Comcast Earnings (CMCSA) Q1 2022

Brian Roberts, president and chief executive officer of Comcast Corp.

Patrick T Fallon | Bloomberg | Getty Images

Comcast is set to announce its first quarter earnings before Thursday’s opening bell.

Here’s what Wall Street expects:

  • I earn: 80 cents per share, according to Refinitiv
  • Income: $ 30.5 billion, according to Refinitiv
  • High Speed ​​Internet Customers: 229,000 net additions, according to analysts interviewed by FactSet

Analysts will be paying close attention to Comcast’s broadband segment. The company is expected to add 229,000 new high-speed Internet customers during the first quarter, well below the 461,000 added in the same quarter last year.

In a conference call last quarter, Comcast CEO Brian Roberts said broadband market conditions this year will continue to suffer from the impact of the coronavirus pandemic.

“Against this backdrop, we will find the right balance between subscriber acquisition and a large and expanding addressable market, as well as long-term profitable growth,” said Roberts.

Although the broadband segment may remain weak, analysts at Bank of America Securities said in a note to clients earlier this month that Comcast is “an attractive and defensive stock amid the market turmoil.” Markets were negatively impacted by rising inflation, the Russian invasion of Ukraine, and unease over the Federal Reserve’s plans to raise interest rates and facilitate bond purchases.

Bank of America pointed to Comcast’s Cable and Sky divisions as potential plus points during the quarter, along with its Universal theme park business, which recently recovered after being hit by closures and capacity reductions resulting from the pandemic.

Wednesday, Comcast announced a new joint venture with Communications of the Charter which will see its Xfinity Flex streaming hardware available to both companies’ broadband subscribers.

– CNBC’s Michael Bloom contributed to this story.

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Disclosure: Comcast owns CNBC’s parent company NBCUniversal.

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