Yahoo Finance Comcast (CMCSA) Expands Its Xfinity 10G Network in Southeast
Comcast CMCSA recently announced that it expanded its multi-year network project to its next-generation broadband platform, Xfinity 10G network, thereby connecting thousands of unserved and underserved homes and businesses.
Comcast has added and upgraded nearly 10,000 miles of its network, connecting over 300,000 new homes and businesses across several southeast counties during the past three years.
Comcast is addressing digital inequity through its $1 billion Project UP commitment, which supports connectivity programs like Internet Essentials and the Affordable Connectivity Program, offering eligible households up to $30/month credit for home Internet.
Comcast's Xfinity 10G Network offers ultimate capacity, the fastest internet speeds, unprecedented coverage, the most reliable connection and ultra-low latency for video games.
Comcast Corporation Price and Consensus
Comcast Corporation price-consensus-chart | Comcast Corporation Quote
Strengthening Portfolio to Drive Top Line
Apart from the latest move, the company recently announced that it would expand its high-speed Xfinity 10G network to nearly 800 residents and businesses in Beech Bottom and Windsor Heights in Brooke County, Rowlesburg and Terra Alta, Preston County.
Comcast also expanded its Xfinity 10G network to serve more rural communities in Oregon, Washington and Colorado.
It also offers a suite of connectivity, communications, networking, cybersecurity, wireless and managed solutions to help small and mid-size businesses prepare for the future.
Comcast’s continuous efforts to strengthen its portfolio are expected to benefit its top-line growth.
In the fourth quarter of 2022, Comcast’s total revenues were $30.6 billion, up 0.7% from the year-ago quarter’s reported figure. Notably, its adjusted EBITDA was $8 million, which decreased 4.9% year over year.
The company reported earnings of 82 cents per share, which increased 6.5% year over year.
The Zacks Consensus Estimate for first-quarter 2023 revenues is pegged at $29.92 billion, indicating a decline in growth of 3.5% from the year-ago quarter’s reported figure.
The consensus mark for first-quarter 2023 earnings is pegged at 83 cents per share, which decreased 3.5% from the year-ago quarter reported figure.
Zacks Rank & Stocks to Consider
Currently, Comcast carries a Zacks Rank #3 (Hold). It has lost 22.1% in a year compared with the Zacks Cable Television industry and the Zacks Consumer Discretionary sector’s declines of 18.4% and 29.8%, respectively.
Some better-ranked stocks in the broader sector are Boyd Gaming BYD, The Marcus MCS and Netflix NFLX, each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Boyd Gaming shares have gained 4.5% in the past year. The long-term earnings growth rate for BYD is projected at 9.53%.
The Marcus shares have lost 8.1% in the past year. MCS’s long-term earnings growth rate is projected at 15%.
Netflix shares have gained 9.4% in the past year. The long-term earnings growth rate for NFLX is projected at 19.25%.
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Comcast Corporation (CMCSA) : Free Stock Analysis Report
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