Comcast Says Oppenheimer Grossed More than $900M; Loses Broadband Subs In Q3, Stock Tanks
Portfolio Pulse from Anusuya Lahiri
Comcast Corp reported a Q3 FY23 revenue growth of 0.9% YoY to $30.12 billion, beating the consensus of $29.69 billion. Adjusted EPS of $1.08 beat the consensus of $0.95. However, the company lost 18,000 broadband customers and 490,000 total video customers. The film 'Oppenheimer' grossed over $900 million in the worldwide box office in Q3. Comcast's shares traded lower by 6.43% at $40.01 premarket on the last check Thursday.
October 26, 2023 | 1:23 pm
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NEGATIVE IMPACT
Despite beating revenue and EPS estimates, Comcast lost broadband and video customers in Q3 FY23. The company's stock traded lower by 6.43% premarket.
Comcast's Q3 FY23 results beat estimates, but the loss of broadband and video customers is a negative signal, potentially indicating increased competition or customer dissatisfaction. This could have led to the premarket drop in the company's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100