Comcast’s stock price movement
Comcast (CMCSA) posted mixed Q1 2019 results on April 25 before the market bell. The cable giant missed overall revenue estimates in the quarter and also failed to beat analysts’ estimates on revenue from NBCUniversal’s cable networks, filmed entertainment, and theme parks. Comcast also lost more video and phone customers than analysts’ estimates, which disappointed investors. Nevertheless, Comcast stock rose 2.58% on Thursday to $42.93, probably on better-than-expected earnings in the first quarter.
Comcast stock has grown 26.8% in the year-to-date period as of April 25. In comparison, peers Walt Disney (DIS), Netflix (NFLX), Dish Network (DISH), and CBS (CBS) gained 25.2%, 37.6%, 35.6%, and 16.3%, respectively, in the year-to-date period.
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Q1 earnings and revenues
Comcast’s adjusted earnings of $0.76 per share not only surpassed analysts’ estimates of $0.68 per share by 11.8% but were also 22.6% higher than Q1 2018 earnings of $0.62. The company has surpassed earnings estimates for the past 13 quarters.
Revenues of $26.9 billion increased 18% YoY in the first quarter but fell short of the Wall Street expectations of $27.2 billion due to disappointing sales at NBCUniversal and unfavorable currency impact on the Sky European pay-TV service.