Overview

• US media and connectivity firm's Q1 revenue rose 5.3%, beating analyst expectations

• Adjusted EPS for Q1 beat analyst expectations

• Company returned $2.5 bln to shareholders via dividends and share repurchases

Outlook

• Comcast did not provide specific guidance for the current quarter or full year

Result Drivers

• WIRELESS GROWTH - Record wireless line additions and improved broadband subscriber losses attributed to new go-to-market strategy

• MEDIA EVENTS - Revenue boosted by Milan Cortina Olympics and Super Bowl, driving record advertising and Peacock subscriber growth

• PROGRAMMING COSTS - Higher programming expenses for Olympics, Super Bowl and NBA rights offset Media revenue gains

Company press release: ID:nBw7XZD4Da

Key Details

Metric	Beat/Miss	Actual	Consensus Estimate
Q1 Revenue	Beat	$31.46 bln	$30.42 bln (22 Analysts)
Q1 Adjusted EPS	Beat	$0.79	$0.73 (22 Analysts)
Q1 EPS		$0.60

Analyst Coverage

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 8 "strong buy" or "buy", 20 "hold" and 3 "sell" or "strong sell"

• The average consensus recommendation for the wireless telecommunications services peer group is "buy."

• Wall Street's median 12-month price target for Comcast Corp is $32.50, about 10.7% above its April 22 closing price of $29.37

• The stock recently traded at 8 times the next 12-month earnings vs. a P/E of 7 three months ago

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