Comcast Reports Thursday With Broadband Losses in Focus

Philadelphia-based Comcast reports third-quarter results Thursday before the market opens. Analysts expect earnings of 98 cents a share on revenue of $29.35 billion, according to the Zacks consensus estimate.

The estimates would mark declines of 12.5 percent in earnings per share and 5.9 percent in revenue from a year earlier. The stock has been trading near its 52-week low of $20.48, down more than 15 percent over the past month.

Broadband subscriber losses are the number to watch. The cable business is under pressure from fixed wireless access providers and fiber competitors, while the wireless business keeps posting record line additions each quarter and has become a growth engine.

The Peacock streaming service is also in focus. Zacks flagged a possible post-World Cup growth slowdown, and softer theme park demand was cited as another drag.

Management said during the second-quarter call that it plans to split NBCUniversal and Sky into two publicly traded companies. Investors will be listening for an update on the separation.

In the second quarter, Comcast earned $1.04 a share, beating the 97-cent estimate, on revenue of $29.94 billion.