Why Comcast (CMCSA) Shares Are Rising Today

Comcast Corp (NASDAQ:CMCSA) reported third-quarter FY22 revenue decline of 1.5% year-on-year to $29.85 billion, beating the consensus of $29.71 billion.
Segments: Revenue for Cable Communications rose 2.6% Y/Y to $16.54 billion, driven by increases in broadband, wireless, business services, and advertising partially offset by decreases in the video and voice revenue.
Customer Relationships decreased by 21,000 to 34.4 million. Broadband customer net additions were 14,000, and total video customer net losses were 561,000.
The company's Cable Communications added 333,000 wireless lines.
Revenue for NBCUniversal decreased 4.3% Y/Y to $9.6 billion. Revenue from Media decreased 22.7% Y/Y to $5.2 billion, reflecting lower advertising and distribution revenues, and Studios increased 31.4% Y/Y to $3.2 billion, primarily reflecting higher content licensing revenue and theatrical revenue.
Theme Parks' revenue increased by 42.4% to $2.1 billion due to higher attendance and increased guest spending at its parks in the U.S. and Japan.
Revenue for Sky decreased 14.7% Y/Y to $43 billion. Total Customer Relationships increased by 320,000 to 23 million.
Adjusted EPS of $0.96 beat the consensus of $0.90.
Margin: Adjusted EBITDA margin of Cable Communications expanded 120 bps to 45.1%. Sky's adjusted EBITDA margin contracted 300 bps to 16.5%.
Comcast generated $3.4 billion in free cash flow and held $5.7 billion in cash and equivalents.
Cable Communications' capital expenditures were $2.0 billion, up 20.8% Y/Y, NBCUniversal's capital expenditures increased 68.1% to $614 million, and Sky's capital expenditures decreased 39.8% to $96 million.
Price Action: CMCSA shares traded higher by 4.51% at $32.92 in the premarket on the last check Thursday.

CMCSAComcast Corp

$29.341.26%

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