CMCSA - Comcast's Earnings Report Was a Mixed Bag. With Revenue Falling Can the Tech Giant Regain Its Footing?
2024-07-26 10:41:08 ET
Comcast (NASDAQ: CMCSA) unveiled its latest set of quarterly earnings on Tuesday, and these provided reasons to support both the bull and the bear cases for the stock. There were a few bright spots in those results for the optimists, but also enough to support the views of the naysayers.
One of the more notable downbeat developments was the entertainment conglomerate's revenue slide. Does this indicate that the bears are right with Comcast?
Comcast posted a mixed second quarter as far as the two headline numbers were concerned. Its revenue for the period clocked in at just under $29.7 billion, which was some distance from the over $30 billion consensus analyst estimate. On the other hand, the entertainment giant's non-GAAP (adjusted) net income scored a beat; at over $4.7 billion it equated to $1.21 per share, notably higher than the average prognosticator forecast of $1.12.
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Comcast's Earnings Report Was a Mixed Bag. With Revenue Falling, Can the Tech Giant Regain Its Footing?