursday morning's earnings report, I like CMCSA stock even more.Source: Ken Wolter / Shutterstock.com The market, however, saw it differently. Comcast's stock actually declined 0.5% in trading Thursday.It may have been that a rally into the release preempted some of the potential optimism. Comcast stock had bounced about 16% from late June lows. That rally came despite a rising number of cases of the novel coronavirus, a spike which, in theory, should add further pressure to the company's theme parks business.InvestorPlace - Stock Market News, Stock Advice & Trading TipsBut from here, earnings were strong enough to suggest that CMCSA stock is just taking a breather. The report was easily good enough to move the stock higher. Just because the move didn't happen on Thursday doesn't mean it won't happen soon. A Winner or a Loser?The simple bull case for Comcast stock is that it's a pandemic winner, not a loser. That case seems somewhat counterintuitive.After all, we've seen plenty of evidence that "stay at home" orders accelerated cord-cutting and adoption of streaming services. For instance, Netflix (NASDAQ:NFLX), posted blowout subscriber numbers in both the first and second quarters.That in turn would seem to be a significant negative for Comcast's video business. The company closed 2019 with over 20 million video subscribers, according to the company's Form 10-K filed with the U.S. Securities and Exchange Commission. It lost more than 2% of those subscribers in the first quarter alone. * 7 Big Data Stocks to Watch for the Cloud Era Meanwhile, Comcast's Universal theme parks have taken a hit. So, too, has its Filmed Entertainment business, as theaters remain closed worldwide. And cord-cutting is pressuring the NBCUniversal unit.But the good news here outweighs the bad. Yes, Comcast is losing video subscribers -- but those subscribers are not all that profitable. As I've noted before, thanks in part to onerous rights fees for live sports, rivals Charter Communications (NASDAQ:CHTR) and Cable One (NYSE:CABO) have given up chasing those subscribers at all.Worth noting: both of those stocks are up in 2020, with CHTR gaining 16% and CABO 19%.Those companies admittedly don't have film or theme park businesses. But those two segments in 2019 combined for less than 10% of total profit.Meanwhile, the pandemic has accelerated several trends that make Comcast's broadband business even more valuable. Video streaming? It requires broadband. Videoconferencing via Zoom Video (NASDAQ:ZM)? The same. And with the Peacock streaming service offsetting pressure on NBCUniversal, Comcast seems exceedingly well-positioned for the "new normal." Earnings Support the Bull CaseFrom here, Comcast's second quarter seems to support that bull case. It's not just that consolidated results topped expectations, though they did. Despite the pandemic and investments behind Peacock, adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) declined just 9% year-over-year.Meanwhile, Comcast actually added 217,000 total subscribers. The high-speed internet business had its best second quarter subscriber figure in 13 years. There's proof of the value of Comcast's core franchise.In Cable Communications as a whole (which includes both video and Internet customers), adjusted EBITDA actually increased 5.5% year-over-year despite a decline in revenue. That's proof that a) Comcast can manage video declines and b) that its pricing power is likely going to grow.Elsewhere, profits actually increased in the Cable Networks, Broadcast Television and even the Filmed Entertainment units.And Peacock got out of the gate strong, with 10 million subscribers. Chief executive officer Brian Roberts said the early results were ahead of his company's expectations, and they were likely ahead of the market's as well.This was a good quarter for Comcast. And it's a quarter that shows that the quickly changing world is a positive for Comcast, not a negative as investors feared. Long-Term Upside in CMCSA StockBut even with the recent rally, Comcast's stock isn't treated that way. Shares are down almost 3% so far this year, and sit 8.5% off January highs.I see little reason why Comcast can't reach new all-time highs. In fact, I would argue it should get there quickly. That in turn suggests at least 10% appreciation -- with a 2%-plus dividend yield on top.That kind of upside might not seem Earth-shattering. But for a defensive name in a market near all-time highs, it's certainly attractive. And over the long haul, as data-consuming trends accelerate, so too will Comcast's pricing power and profits.Again, Q2 strongly supports that long-term case. That's what mattered on Thursday, not just a bit of variance relative to Wall Street expectations. I expect investors soon will figure that out -- and CMCSA stock will resume its recent rally.Matthew McCall left Wall Street to actually help investors -- by getting them into the world's biggest, most revolutionary trends BEFORE anyone else. Click here to see what Matt has up his sleeve now. As of this writing, Matt did not hold a position in any of the aforementioned securities. More From InvestorPlace * Why Everyone Is Investing in 5G All WRONG * America's 1 Stock Picker Reveals His Next 1,000% Winner * Revolutionary Tech Behind 5G Rollout Is Being Pioneered By This 1 Company * Radical New Battery Could Dismantle Oil Markets The post How Earnings Amplify the Bull Case for Comcast Stock appeared first on InvestorPlace.
