The 10-second takeaway
For the quarter ended March 31 (Q1), Comcast beat expectations on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue expanded significantly and GAAP earnings per share improved significantly.
Gross margins shrank, operating margins increased, net margins expanded.
Comcast recorded revenue of $14.88 billion. The 22 analysts polled by S&P Capital IQ predicted net sales of $14.44 billion on the same basis. GAAP reported sales were 23% higher than the prior-year quarter's $12.13 billion.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.45. The 25 earnings estimates compiled by S&P Capital IQ forecast $0.42 per share. GAAP EPS of $0.45 for Q1 were 32% higher than the prior-year quarter's $0.34 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 39.6%, 200 basis points worse than the prior-year quarter. Operating margin was 18.5%, 20 basis points better than the prior-year quarter. Net margin was 8.2%, 40 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $15.22 billion. On the bottom line, the average EPS estimate is $0.49.
Next year's average estimate for revenue is $61.57 billion. The average EPS estimate is $1.90.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Comcast is outperform, with an average price target of $33.73.
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Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor of Motley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.