Comcast set to report earnings earlier than the bell


Brian Roberts, chairman and chief govt officer of Comcast Corp.

Patrick T. Fallon | Bloomberg | Getty Photographs

Comcast is ready to announce its first-quarter earnings earlier than the opening bell on Thursday.

This is what Wall Road is anticipating:

  • Earnings: 80 cents per share, in line with Refinitiv
  • Income: $30.5 billion, in line with Refinitiv
  • Excessive-speed web clients: 229,000 web additions, in line with analysts surveyed by FactSet

Analysts will likely be paying shut consideration to Comcast’s broadband phase. The corporate is predicted so as to add 229,000 new high-speed web clients through the first quarter, properly wanting the 461,000 it added in the identical quarter final 12 months.

In a convention name final quarter, Comcast CEO Brian Roberts stated broadband market situations this 12 months would proceed to really feel the impacts of the coronavirus pandemic.

“Inside this atmosphere, we’ll strike the best steadiness between subscriber acquisition towards a big and increasing addressable market in addition to long-term worthwhile development,” Roberts stated.

Whereas the broadband phase might stay subdued, Financial institution of America Securities analysts stated in a observe to shoppers earlier this month that Comcast is “a gorgeous fairness and defensive amidst market turmoil.” Markets have been adversely affected by rising inflation, Russia’s invasion of Ukraine, and unease over the Federal Reserve’s plans to hike rates of interest and ease bond-buying.

Financial institution of America pointed to Comcast’s Cable and Sky divisions as potential shiny spots through the quarter, together with its Common theme park enterprise, which has lately bounced again after it was hit by closures and capability reductions stemming from the pandemic.

On Wednesday, Comcast introduced a brand new three way partnership with Constitution Communications that may see its Xfinity Flex streaming {hardware} obtainable to broadband subscribers of each corporations.

— CNBC’s Michael Bloom contributed reporting to this story.

WATCH: ‘The pendulum has swung too far to the detrimental on streaming,’ says Guggenheim’s Michael Morris

Disclosure: Comcast owns CNBC’s guardian NBCUniversal.

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