(Bloomberg) -- Charter Communications Inc. shares hit a record after the cable company posted a surprising gain in TV and internet subscribers due in part to Covid-19 service offers and cheaper video packages.The second-largest U.S. cable operator swung to a gain of 102,000 residential video subscribers and added 842,000 residential internet customers in the second quarter. Analysts had expected it to lose 129,000 video customers while adding 439,530 new broadband subscribers.Charter shares rose as much as 5.5% to $594.31 in New York trading Friday. The stock is up more than 16% this year through Thursday.The gains are a rare bright spot in the pay-TV industry, which has seen steep subscriber declines in recent years as customers turned to popular streaming services like Netflix Inc. and Walt Disney Co.’s Hulu.About 90% of the customers Charter added through Covid-19 relief programs have “remained as either paying customers or are still on the free offer,” Chief Financial Officer Chris Winfrey said on a call with analysts. “The vast majority of them are paying, and 50% of them altogether had actually taken additional products.”Charter’s growth is particularly notable at a time when the competition for viewers has gotten even more heated. Millions of customers have signed up for new offerings, including Disney+, AT&T Inc.’s HBO Max and Comcast Corp.’s Peacock, which made its national debut July 15 and has collected more than 10 million sign-ups since its limited launch in April.“Though we see risk in 3Q as pledges come off, we believe Charter remains well positioned for continued growth,” Mike McCormack, an analyst at Guggenheim Securities, wrote in a note.Outpacing PeersCharter’s subscriber gains also outpaced those of its pay-TV peers. AT&T, which operates DirecTV, said last week it lost 886,000 subscribers in the second quarter. On Thursday, Comcast reported shedding 477,000 TV customers in the period.Charter, which sells internet, phone and TV service under the Spectrum brand exceeded profit estimates with earnings of $3.63 a share on $11.7 billion in revenue. Analysts expected earnings of $2.46 and $11.6 billion in sales.The company is still hurting from Covid-19, due to closed businesses and canceled sporting events. The disruption erased about $82 million from Charter’s bottom line and cut about $282 million off total sales, according to the company’s earnings presentation.Charter boosted spending in the second quarter a bit more than expected. Total capital spending was $1.88 billion, compared with analysts’ prediction of $1.62 billion. The cable shop has spent $3.34 billion on capital investment in the first half of the year and is on pace to finish below the $7.2 billion total last year. Capital spending was $9.1 billion in 2018.(Updates with CFO comment in fifth paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
The pandemic-influenced selling months of May, April, and June brought intense pressure to Comcast's (NASDAQ: CMCSA) NBC Universal division. The unit, which is home to Universal Studios theme parks, the Comcast cable broadcasting service, and the studios that churn out film releases, endured a 25% revenue decline as COVID-19 shelter-in-place mandates pressured each of these businesses. The cable segment saw sales fall 15%, while revenue dropped 18% at the film division and plunged by 94% in the theme park unit.
Strong internet customer growth led Comcast (CMCSA) to top Street estimates. On July 30, the media company reported 2Q earnings of $0.69 per share, beating analysts’ estimates of $0.55. Revenues of $23.7 billion also came ahead of the consensus estimates of $23.6 billion in 2Q.Though Comcast continued to witness video customer net losses of 477,000, it reported better-than-expected internet customer additions of 323,000 in the quarter. Comcast’s new ad-supported streaming service, Peacock, recorded 10 million subscribers since April.Comcast’s CEO Brian L. Roberts commented “The solid results that we delivered in the quarter highlight the resilience of our company. Cable delivered record second-quarter customer relationship net adds, driven by the best second-quarter high-speed internet net adds in 13 years.”Following the earnings, Credit Suisse analyst Douglas Mitchelson raised the price target to $50 (14.5% upside potential) from $48. Pivotal Research analyst Jeffrey Wlodarczak also lifted the price target to $52 (19.1% upside potential) from $48.Wlodarczak, in a research note, said that “Comcast is weathering the Covid-19 induced economic storm better than expected with the core growth engine cable chugging along nicely and NBC is set-up for a healthy results rebound in ’21. Our view against this backdrop that Comcast shares remain simply too cheap at 13X ’21 adjusted earnings.”Currently, the Street has a cautiously optimistic outlook on the stock. The Moderate Buy analyst consensus is based on 11 Buys and 5 Holds. The average price target of $47.62 implies an upside potential of 9.1%. (See CMCSA stock analysis on TipRanks).Related News: Apple Up 6% After-Hours On Blowout Quarter; Strong iPhone Demand Amazon Rises 5% As ‘King Of E-Commerce Shines Amidst The Pandemic’ Facebook Soars 6% After-Hours On Strong Beat, Ad Resilience More recent articles from Smarter Analyst: * Expedia Incurs Hefty Q2 Loss; Top Analyst Sticks To Buy Call * Molson Coors Delivers Q2 Earnings Beat Despite Covid-19 Fallout * Eli Lilly Drops 5% On Weak 2Q Sales; Analyst Says Hold * Flex Jumps 5% In Extended Trading On Earnings Beat, Upbeat Guidance
Joining me on this morning's call to provide a detailed review of our results and answer analysts' questions are Brian Roberts and Mike Cavanagh as well as Dave Watson, Jeff Shell and Jeremy Darroch. Let me first refer you to slide two, which contains our safe harbor disclaimer.
