Movement Alert|Comcast Rises 3.74% in Pre-Market Trading, Q2 Revenue and Adjusted EPS Both Beat Estimates

Market Focus07-23 18:09

On July 23, Comcast rose 3.74% in pre-market trading, trading at $24.21 per share. The movement was driven by the company's Q2 earnings release, which showed both revenue and adjusted earnings per share exceeding Wall Street consensus expectations.

Specifically, Comcast reported adjusted EPS of $1.04, beating the consensus estimate of $0.97 by approximately 7.2%. Revenue came in at $29.94 billion, surpassing the expected $29.30 billion. However, the results also revealed headwinds: adjusted EPS declined 16.8% year-over-year from $1.25 in the prior-year quarter, and domestic broadband subscribers posted a net loss of 167,000, slightly worse than the FactSet estimate of 165,300. Ahead of earnings, multiple investment banks had lowered their price targets, with JPMorgan cutting to $29, Goldman Sachs to $26, and RBC to $27. Morgan Stanley had previously flagged ongoing cable broadband pressure from Starlink expansion, projecting annual subscriber losses of 400,000-500,000 for cable operators through 2030.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

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