Comcast Q2 Results to Reflect Broadband Weakness, Softer Parks, UBS Says

MT Newswires Live06-24 03:21

Comcast's (CMCSA) Q2 results are expected to reflect continued pressure in its broadband business and softer parks performance, partially offset by improving content trends, UBS Securities said.

The brokerage said in a note Monday that it expects revenue to rise 1.6% in the quarter. Adjusted EBITDA is projected to decline 6.6%. UBS attributed the decline to accelerating weakness in connectivity and slower parks growth.

UBS forecasts broadband subscriber losses of 153,000. The brokerage said that would be an improvement from a year earlier. Connectivity revenue is expected to decline 3.4% while connectivity EBITDA is expected to decline 6.1%.

The investment firm expects content revenue to increase 14%. It cited World Cup and NBA advertising, Peacock profitability and stronger studio performance as key drivers.

UBS maintained its neutral rating, with a $32 price target.

Shares of Comcast were up more than 3% in Tuesday trading.

Price: 23.02, Change: +0.70, Percent Change: +3.14

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