Comcast (CMCSA) earnings Q1 2022
Brian Roberts is chairman and chief executive of Comcast Corp.
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ComcastThe company will announce the first quarter earnings prior to Thursday’s opening bell.
This is what Wall Street expects:
- Earnings: According to Refinitiv, 80c per share
- Revenue: 30.5 billion according to Refinitiv
- High-speed Internet customersAccording to FactSet analysts, 229,000 net increases
Comcast’s broadband segment will be closely watched by analysts. Comcast is forecast to add 229,900 new high-speed Internet customers in the first quarter. This figure is significantly lower than the 461,000 that it acquired. in the same quarter last year.
Brian Roberts, Comcast’s CEO, stated that the effects of the coronavirus epidemic would still be felt in the broadband market this year during a conference call.
Roberts stated that “within this environment we will strike a right balance between subscriber purchase against a large, expanding addressable market and long-term profitable growth.”
Although the broadband market may not be as strong, Bank of America Securities analysts stated earlier in this month to their clients that Comcast was “an attractive equity” and “defensive amidst market chaos.” Rising inflation and Russia’s invasion into Ukraine have had adverse effects on markets. There has also been concern about the Federal Reserve’s plan to increase interest rates and make it easier for bond-buying.
Bank of America cited Comcast’s Cable, Sky, and Universal divisions as bright spots in the quarter. This was after the company suffered from closures and reduced capacity due to the pandemic.
— CNBC’s Michael Bloom contributed reporting to this story.
Disclosure: CNBC’s parent NBCUniversal, owned by Comcast, is owned and controlled by Comcast.