|Bid||0.00 x 800|
|Ask||46.69 x 1200|
|Day's Range||45.51 - 46.98|
|52 Week Range||34.67 - 47.74|
|Beta (5Y Monthly)||1.06|
|PE Ratio (TTM)||16.91|
|Earnings Date||Apr 22, 2020 - Apr 26, 2020|
|Forward Dividend & Yield||0.84 (1.77%)|
|Ex-Dividend Date||Jan 05, 2020|
|1y Target Est||51.11|
It looks like Comcast's efforts to chase broadband customers as a way to off-set cord-cutting, is paying off. The cable giant on Thursday topped Wall Street expectations on revenue and on profit, which came in at nearly $3.2 billion in the fourth quarter. Comcast has been vocal about its bid to counter cord-cutting with broadband customers, as viewers who stream TV and movies require a broadband connection to do so. The company gained 442,000 broadband subscribers in the quarter, stronger than expected. Also fueling revenue growth, British broadcaster Sky, which Comcast bought in 2018. However, cord-cutting continues to take its toll. Comcast lost 149,000 customers, more than Wall Street was expecting. Meanwhile, the company will be making its own entrance into the streaming world in April, when it launches its ad-supported service called 'Peacock.' Peacock will offer next-day access to current NBC series, as well as the entire catalog of shows like "Cheers," "30 Rock," and "Saturday Night Live." It will also offer classic movies.
About 8.9 million TV viewers watched the U.S. Senate impeachment trial of President Donald Trump on Wednesday, the first day Democrats laid out their case against the president, marking a significant drop from the roughly 11 million viewers who watched on Tuesday, according to Nielsen ratings data. The audience includes viewership from 1:00 pm to 5:00 pm EST on Walt Disney Co's ABC, AT&T Inc's CNN, ViacomCBS's CBS, Comcast Corp's NBC and MSNBC, and Fox Corp's Fox News. The third presidential impeachment trial in U.S. history is unlikely to end with a vote that removes Trump from office, as Republicans who control the Senate have continually voiced support for the president.
NBC Olympics and Snap Inc. are once again partnering to put coverage of the Games in the hands of millennials and Generation Z. The division of NBC Sports Group, itself part of Comcast Corp. (NASDAQ: CMCSA), will create four daily Snapchat shows during the Tokyo Olympics. The deal marks the third Olympics collaboration between the two companies following Rio 2016 and PyeongChang 2018. NBC plans to release more than 70 episodes for the Snap (NYSE: SNAP) app leading up to and during the event — more than triple the number compared to the 2018 Games — including for the first time two daily highlights programs that will be updated "in near real-time throughout the day." In addition, two unscripted Snapchat shows will release two new episodes per day: "Chasing Gold," which debuted during PyeongChang, following the journeys of Team USA athletes, and a new daily recap of the day's most memorable moments.
Streaming is taking over the world of media slowly but surely, and Comcast is pivoting to a strategy that emphasizes "slowly but surely"
The S&P 500 ended slightly higher and the Nasdaq eked out a record closing high on Thursday, helped by a jump in Netflix, while news about the coronavirus outbreak spreading from China and mixed earnings results kept a lid on the market. The S&P and the Nasdaq had both been trading down before news late in the session that Gilead Sciences Inc was assessing its experimental Ebola drug as a possible treatment for the virus.
Comcast Q4 earnings and revenue topped estimates on Thursday, boosted by broadband subscriber additions. Comcast stock fell after it forecast higher video subscriber losses in 2020.
Comcast executives delved into how many people have now signed up for its wireless service and whats ahead as it rolls out Super Nintendo Lands in Japan and the U.S.
Wall Street struggled for direction on Thursday as investors digested mixed earnings and developing news about the coronavirus outbreak emanating from China. Health officials in China put millions of people on lockdown in efforts to contain a coronavirus outbreak that has so far claimed 18 lives, but the World Health Organization (WHO) announced it was "a bit too early" to declare the virus a global health emergency. Additionally, a spate of earnings reports, while beating Street estimates in many cases, have failed to impress investors.
Quarterly earnings results from Comcast, Southwest, American Airlines, and more. And a look at why Pure Storage, Inc. (PSTG) is a Zacks Rank 1 (Strong Buy) stock right now, as it trades under $20 a share...
Shares of Netflix Inc. are up more than 5% in midday trading Thursday, and Stifel analyst Scott Devitt said the latest results from Comcast Corp. should be a hopeful signal for the streaming giant. "Comparing Netflix to introductory pricing and/or inferior over-the-top products as a justification for worrying about the competitive climate is missing the fact that the cable, telecom, and satellite video industry (where all the money is) is shrinking with no end in sight," wrote Devitt, who rates Netflix a buy with a $390 target price. Comcast on Thursday reported a net loss of 133,000 residential video subscribers, whereas it had only lost 19,000 in the year-earlier quarter. Comcast's stock is down 3.6% in Thursday trading, while the S&P 500 is off 0.3%.
