This Media Giant Is Attracting A Lot Of Retail Attention Today: Here’s Why

Comcast Corp.’s (CMCSA) CFO, Jason Armstrong, highlighted during the company’s earnings call on Thursday that the second-quarter (Q2) earnings were boosted by broadband, wireless, and theme parks businesses.

Referring to the company’s connectivity and content divisions, he said that collectively, these businesses represent nearly 60% of the company’s total revenue and grew at a high single-digit rate this quarter.

On Stocktwits, retail sentiment around the stock improved to ‘extremely bullish’ (80/100) from ‘bullish’ the previous day amid ‘high’ (73/100) message volume levels.

 Both the sentiment and message volume were at a three-month high. The stock saw an 80% increase in user message count in 24 hours. 

Comcast stock traded over 2% higher on Thursday mid-morning.

A Stocktwits user lauded the different revenue streams in the company.

Comcast’s President, Michael Cavanagh, said that half of the new eligible sign-ups in Q2 have chosen the 5-year price guarantee. Additionally, 20% more new customers opted for gigabit or faster internet speeds, boosting the average speed offerings and contributing to higher revenue per new connection.

The company’s Q2 revenue increased 2.1% year-on-year (YoY) to $30.3 billion, beating the analysts’ consensus estimate of $29.8 billion, as per Fiscal AI data.

The adjusted earnings per share (EPS) of $1.25 also surpassed the consensus estimate of $1.18.

Comcast’s operating cash flow in Q2 totaled $7.8 billion, with a free cash flow of $4.5 billion.  

The company returned a total of $2.9 billion to shareholders in Q2, distributing $1.2 billion in dividends and buying back 49.3 million shares for $1.7 billion.

Comcast stock has lost over 11% year-to-date and over 19% in the past 12 months.

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