PHILADELPHIA--(BUSINESS WIRE)-- today increased Internet speeds for customers, nationwide, at no additional cost. Comcast Business announced the introduction of its fastest Internet plans yet – Ultimate Speed for Business – with up to triple the speeds. Additionally, Comcast Business announced the roll-out of next-generation multi-gigabit symmetrical business Internet speeds, powered by Full Duplex technology, in select markets. Ultimate Speed for Ultimate Business Effective immediately, new, and existing Comcast Business customers can take advantage of the following speed plan increases: ...
In this installment of our Autumn for Broadband series, we provide a quick update on trends in the broadband market based on what we have seen from the companies that have reported so far. Industry net adds were substantially weaker in 1Q24 with all technologies seeing slower growth (except DSL which was flat). Cable was impacted the most.
PHILADELPHIA--(BUSINESS WIRE)-- Today, Comcast Corporation built on its long-standing commitment to veterans, service members, and their families with the introduction of several new initiatives. Timed with National Military Appreciation Month, the company unveiled “The Aviators,” an epic advertising campaign directed by Oscar winner Kathryn Bigelow, launched a new Xfinity Military discount program, and committed to invest more than $1 million in nonprofits that serve the military community in 2024. This press release features multimedia. View the full release here: For National Military Appr...
In this weekend update, we reconsider our initial takes on several events last week and how they could be affected by events this week. Specifically, we look at the interplay of the FCC’s Title II Order, the Second Circuit opinion upholding New York State’s mandate for ISPs to offer low-income households a low-cost broadband offering, Senator Cantwell’s draft spectrum bill, and how all are affected by the end of ACP funding in the next few weeks.
What’s new: In this note, we cover changes to our estimates, and comparisons with guidance and consensus. Please see separate notes reviewing results and thoughts following the earnings call. We lowered broadband adds, revenue and EBITDA. No change to thesis, though we expect Broadband stocks to be challenged for next few quarters. Price target is $51 (+34%).
What's new: in this note we cover our thoughts on Broadband market growth, the strength in Broadband market pricing, the impact of ACP, our expectations for Comcast’s net adds and ARPU in 2Q24 and the second half of the year, the impact of the “Now” products, the outlook for Connectivity EBITDA, and our expectations for leverage and repurchases. We are still working through numbers for Content & Experiences, and we will cover these in our Model Update note at the end of the day.
What’s new: Revenue and EBITDA were roughly in-line, while FCF beat handily on lower capex, cash taxes, and interest. Leverage inched down. Repurchases were higher than our estimate, but lower than consensus. Connectivity financials were fine, but subscriber metrics a little worse than expected. Content financials were similarly fine, with better Media OCF offsetting softer Theme Parks OCF. We suspect the FCF beat is largely due to timing and full year estimates are unlikely to move much. Contex...
PHILADELPHIA--(BUSINESS WIRE)-- and devices can now connect to millions of new “Xfinity Mobile” hotspots and receive Internet speeds over WiFi up to 1 Gigabit per second (Gbps). By delivering a faster connection over Xfinity’s WiFi network, Comcast is helping ensure customers can stream, game, chat, download and surf wherever they are. This press release features multimedia. View the full release here: Comcast delivers gig speeds to Xfinity Mobile and Comcast Business Mobile customers (Graphic: Business Wire) Today 90 percent of the mobile data traffic on Xfinity Mobile devices travels over...
PHILADELPHIA--(BUSINESS WIRE)-- today announced it has expanded its cybersecurity portfolio with the launch of its Comcast Business Managed Detection and Response (MDR) solution. The solution combines an advanced security analytics platform and Security Operations Center (SOC) to help medium and large enterprise customers detect, analyze, and mitigate cyber threats in an ever-evolving and challenging threat landscape. Managed Detection and Response is a cybersecurity service that combines technology and human expertise to perform cyber threat hunting, monitoring, and response. One of the pr...
PHILADELPHIA--(BUSINESS WIRE)-- Today Comcast introduced NOW, a new brand of quality, low-cost Internet, mobile and streaming TV products that consumers can purchase month-to-month, whenever they want. NOW Internet is a prepaid service that provides more reliability than fixed wireless options for a better price. NOW Mobile is a new prepaid service that includes unlimited 5G data combined with access to more than 23 million WiFi hotspots, unlike any other provider in the prepaid category. This press release features multimedia. View the full release here: Comcast introduces NOW, a new brand o...
The Pullback Finally Begins; Testing 2-Month Supports We have discussed for months that we will need to see the S&P 500 and Nasdaq 100 (QQQ) close below their 20-day MAs/21-day EMAs for more than 2-3 consecutive days in order to get more cautious. While this has not happened yet (only two consecutive days so far, yesterday and Friday), it does appear to be going in that direction as the U.S. dollar (DXY) climbs to test major $106 resistance, and amid 10- and 30-year Treasury yields breaking abo...
PHILADELPHIA--(BUSINESS WIRE)-- Today, and , together announced the 16 fellows selected for The Digital Equity Local Voices Lab, a new initiative powered by Comcast NBCUniversal to place journalists at 16 Black and LGBTQ+ serving news publications across the country. During the year-long fellowship, the group will receive the training and resources needed to tell stories within marginalized communities through media and technology and celebrate the work being done by Black and LGBTQ+ leaders in their communities. This press release features multimedia. View the full release here: News is Out...
In this note, we adjust estimates to reflect comments made at conferences and our evolving view of the broadband market. We think broadband market growth considerably slowed in 1Q24. All broadband providers were likely impacted. In addition, Comcast has adjusted its approach to the broadband market to protect ARPU in a period of slower subscriber growth. No change to thesis. Price target is $50 (+22%).
PHILADELPHIA--(BUSINESS WIRE)-- For the second year in a row, Great Place To Work® and Fortune Media have recognized Comcast NBCUniversal as one of the top 10 of , ranking the company No. 10 on this year’s list. It’s an honor to be recognized by Fortune and Great Place to Work alongside many other notable companies for the seventh consecutive year. To determine the 100 Best Companies to Work For, analyzed the anonymous survey responses of more than half a million employees from U.S. companies with at least 1,000 workers. Companies also submitted essays describing their efforts to offer gen...
Broadband industry growth slowed in 4Q23. We wondered, exiting the quarter, whether growth would level off or slow further in 1Q24. Based on the data we have collected so far, it appears that growth has slowed further, and possibly quite materially. We suspect slower growth will impact all operators, although for fiber, it should be partly offset by footprint expansion.
Unfortunately, this report is not available for the investor type or country you selected.
Report is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.