2024-04-27 04:09:27 ET
Summary
- Comcast's Q1 earnings beat expectations, with non-GAAP EPS of $1.04 and revenue of $30.1 billion.
- The company saw growth in broadband revenue, wireless subscribers, and revenue from its streaming service, Peacock.
- Despite the positive results, Comcast's stock price fell due to concerns about declining cable subscribers and an adjusted EBITDA loss for Peacock.
Comcast ( CMCSA ) provided Q1 earnings this week. Despite beating on the top and bottom line, the share price fell 6% in one day, resulting in the lowest close since April 26, 2023.
The stock is now down over 10% this month and has fallen nearly 14% in 2024.
Bears have long pointed to the rapid decline in the cable and media businesses as an inexorable headwind that will derail the company. Furthermore, some point to developments highlighted in this quarter’s results as proof that management’s growth initiatives are failing to mitigate the loss in cable subscribers....
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For further details see:
Comcast: Why The Stock Is Falling, And Why I'm Buying