Comcast Corp Stock Price, News & Analysis

Comcast Corporation (NASDAQ: CMCSA) reported record financial results for Q4 and FY 2022, achieving the highest revenue, Adjusted EBITDA, and EPS in its history. Key highlights include:

• Q4 revenue rose 0.7% to $30.6 billion.
• Full-year revenue increased 4.3% to $121.4 billion.
• Adjusted EPS grew 12.7% to $3.64.
• Free cash flow was $12.6 billion, down 26% year-over-year.
• The company returned $17.7 billion to shareholders, marking its 15th consecutive dividend increase.
• Peacock subscribers more than doubled to 20 million.

Despite achieving numerous milestones, the company faced challenges, including a significant decline in net income, partly due to increased severance expenses.

Comcast Corporation is advancing efforts to bridge the digital divide through its Project UP initiative. A recent study by the Boston Consulting Group highlighted that over 65% of participants gained internet access or devices thanks to Digital Navigators. In Detroit, teens from the Boys & Girls Club assisted seniors at St. Patrick Senior Center in navigating the internet, enhancing their digital skills. The initiative aims to foster internet confidence among seniors, addressing barriers faced by older adults in accessing technology. Comcast's investment in community-based programs aims to further improve broadband adoption nationwide.

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Comcast has partnered with the National Skills Coalition (NSC) to promote digital equity in the U.S. following the Bipartisan Infrastructure Law. The NSC received a $200,000 grant from Comcast aimed at integrating existing workforce development with new federal funding for digital inclusion.

Nearly 50 million Americans lack essential digital skills, with significant impacts on workers of color and low-wage earners. The initiative aims to utilize $42 billion from the Broadband Equity, Access, and Deployment Program (BEAD) and $2.75 billion from the Digital Equity Act (DEA) to close this gap.

Comcast announces the expansion of its fiber-rich network to over 2,600 homes and businesses in Plainfield, Connecticut, set for completion by the end of 2023. This investment follows a similar expansion in Jewett City, enhancing service capabilities with residential broadband speeds up to 1.2 Gbps and business speeds up to 100 Gbps. Previously, Comcast invested $312 million in Connecticut's technology and infrastructure from 2019 to 2021. The ongoing projects will increase service availability for 5,100 additional locations in Eastern Connecticut. Comcast is also committed to providing digital equity and connectivity through various initiatives, including the Affordable Connectivity Program.

Comcast Business has partnered with Celona Inc. to deploy an advanced private wireless network at the Sonoma County Fairgrounds, enhancing connectivity for thousands of visitors and vendors. This upgrade addresses previous slow connectivity issues that impacted vendor and customer experiences. The state-of-the-art network supports back-of-house operations, including point of sale systems, ensuring reliable service during the fair. The deployment combines Comcast's CBRS spectrum licenses with Celona's 5G LAN products, providing increased coverage, speed, and low latency. This solution aims to transform wireless connectivity at large venues like the Sonoma County Fair.

Comcast has appointed Melinda Little as the new Vice President of Government and Regulatory Affairs for its ‘Big South’ region, effective immediately. Based in Atlanta, she will lead efforts related to broadband expansions, franchising, digital equity, and community outreach. Little comes with seven years of experience in the cable industry, having previously served as Vice President of Government Affairs in Atlanta. Her leadership is expected to foster growth in community relations. She has been recognized for her contributions to community service and has served on multiple boards in Houston.

Comcast Corporation has announced the promotion of Jason S. Armstrong to Chief Financial Officer, succeeding Mike Cavanagh, who is now President. Armstrong has held various financial leadership roles at Comcast for nine years, including Deputy CFO and Treasurer. He is recognized for his extensive experience in finance and investment management, having previously served at Goldman Sachs for 13 years. Armstrong expressed excitement about his new role and the future opportunities at Comcast, emphasizing the company's strong financial position and innovative culture.

Xumo and Element Electronics announced the launch of new 4K Ultra HD smart TVs in the U.S. in 2023. These TVs will integrate voice navigation and hundreds of built-in apps, aiming to enhance customer experience. The partnership combines Xumo's advanced streaming platform, developed by Comcast and Charter, with Element's commitment to affordable technology. Expected to launch in various sizes and price points, these TVs promise a user-friendly interface, making it easy to access live and on-demand content.