Yahoo Finance Earnings To Watch: Comcast (CMCSA) Reports Q2 Results Tomorrow
Telecommunications and media company Comcast (NASDAQ:CMCSA) will be announcing earnings results tomorrow before market hours. Here's what investors should know.
Comcast met analysts' revenue expectations last quarter, reporting revenues of $30.06 billion, up 1.2% year on year. It was a mixed quarter for the company, with a miss of analysts' earnings estimates.
Is Comcast a buy or sell going into earnings? Read our full analysis here, it's free.
This quarter, analysts are expecting Comcast's revenue to decline 1.5% year on year to $30.05 billion, a reversal from the 1.7% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.12 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Comcast has a history of exceeding Wall Street's expectations, beating revenue estimates every single time over the past two years by 1.2% on average.
Looking at Comcast's peers in the consumer discretionary segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Carnival delivered year-on-year revenue growth of 17.7%, beating analysts' expectations by 1.9%, and Levi's reported revenues up 7.8%, in line with consensus estimates. Carnival traded up 12% following the results while Levi's was down 15.7%.
Read our full analysis of Carnival's results here and Levi's results here.
There has been positive sentiment among investors in the consumer discretionary segment, with share prices up 6.4% on average over the last month. Comcast is up 4% during the same time and is heading into earnings with an average analyst price target of $46.9 (compared to the current share price of $40.01).
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