(Bloomberg) -- NBCUniversal’s Peacock signed up 10 million customers in its first three months, making the new streaming service a rare bright spot at Comcast Corp.’s pandemic-ravaged entertainment division.Comcast disclosed the initial results while reporting its second-quarter earnings on Thursday. NBC has said it hopes Peacock will reach 30 million to 35 million active users by 2024. The service, which is free and supported by advertising, made its debut to Comcast subscribers in April and expanded nationwide on July 15.While it’s early, exclusive and original titles have been among the top draws on the fledgling service, said Matt Strauss, chairman of Peacock and NBCUniversal Digital Enterprises. The No. 2 series is “Brave New World,” adapted from the novel by Aldous Huxley, and the top movie is “Psych 2,” based on the USA Network comedy-drama show. The most-watched series is “Yellowstone,” a Paramount Network drama starring Kevin Costner.Peacock will have exclusive streaming rights to “The Office” in January. The long-running NBC series, a former streaming megahit on Netflix Inc., will relaunch with previously unreleased content.New StructureWith Comcast’s core cable division losing hundreds of thousands of TV subscribers, company executives said they would soon announce a new structure for the business focused on streaming. They didn’t give any details. The transition will be “uncomfortable” but necessary to give customers “more flexibility to do and see what they want,” Chief Executive Officer Brian Roberts said on a call with analysts.While Peacock is Comcast’s flagship streaming service, it’s still unavailable through Roku Inc. and Amazon.com Inc.’s Fire TV, the most popular connected-TV platforms.AT&T Inc.’s HBO Max, which aims to have 50 million subscribers within five years, has 4.1 million activations so far, the company said last week. It also isn’t available on Roku and Fire.While consumers have been testing out Peacock, NBCUniversal’s theme-park, TV and film businesses have struggled during the pandemic. The unit’s quarterly revenue declined 25% last quarter to $6.1 billion, Comcast said Thursday.NBCUniversal reached a landmark deal with AMC Entertainment Holdings Inc. earlier this week to cut exclusive theater runs for new movies to 17 days. It’s a “minimum” window and a new model that the company would like to take to other theater partners and other countries, NBCUniversal CEO Jeff Shell said on the earnings call Thursday. If a movie is having a good run, it will stay in theaters longer, Shell said.Parks SufferingThe company’s theme parks have been hit particularly hard by the virus, recording a loss of nearly $400 million in the quarter. Universal’s theme park in Florida reopened in June but attendance has been thin due to concerns about the coronavirus.Comcast’s internet business, however, continues to hum along as people rely on broadband connections for entertainment as well as working and learning from home. Comcast added 323,000 internet customers in the quarter, up 54% from a year ago.That number didn’t include more than 600,000 customers who got internet free or got a break on paying their monthly bills through programs aimed at helping keep people connected during the pandemic. AT&T and Verizon Communications Inc. last week similarly reported swaths of nonpaying customers.What Bloomberg Intelligence Says“The loss of over 1.5 million video subscribers in 2Q at Comcast, AT&T and Verizon shows the continued pressure on the pay-TV bundle. While the return of live sports in 2H could offer some relief, the economic toll of Covid-19 and steady increases in the prices of pay-TV packages will keep cord-cutting levels elevated, in our view.”\--Geetha Ranganathan, media analystClick here to read the research.Comcast’s total quarterly revenue of $23.7 billion and adjusted profit of 69 cents a share both surpassed analysts’ estimates, and the company maintained its dividend. Its shares were down 0.7% to $43.58 at 3:36 p.m. in New York.The company lost 477,000 video subscribers in the quarter, more than double the losses from the same period a year ago. Comcast has raised TV prices and expressed little interest in keeping cost-conscious customers.The video losses could also be a sign that more people cut the cord because some major sports weren’t playing during the quarter, or because they lost income during a pandemic that’s led to high unemployment.(An earlier version of this story corrected the signups figure.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Comcast's (CMCSA) Q2 earnings results reflect growth in high-speed Internet subscriber base and a strong momentum in wireless amid coronavirus crisis.
