Before the bell, Comcast announces earnings.
- Cable giant Comcast reports earnings before the bell on Tuesday.
- Comcast's broadband business has experienced slow subscriber growth in recent years, and Wall Street continues to closely monitor its results.
- The industry will also look for updates regarding streaming service Peacock.
Wall Street will closely monitor subscriber growth in both the broadband and streaming businesses when the company reports its second-quarter earnings before the bell on Tuesday.
According to analysts surveyed by LSEG, Comcast is predicted to perform in this manner.
- Earnings per share: $1.12 expected
- Revenue: $30.02 billion expected
Despite the decline in subscriber additions for Comcast's cable broadband in recent quarters, broadband continues to be the main driver of its overall business.
The slowdown in buying and selling of houses due to high interest rates has led to a decline in new home internet connections, according to the company. Additionally, there is intense competition for home broadband from wireless providers such as and.
The termination of the Affordable Connectivity Program, which ended on June 1 due to funding issues, will likely have early effects on Americans' access to broadband at a discount. As of early February, more than 23 million U.S. households were enrolled in the program, but it stopped accepting new enrollments.
NBCUniversal's streaming platform, Peacock, will also be highlighted.
In the last quarter, Peacock had 34 million customers. The company highlighted the streamer as a successful venture and stated that the exclusive National Football League Wild Card game on Peacock helped attract and retain more customers than anticipated.
Despite an increase in customers and revenue during the first quarter, Peacock still incurs quarterly losses.
Peacock will be the streaming platform for the Paris Summer Olympics this week, with NBCUniversal airing the games on its TV networks and streaming the entire event live on Peacock for the first time.
The company is expected to achieve its highest advertising revenue during the Olympics in the upcoming quarter, according to executives.
Disclosure: Comcast owns NBCUniversal, the parent company of CNBC.
Business News
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