Why Comcast Stock Slid 6% on Thursday
Cable internet giant Comcast (NASDAQ: CMCSA) stock slipped 6% through 11:11 a.m. ET Thursday despite the company reporting better than expected sales and earnings for the first quarter of 2024.
Analysts had forecast the communications company would earn only $0.99 per share (non-GAAP, or adjusted) on sales of $29.8 billion in Q1, but Comcast surprised to the upside with $1.04 per share in earnings and sales of $30.1 billion. Yet its stock fell. Why?
Comcast's news wasn't all good. While the company beat expectations on both the top and bottom lines, revenue still only grew about 1% year over year, and net income rose less than 1%.
Source Fool.com
Comcast Corp. Stock
€35.11
-1.150%
With 18 Buy predictions and only 1 Sell predictions the community sentiment for the stock is positive.
With a target price of 46 € there is a positive potential of 31.04% for Comcast Corp. compared to the current price of 35.11 €.