Stocks are taking a tumble Thursday, as a bevy of earnings reports couldn’t distract from grim GDP figures that point to the continuing fallout from the Covid-19 crisis. The Dow Jones Industrial Average is down 1.2%.
Yahoo Finance's Adam Shapiro and Julie Hyman break down the latest earnings from Comcast, P&G, and UPS.
Comcast’s Xfinity high-speed internet business is on pace for a record year, while the pandemic hit its NBCUniversal media segment hard.
NBCUniversal's television group is adopting a new structure, under which it will "shift resources from linear to streaming," NBCU CEO Jeff Shell said on Comcast's second-quarter 2020 call. In May, Shell put TV programming boss Mark Lazarus in charge of a new group, NBCUniversal Television and Streaming, overseeing Peacock along with the networks, stations and […]
Over the past three months, shares of Comcast Inc. (NASDAQ: CMCSA) moved higher by 24.83%. Before having a look at the importance of debt, let's look at how much debt Comcast has.Comcast's Debt Based on Comcast's financial statement as of April 30, 2020, long-term debt is at $105.77 billion and current debt is at $2.97 billion, amounting to $108.74 billion in total debt. Adjusted for $8.52 billion in cash-equivalents, the company's net debt is at $100.23 billion.To understand the degree of financial leverage a company has, investors look at the debt ratio. Considering Comcast's $262.42 billion in total assets, the debt-ratio is at 0.41. As a rule of thumb, a debt-ratio more than 1 indicates that a considerable portion of debt is funded by assets. A higher debt-ratio can also imply that the company might be putting itself at risk for default, if interest rates were to increase. However, debt-ratios vary widely across different industries. For example, a debt ratio of 40% might be higher for one industry, whereas normal for another.Why Investors Look At Debt? Besides equity, debt is an important factor in the capital structure of a company, and contributes to its growth. Due to its lower financing cost compared to equity, it becomes an attractive option for executives trying to raise capital.However, due to interest-payment obligations, cash-flow of a company can be impacted. Having financial leverage also allows companies to use additional capital for business operations, allowing equity owners to retain excess profit, generated by the debt capital.See more from Benzinga * Comcast: Q2 Earnings Insights * Comcast's Earnings: A Preview * Benzinga's Top Upgrades, Downgrades For July 1, 2020(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comcast (CMCSA) delivered earnings and revenue surprises of 25.45% and 0.24%, respectively, for the quarter ended June 2020. Do the numbers hold clues to what lies ahead for the stock?
Shares of Comcast (NASDAQ:CMCSA) rose 2% in pre-market trading after the company reported Q2 results.Quarterly Results Earnings per share decreased 11.54% over the past year to $0.69, which beat the estimate of $0.55.Revenue of $23,715,000,000 decreased by 11.70% year over year, which beat the estimate of $23,570,000,000.Looking Ahead Comcast hasn't issued any earnings guidance for the time being.Revenue guidance hasn't been issued by the company for now.Details Of The Call Date: Jul 30, 2020View more earnings on CMCSATime: 08:30 AMET Webcast URL: https://edge.media-server.com/mmc/p/q73bjjyyPrice Action 52-week high: $47.74Company's 52-week low was at $31.70Price action over last quarter: Up 19.93%Company Profile Comcast is made up of three parts. The core cable business owns networks capable of providing television, Internet access, and phone services to roughly 59 million U.S. homes and businesses, or nearly half of the country. About half the homes in this territory subscribe to at least one Comcast service. Comcast acquired NBCUniversal from General Electric in 2011. NBCU owns several cable networks, including CNBC, MSNBC, and USA, the NBC broadcast network, several local NBC affiliates, Universal Studios, and several theme parks. Sky, acquired in 2018, is the dominant television provider in the U.K. and has invested heavily in exclusive and proprietary content to build this position. The firm is also the largest pay-television provider in Italy and has a presence in Germany and Austria.See more from Benzinga * Comcast's Earnings: A Preview * Benzinga's Top Upgrades, Downgrades For July 1, 2020(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.