Comcast's Q2 Earnings: Studios And Theme Parks Pull Revenue Lower, Broadband And Video Subs Fall
Portfolio Pulse from Anusuya Lahiri
Comcast Corp (NASDAQ:CMCSA) reported a 2.7% decline in Q2 revenue to $29.69 billion, missing analyst estimates. Adjusted EPS beat expectations at $1.21. Revenue from Studios and Theme Parks fell significantly. Broadband and video subscribers also declined, while Peacock subscribers grew but missed estimates. Comcast shares fell 5.83% following the report.
July 23, 2024 | 2:28 pm
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NEGATIVE IMPACT
Comcast reported a 2.7% decline in Q2 revenue to $29.69 billion, missing analyst estimates. Adjusted EPS beat expectations at $1.21. Revenue from Studios and Theme Parks fell significantly. Broadband and video subscribers also declined, while Peacock subscribers grew but missed estimates. Comcast shares fell 5.83% following the report.
The decline in revenue and subscriber losses in key segments like broadband and video, along with missed revenue estimates, are negative indicators. Despite beating EPS estimates, the overall financial performance and market reaction suggest a short-term negative impact on the stock price.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
POSITIVE IMPACT
Comcast lost 419,000 video subscribers due to rising cord-cutters seeking out streaming giants like Netflix Inc (NASDAQ:NFLX).
The loss of Comcast video subscribers to streaming services like Netflix indicates a potential positive impact on Netflix's subscriber growth and market position.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 20