Telecommunications and media company Comcast (NASDAQ: CMCSA) will be reporting earnings this Thursday before market hours. Here’s what to look for.
Comcast missed analysts’ revenue expectations last quarter, reporting revenues of $30.88 billion, up 1.7% year on year. It was a softer quarter for the company, with a significant miss of analysts’ revenue estimates and a significant miss of analysts’ adjusted operating income estimates. It reported 31.26 million domestic broadband customers, down 1.8% year on year.
Is Comcast a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Comcast’s revenue to grow 7.1% year on year, improving from its flat revenue in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings.
Looking at Comcast’s peers in the consumer discretionary segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Monarch delivered year-on-year revenue growth of 8.9%, beating analysts’ expectations by 5.2%, and Levi's reported revenues up 14.1%, topping estimates by 5.6%. Levi's traded up 10.7% following the results.
Read our full analysis of Monarch’s results here and Levi’s results here.
There has been positive sentiment among investors in the consumer discretionary segment, with share prices up 11.3% on average over the last month. Comcast’s stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $32.68 (compared to the current share price of $29.13).
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