Comcast (CMCSA, $39.81) beats Q4 earnings expectations
Comcast Corp. reported fourth quarter earnings that surpassed analysts’ expectations. The telecom company also hiked its dividend for a fifteenth consecutive year.
Comcast’s adjusted profits for the three months ending in December came in at 82 cents per share, beating the Street consensus forecast by 5 cents. Revenues rose +0.6% year-over-year to $30.522 billion, also topping analysts' estimates of $30.32 billion.
Free cash flow was $1.33 billion, well below the $2.05 consensus estimate.
The company lost a net -26,000 broadband subscribers over the quarter.
Cable revenues grew 1.4% to $16.64 billion. Net new 5 million subscribers got added to its Peacock streaming service taking the total to exceed 20 million. Ad sales at NBCU rose +4% to $2.86 billion. Theme park revenues rose 12% to $2.11 billion notwithstanding COVID-19-related closures in China.
CMCSA sees MACD Histogram crosses below signal line
CMCSA saw its Moving Average Convergence Divergence Histogram (MACD) turn negative on August 29, 2024. This is a bearish signal that suggests the stock could decline going forward. Tickeron's A.I.dvisor looked at 51 instances where the indicator turned negative. In of the 51 cases the stock moved lower in the days that followed. This puts the odds of a downward move at .
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