Comcast earnings look-ahead: Watching broadband demand, theme park attendance, and box-office performance
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Media giant Comcast (NASDAQ:CMCSA) is set to report its second-quarter earnings on Wednesday on the heels of the box-office success of Oppenheimer. Investors will be closely watching the demand for its broadband services, theme park attendance, and its studio performance.
Wall Street analysts expect Comcast to post earnings per share of $0.98 on revenue of $30.13B, marking a paltry growth of 0.4%.
The parent of NBCUniversal has seen multiple cuts to its earnings estimates in the last three months: Earnings per share forecasts have been revised downwards 10 times, compared to 8 upward revisions, while revenue estimates have been revised upwards 11 times vs. 5 downward revisions. 
Universal Pictures' The Super Mario Bros. Movie, produced on a modest $100M budget, currently stands as the highest grossing film of the year, with upwards of $1.3B in collections. Oppenheimer has grossed over $174M globally till now. 
Investors will be watching the performance of Comcast's streaming service Peacock. In July, the streaming service raised its prices for the first time ever since launch. 
Comcast will be reporting its second-quarters results in the middle of a double strike of Hollywood writers and actors, the first of its kind since 1960. 
According to Seeking Alpha's Quant Rating system, Comcast placed third among communication services stocks, with a score of 4.72 out of 5. Comcast shares have risen about 20% YTD. 
Seeking Alpha analyst The Pineapple Investor said, "... CMCSA's strategic initiatives, including the expansion of its own streaming services like Peacock, position it well for future growth." 
Fellow analyst Juxtaposed Ideas noted, "CMCSA's Mario movie is produced on a tight $100M budget, suggesting a rich profitability in FQ2'23." 
Seeking Alpha analysts at large rate Comcast Buy, which compares with average Wall Street rating of Buy and SA Quant Rating of Strong Buy.