UBS forecasts Comcast’s Q2 EBITDA to decline 6.6% due to lower connectivity earnings and park performance.
UBS reaffirmed its Neutral rating on Comcast (NASDAQ:CMCSA) with a $32 price target, adjusting Q2 expectations. The firm now projects a 6.6% EBITDA decline, steeper than the prior 6.3% drop, and 1.6% revenue growth, down from 2.0%.
The revision reflects weaker connectivity EBITDA and park performance, offset partly by fewer NBA games and reduced playoff marketing costs. Peacock’s profitability outlook also improved. UBS expects moderate growth in H2 driven by new pricing, the NBA deal, and political advertising.
Comcast’s Xfinity expanded same-day Wi-Fi hardware delivery to 20 cities, with plans for broader rollout by early 2025. The company operates in residential connectivity, business services, media, studios, and theme parks.