Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  Nasdaq  >  Comcast Corporation    CMCSA

SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets 

Comcast : reports progress in much maligned customer service

share with twitter share with LinkedIn share with facebook
share via e-mail
0
07/28/2016 | 12:39am CEST

July 27--Comcast Corp.'s second-quarter revenues rose a slim 2.8 percent and the company reported a modest drop in profits as its slate of Hollywood movies-rocket-fueled in 2015 by the release of Furious 7 and Jurrasic World -- failed to repeat that success.

Otherwise the cable and entertainment conglomerate had a solid quarter as its cable-TV business continued to heal -- video subscriber losses were a negligible 4,000 compared to 69,000 in the year-ago quarter -- and NBC broadcast-TV revenues rose 17 percent on more licensing and retransmission fees.

Revenues in the hit-or-miss Universal films unit fell 40 percent.

The Philadelphia firm reported $19.3 billion in revenues, compared to $18.7 million a year ago. Net income of $2 billion compared to $2.1 billion a year ago.

"We had a great first half of the year on so many fronts," Comcast chief executive Brian Roberts said on an analysts conference call, citing cable subscriber metrics and NBC TV ad sales.

Roberts said the firm had no intention of launching a national on-demand streaming product like Netflix or Hulu outside of its cable-TV territories because the "economics are unproven to us."

Comcast's goal was an "in-market strategy," staying within its historic regional cable-TV territories, developing products and improving customer service, Roberts said.

Comcast has said it has 29 months of improving subscriber metrics since it began the big overhaul of its maligned customer service. This year's second quarter had the fewest losses of TV subscribers in 10 years.

Meanwhile, Comcast's high-speed internet business added 220,000 business and residential customers, its best in eight years. Comcast may have been helped in the TV and internet businesses by the union strike at competitor Verizon Communications Inc., observers say.

Comcast executives could not discuss the federal spectrum auction this year, citing regulations, but cable division head Neil Smit called wireless "a real opportunity" and there's "more to come in the future."

Comcast recently promoted a long-time executive Greg Butz to head the new Comcast Mobile unit. Smit said Comcast runs 15 million Wifi hotspots in its national cable-TV franchise areas. Experts believe Comcast will base a new wireless service on a combination of traditional cellular-phone wireless technology and Wifi.

Steve Burke, the head of NBCUniversal, said NBC Sports hit the advertising-revenue budget for the Rio Olympics three weeks ahead of schedule.

According to Bloomberg News, NBC lobbied to switch the official language of the Rio Olympics to English from Portuguese -- Brazil's official language -- to boost television viewers for the opening ceremony. With the switch, U.S. athletes would enter the arena near the back of the parade of teams, giving American viewers a reason to stick around.

Olympic teams enter the arena in alphabetical order. In Portuguese, the U.S. athletes enter under the banner of "Estados Unidos." In English, they would enter under "United States." Olympics officials declined to make the switch, the report said.

NBC said it did not ask for a switch to the English alphabet. "We have regular discussions" with IOC partners, an NBC Sports spokesman said.

Burke noted that he and Roberts had visited China two weeks ago, seeking growth. NBCUniversal intends to open a theme park there in 2020 and grow revenues in movies.

Comcast executives said they expect a rebound in the movie unit with the recent animated movie The Secret Life of Pets and other releases this fall, including a new Bourne flick.

[email protected] 215-854-5897 @bobfernandez1

___

(c)2016 The Philadelphia Inquirer

Visit The Philadelphia Inquirer at www.philly.com

Distributed by Tribune Content Agency, LLC.

© Tribune Content Agency, source Regional News

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on COMCAST CORPORATION
04/28 EARNINGS ROUNDUP : Comcast earnings top expectations
04/28 COMCAST CORPORATION : Statement on the Spectrum It Sold and Purchased in the FCC..
04/27 COMCAST CORP : MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND R..
04/27 Under Armour, Comcast gain on earnings; Southwest drops
04/27DJCOMCAST : Results Top Expectations as Cable Giant Preps for Wireless Entry -- Up..
04/27 Comcast profit tops views on subscriber growth, movie hits
04/27 Comcast profit tops views on subscriber growth, movie hits
04/27 COMCAST CO. (NASDAQ : CMCSA) reported earnings of $0.53 per share beating Walls ..
04/27 COMCAST : Universal Parks and Resorts theme park revenue increases
04/27DJCOMCAST : Results Top Expectations as Cable Giant Preps for Wireless Entry
More news
Sector news : Broadcasting - NEC
04/27 Comcast profit tops views on subscriber growth, movie hits
04/27 Comcast profit tops views on subscriber growth, movie hits
04/25 T-Mobile open to merger talks, new subscribers top estimates
04/24 Hasbro profit beats on gaming demand, shares hit record high
04/21 Pro7 strategy chief to quit German media group - sources
More sector news : Broadcasting - NEC
News from SeekingAlpha
04/28 COMCAST COMP : CEO Roberts takes 9% pay cut to $32.96M
04/28 Dish Network in a central seat as telecom/media deals race begins
04/28 AT&T Dials Up A Solid Quarter - But Competitive Threats Are Rising
04/28 WALL STREET BREAKFAST : Government Shutdown Looms
04/27 COMCAST ON AUCTION : No current spectrum plans, mobile product doesn't need it
Advertisement
Financials ($)
Sales 2017 84 429 M
EBIT 2017 18 100 M
Net income 2017 9 400 M
Debt 2017 48 902 M
Yield 2017 1,58%
P/E ratio 2017 20,04
P/E ratio 2018 17,57
EV / Sales 2017 2,78x
EV / Sales 2018 2,71x
Capitalization 185 506 M
More Financials
Chart COMCAST CORPORATION
Duration : Period :
Comcast Corporation Technical Analysis Chart | CMCSA | US20030N1019 | 4-Traders
Full-screen chart
Technical analysis trends COMCAST CORPORATION
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Technical analysis
Income Statement Evolution
More Financials
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 30
Average target price 44,8 $
Spread / Average Target 14%
Consensus details
EPS Revisions
More Estimates Revisions
Managers
NameTitle
Brian L. Roberts Chairman, President & Chief Executive Officer
Michael J. Cavanagh Chief Financial Officer & Senior EVP
Judith Rodin Independent Director
Kenneth J. Bacon Independent Director
Joseph J. Collins Independent Director
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
COMCAST CORPORATION13.51%185 506
WALT DISNEY CO10.92%182 792
CBS CORPORATION4.62%29 666
SKY PLC0.10%22 074
LIBERTY MEDIA FORMULA ..8.17%21 004
LIBERTY SIRIUS XM GROU..10.37%21 004
More Results