Comcast (NASDAQ:CMCSA) spent a lot of time being all but synonymous with “bad customer service” after the terrifying tale of former Engadget staffer Ryan Block and his “Comcastic” day of trying to cancel his service. However, things seem to have turned a corner, as Comcast is up over 6% in Thursday afternoon’s trading session thanks mostly to its recent earnings report.
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The earnings report featured little but wins for Comcast, with earnings coming in at $1.13 against projections calling for $0.98. Revenue also fared well, with $30.51 billion easily tackling expectations calling for $30.13 billion. That $30.51 billion was also a win on its own; that’s 1.6% higher than the number that came out at this time last year. Comcast even did sufficiently well to declare a dividend of $0.29 per share.
Two of the biggest gainers for Comcast were theme parks—like its Universal Studios Orlando line—and its studios. Comcast, after all, won big with the “Super Mario Bros.” movie, which is currently the second highest-grossing animated picture of all time. Pulling in $1.3 billion on one property is no mean feat, after all. Even Peacock fared reasonably well, with its $820 million in revenue representing a roughly 85% increase. It wasn’t all good news, however. Its broadband operations were in decline, as Comcast ended the second quarter with 32.305 million subscribers. That’s down 19,000 from what it was back in the first quarter.
Analysts, meanwhile, are reasonably impressed as well. With 11 Buy ratings, five Hold and one Sell, Comcast stock represents a Moderate Buy. However, with an average price target of $46.75, Comcast stock can only offer subscribers a paltry 2.7% upside potential.
