Comcast stock ticks higher following earnings beat, 'Super Mario Bros. Movie' hype
Yahoo Finance Live discusses a rise in Comcast stock following an earnings report which exceeded investor expectations after the success of the "Super Mario Bros. Movie."
Video Transcript
- So we are looking at Comcast. Shares of cable giant Comcast higher following an earnings beat this morning for the first quarter. Overall revenue was dinged a bit. But still, the numbers were better than expected. You're seeing Comcast perform quite well today, that stock surging double digits, up 10% on the day. Some of that growth in streaming. US paid Peacock subscribers jumped more than 60% year over year, so strong showing on the streaming side there at Comcast.
- Yeah, theme park strong. New record of adjusted EBITDA for a first quarter. Brian Roberts did, as you would expect, comment on the departure of Jeff Shell, calling it a tough moment for the company. No word about a potential replacement or if they even will. But it sounds like if they will, it will come from in house.
The big win there, you've got to talk about that movie "Super Mario Brothers." It is a huge performer for Universal. They are over the $900 million mark globally. And if you can believe this, on their way not just towards over a billion, which will happen in the next 24 to 48 hours, potentially becoming the highest grossing animated film of all time at this pace, which is really hard to wrap your mind around. When you think about "Frozen," when you think about "Lion King," when you think about iconic--
- --movies. I know. "Super Mario" is going to be in there.
- It may top them all.
- Yes, it may. People want to go back to the movies. People are ready to just have that experience again, and Comcast the beneficiary of people returning en force to just things outside. We want to be outside. Outside has been open, and now people are just more excited about that.
I haven't seen it yet. And I know-- it even sounds interesting to me. I mean, my kid saw it once. He's ready to see it again. So I guess Mommy's got a movie in store.
- I'll check that one out. Now, the questions ahead. What happens with Hulu? That has been the question for quite some time with Comcast between they and Disney. No real indication about what's going to happen there.
And the other big one is they expect to be a player in the NBA talks. There are, of course, the favorites-- ESPN and TNT Turner Sports, WBD-- hanging on as the existing rights holders. But NBC wants back into this game. It's expected to fetch between $50 and $75 billion per year for NBA rights. Can Comcast get in that league? Do they have that type of spending? Is Peacock starting to get close to revenue positive? A lot of questions for whomever might replace Jeff Shell or if it just stays in house.
All right, I think we got some--
- We've got some breaking earnings coming in right now, right?
