Extrait:Comcast will report its second-quarter earnings before the bell on Thursday. Investors will be looking for an update on the company’s broadband business.
Comcast reports its second-quarter earnings Thursday morning, and once again the company's broadband business will be the focus for investors.
Comcast and its cable peers have been suffering from a slowdown in broadband growth in recent years, impacting the companies' stocks.
Here is how Comcast is expected to perform for the second quarter, according to estimates from analysts surveyed by LSEG:
Last week Charter Communications — the second largest broadband provider in the country — reported worse than expected broadband customer losses for its most recent quarter.
Charter's stock had its worst day on record last Thursday, dropping 18%, and dragging down the stock prices of Comcast and other industry peers.
Charter has agreed to merge with Cox Communications, and that transaction is pending.
Comcast's stock experienced a similar drop when the company reported first-quarter earnings in May and recorded 199,000 fewer domestic broadband customers.
Cable companies have been facing heightened competition due to the rise of alternative home options like 5G, or so-called fixed wireless.
During Comcast's first-quarter earnings call in April, executives outlined changes to its broadband strategy in the midst of customer stagnation.
The company, which offers broadband and other services under the Xfinity brand, said it would address what executives identified at the time as a “disconnect” when it comes to “price transparency and predictability and the level of ease of doing business with us.”
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FXCM
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FXCM
EC Markets
IC Markets Global
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