Comcast Q3 Call Set As NBCU Sees Rio Windfall

By on Sep, 14 2016 with Comments 0

Comcast Corp. has set its third quarter conference call for Wednesday, October 26.

The owner of NBCUniversal and Comcast cable systems will discuss its financial results for the three-month period ending Sept. 30 in a call set for 8:30am Eastern.

The conference call will be broadcast live on Comcast’s Investor Relations website, at www.cmcsa.com.

Comcast, which trades on Nasdaq as “CMCSA,” has had a strong year, with significant share growth bringing the company to a 52-week high of $67.92 on July 27.

Comcast goes ex-dividend on October 3, with a $1.69 yield.

The 1-year target price for Comcast is presently $75.37.

Comcast unit NBCUniversal’s golden ad sales performance at the 2016 Summer Olympics in Rio de Janeiro, Brazil will likely be a highlight of the call.

Speaking Sept. 14 at the Bank of America Merrill Lynch 2016 Media, Communications and Entertainment Conference in Beverly Hills, Calif., NBCU CEO Steve Burke said advertising sales increased by more than 20%, to $1.2 billion, compared with the 2012 Summer Olympics in London.

This reflects a significant turnaround for NBC, which had lost as much as $200 million from past Olympics coverage,  Burke said.

Comcast shelled out roughly $12 billion for the domestic rights to the Olympic Games through 2032.

About The Author: RBR+TVBR has been reporting on the business of broadcasting for nearly three decades. Beholden to no one, it is independently owned.

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