5 Companies Making Headlines Following Earnings Reports

4. Comcast Corporation (NASDAQ:CMCSA)

Number of Hedge Fund Holders: 80

Shares of Comcast Corporation (NASDAQ:CMCSA) recently hit a new 52-week low of $40.76 despite beating profit and sales expectations for the first quarter. The media and technology company earned 86 cents per share on an adjusted basis, up from 76 cents per share in the same period last year.

Revenue for the quarter rose 14 percent on a year-over-year basis to $31 billion. Analysts were expecting Comcast Corporation (NASDAQ:CMCSA) to post earnings of 81 cents per share on revenue of $30.5 billion.

Comcast Corporation (NASDAQ:CMCSA) also released its segment-wise sales performance. Its Cable Communications revenue rose 4.7 percent to $16.5 billion, while NBCUniversal revenue climbed 46.6 percent to $10.3 billion in the quarter. On the downside, Sky revenue slipped 4.5 percent to $4.8 billion.

Discussing the results, CEO Brian L. Roberts said:

“2022 is off to a great start. For the first quarter we reported healthy growth in adjusted EBITDA and adjusted EPS, generated significant free cash flow, and increased our return of capital to shareholders.”