Philadelphia-based Comcast Corp. (NASDAQ: CMCSA), which is said to be buying a controlling stake in NBC Universal, is scheduled to discuss its third quarter 2009 financial results in a conference call Wednesday at 8:30 AM ET. You can catch the live webcast of the call on the company's website.
During the three months that ended in September, Comcast launched an internet portal for kids, a collaboration with the NFL, and a trial of On Demand Online. Analysts surveyed by Thomson Reuters expect this leading entertainment, information, and communication provider to report earnings of $0.25 per share, just a penny per share lower than in both the previous quarter and a year ago. Comcast earnings have beat the Street view in the past four quarters, by as much as seven cents per share. Revenue for the third quarter is expected to be 3.5% higher to $8.9 billion.
So far, analysts expect to see sequential growth of both EPS and revenue in the fourth quarter, and the forecast for the full year is for a profit of $1.12 per share on $35.6 billion in revenue. Last year's results were $0.91 per share on $34.3 billion.
Comcast's long-term EPS growth forecast is 10.4%, which is better than DISH Network (NASDAQ: DISH) and AT&T (NYSE: T). Comcast's earnings multiple is 12x, and the First Call consensus recommendation remains to buy CMCSA. Yet one analyst downgraded the stock due to uncertainty surrounding the NBC deal.
Shares have slipped more than 6% in the past month, dropping well below the 100-day moving average for the first time since mid summer, and they are about 16% lower than a year ago.
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