The earnings report underlined the diverging fortunes of the two halves of its portfolio: a robust cable business and a media business facing pressures.
Months before its official launch, Comcast Corp.’s new Peacock service had a starring role on the company’s latest earnings call. That’s not necessarily a good thing.
Comcast shed 149,00 subscribers from its cable division last quarter, and that could mean good news for Netflix, which identifies its biggest competitor as linear TV.
The themed land will play a major role in the company's overall theme park plans — including the Central Florida attractions.
The ECB today has decided to keep its deposit rate of -0.5% and refinance operations of 0.0% unchanged, in order to further coerce inflation to track with analysts' target.
(Bloomberg Opinion) -- Cord-cutting isn’t stopping. As it turns out, that’s not such bad news for cable giants like Comcast Corp. It is, however, for AT&T Inc. The streaming wars intensified in the fourth quarter amid Walt Disney Co.’s advertising blitz for its new Disney+ service that overtook billboards, shopping malls, public transit and Twitter feeds. At the same time, Apple Inc. began giving away Apple TV+ free to anyone buying a new iDevice of some sort. Comcast is the first of the traditional media giants to report results for this period, giving a glimpse on Thursday morning at how the pay-TV industry fared as consumers were given more reasons than ever before to ditch cable, skip the box office and start streaming from their couches.Comcast itself reported a generally strong quarter: It signed up 442,000 net new internet customers, one of its biggest boosts ever, while the NBCUniversal media networks took in higher ad revenue and guests also spent more money at its theme parks. Film was a weak spot, with adjusted Ebitda in that business dropping nearly 50%, as its musical “Cats” bombed in theaters. Even more telling, though, was that Comcast’s cable unit lost more video subscribers than expected — 149,000, mostly residential — a sour indicator for AT&T, which is scheduled to report its own results on Jan. 29. “We expect higher video subscriber losses this year,” Brian Roberts, chairman and CEO of Comcast, said on Thursday’s earnings call. (Even Netflix Inc. is forecasting higher churn in the U.S., after subscriber gains slowed.)Although Comcast may be best known (or hated) by consumers for its cable-TV service, that’s actually its least relevant business. Internet users at Comcast have outnumbered video subscribers since at least 2015, and Comcast management has done a good job of shifting attention to the growth coming from broadband. In unveiling its Peacock app last week, Comcast also gave investors confidence that it’s taking a different tack in streaming than its rivals, choosing to go the free, ad-supported route, which will help Peacock garner eyeballs and not have to compete on price like the others are. AT&T is another story. The wireless carrier is carrying a boatload of debt from its 2018 acquisition of Time Warner, a deal that tied AT&T’s fortunes to the more volatile and uncertain future of pay TV. Its DirecTV/Entertainment Group — about 25% of total company revenue — has lost customers more rapidly than the rest of the industry on account of price hikes aimed at lifting profit and reducing debt. So if video customers were abandoning Comcast last quarter, they were most certainly dumping DirecTV, a technologically inferior product.Even AT&T TV Now, a virtual skinny-bundle service (formerly known as DirecTV Now), has been shrinking as customers look to cheaper options. AT&T’s WarnerMedia division will introduce HBO Max in May for a monthly subscription price of $15, the same rate as regular HBO but with the added bonus of a library of Warner Bros. films, content from its Turner networks, old episodes of “Friends” and “The Big Bang Theory” and a slate of original content. But HBO is still the main reason to get HBO Max, and so the question becomes, does everyone who wants HBO already have it? AT&T is investing $2 billion in the product this year, an expense that will ramp up to $4 billion by 2024. It’s not expected to start making money until the following year.Between the debt and streaming foray, the new AT&T still has a lot to prove — and a lot to spend. It won’t help matters if its media networks take a big hit from cord-cutting and if a chunk of those cord-cutters are fleeing DirecTV specifically.To contact the author of this story: Tara Lachapelle at firstname.lastname@example.orgTo contact the editor responsible for this story: Beth Williams at email@example.comThis column does not necessarily reflect the opinion of Bloomberg LP and its owners.Tara Lachapelle is a Bloomberg Opinion columnist covering the business of entertainment and telecommunications, as well as broader deals. She previously wrote an M&A column for Bloomberg News.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Citrix Systems, Paycom and STMicroelectronics gained, while Travelers weighed on the Dow Jones today and global markets traded lower on concerns over China.