Key Stats for Comcast Stock
- Price change for Comcast stock: -13%
- $CMCSA Share Price as of Apr. 24: $28
- 52-Week High: $37
- $CMCSA Stock Price Target: $33
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What Happened?
Comcast (CMCSA) stock jumped more than 6% Thursday after the company beat Wall Street estimates on both revenue and earnings, and showed meaningful improvement in its troubled broadband business. But later on Friday, it lost 13%, more than what it had gained on Thursday.
- EPS came in at $0.79 adjusted, beating the $0.73 estimate.
- Revenue hit $31.46 billion, well above the $30.35 billion consensus.
- The headline numbers were strong, but the broadband data is what really moved Comcast stock.
- The company lost 65,000 broadband customers in Q1. That sounds bad, but it’s a big improvement from the 183,000 losses in the same quarter last year.
- It was also the best year-over-year improvement since 2020. For a stock that’s been punished for years over cord-cutting and broadband subscriber losses, that number matters.
- A lot of the Q1 strength came from what Comcast called “Legendary February” — a 17-day stretch that included the Super Bowl, the Winter Olympics, and the NBA All-Star Game.
- Together, those events drove roughly $2.2 billion in incremental revenue for NBCUniversal.
- Domestic advertising for the media unit was up 135% in the quarter, though most of that was tied to those one-time events.
- Peacock was another positive. The streaming service added 2 million subscribers in the quarter, bringing its total to 46 million. Revenue nearly doubled year-over-year to $2.1 billion.
CFO Jason Armstrong said Peacock is on track to approach profitability for the first time next quarter — a milestone the market has been waiting for.
The wireless business also had its best quarter ever. Comcast added 435,000 net new mobile lines, bringing total mobile customers to 9.7 million.
The company also launched a new premium mobile plan this week that includes lifetime device protection — a first in the industry.
There are still real challenges. Broadband ARPU fell 3.1% in the quarter, pressured by simplified pricing and free wireless line offers.
Management expects that pressure to continue into Q2 before easing in the second half. The competitive environment from fixed wireless and fiber remains intense.
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What the Market Is Telling Us About Comcast Stock
Comcast stock has been a value trap for years, weighed down by subscriber losses and negative sentiment around cable. Today’s results don’t fix everything, but they offer real evidence that the strategic pivot is working.
With broadband losses narrowing, Peacock approaching profitability, and mobile accelerating, Comcast stock is starting to look like a turnaround story with tangible progress.
The stock still trades well below its 52-week high, which means there’s room to run if the momentum holds.
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Disclaimer:
Please note that the articles on TIKR are not intended to serve as investment or financial advice from TIKR or our content team, nor are they recommendations to buy or sell any stocks. We create our content based on TIKR Terminal’s investment data and analysts’ estimates. Our analysis might not include recent company news or important updates. TIKR has no position in any stocks mentioned. Thank you for reading, and happy investing!
