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Comcast (CMCSA - Free Report) is set to report its second-quarter 2023 results on Jul 27, 2023.

The Zacks Consensus Estimate for second-quarter 2023 revenues is pegged at $30.25 billion, indicating growth of 0.77% from the year-ago quarter’s reported figure.

The consensus mark for earnings has declined 2% to 98 cents per share in the past 30 days, suggesting a fall of 2.97% from the figure reported in the year-ago quarter.

Comcast’s earnings beat the Zacks Consensus Estimate in all the trailing four quarters, the average surprise being 9.75%.

Comcast Corporation Price and EPS Surprise

Corporation price-eps-surprise | Comcast Corporation Quote

Let’s see how things have shaped up for the upcoming announcement.

Factors at Play

Comcast’s top line in the to-be-reported quarter is expected to reflect a slowing broadband subscriber base due to the reversal of pandemic trends and increased competition from fixed wireless and fiber-based wireline networks.

The company’s wireless business added 355K lines in the first quarter of 2023. The momentum is expected to have continued in the second quarter.

Comcast’s business services segment is expected to have benefited from an expanding clientele, thanks to an advanced and adaptable network infrastructure.

The Theme Park business is also likely to have benefited from strong occupancy rates in parks in Osaka, Beijing, Orlando and Super Nintendo World in Hollywood.

Moreover, Comcast is expected to have benefited from robust movie offerings on Peacock. NBCUniversal ("NBCU") has a strong content portfolio, driven by popular TV shows like Saturday Night Live. It also has an impeccable lineup of sports content, including Sunday Night Football, Premier League and Big 10, as well as streaming originals like Poker Face.

NBCU witnessed encouraging results in the first quarter of 2023, wherein paid subscribers and engagement levels rose to roughly 20 hours per subscriber per month, fueling strong growth in advertising revenues.

At the end of the first quarter, Peacock had nearly 22 million paid subscribers. Peacock revenues surged 45% to $685 million in the first quarter.

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