News The Walt Disney Company Board of Directors Extends Robert A. Iger’s Contract as CEO Through 2026

[Dranth]

Comcast sinks despite profit beat, as broadband subscribers slip and ad revenue slumps

Comcast revenue and earnings both topped analyst estimates as theme park sales rose, and Peacock added 4 million subscribers.

www.cnbc.com

Meanwhile in Burbank.....

The actual take away from this:

Beat on revenue and profits, parks did better, studios and streaming about even, did more stock buy backs, paid a dividend, increased wireless subscribers, lost a minimal number of broadband subscribers and still the stock took a beating.

What else could Comcast reasonably do?

I am sure the stock will rebound after the initial dump off but still, this is a great example of why the stock market it just a terrible measure of a company in the way people keep trying to use it.

 

[Sirwalterraleigh]

The actual take away from this:

Beat on revenue and profits, parks did better, studios and streaming about even, did more stock buy backs, paid a dividend, increased wireless subscribers, lost a minimal number of broadband subscribers and still the stock took a beating.

What else could Comcast reasonably do?

I am sure the stock will rebound after the initial dump off but still, this is a great example of why the stock market it just a terrible measure of a company in the way people keep trying to use it.

…and yet…this is what 40 years of largesse has gotten the “business world” to…we did this to ourselves

 

[TrainsOfDisney]

…and yet…this is what 40 years of largesse has gotten the “business world” to…we did this to ourselves

Indeed. Everyone keeps saying “but it’s just business!” - but this is actually a relatively new invention.

The business model of paying CEO’s over 20 million a year makes 0 sense and will crash and burn one day.

 

[Trauma]

This debt thing is becoming a recurring red herring

Comcast is debt laden but just schluggs along for decades…mainly because they have a physical product. Used to be cable…now it’s high speed. The gift that keeps on giving

Disney has less debt - good - but has a smaller, but significant, physical drive in parks and resorts with products.

So the “debt” talk is not really a huge deal. Disneys stock has tanked on the results of its products…not its debtload.

But that can change.

I’m glad that you disagree with me on the debt thing. I know you can carry out a conversation on the topic in “good faith”.

What are your feelings on the current debt load under this hypothetical ( yet certainly possible ) scenario.

A much smaller market cap say around $55 a share, with sharply decreasing revenues across all business sectors ?

 

[Disney Analyst]

The actual take away from this:

Beat on revenue and profits, parks did better, studios and streaming about even, did more stock buy backs, paid a dividend, increased wireless subscribers, lost a minimal number of broadband subscribers and still the stock took a beating.

What else could Comcast reasonably do?

I am sure the stock will rebound after the initial dump off but still, this is a great example of why the stock market it just a terrible measure of a company in the way people keep trying to use it.

Also. What’s going on in Orlando?

 

[Jrb1979]

Also. What’s going on in Orlando?

Probably something to do with WDW being down.15% this year so far.

 

[el_super]

Also. What’s going on in Orlando?

Probably the most concerning issue of all. Theme park business is booming everywhere except Orlando, the one place they decided to invest in a third park.

Still no real explanation / theory from Disney or Comcast why Orlando specifically is down from other regions?

 

[MisterPenguin]

Comcast sinks despite profit beat, as broadband subscribers slip and ad revenue slumps

Comcast revenue and earnings both topped analyst estimates as theme park sales rose, and Peacock added 4 million subscribers.

www.cnbc.com

Meanwhile in Burbank.....

Interesting to see that subscribers grew for their streamer, Peacock, and yet stocks went down despite lots of other good indicators.

It's almost as if Wall Street isn't counting total number of subscribers any more in their stock portfolio.

Remember that when we get Disney's filings.

 

[MisterPenguin]

Also. What’s going on in Orlando?

Funny. Wasn't most of the anecdotal evidence that as WDW was experiencing a slump in the number of guests, Universal was doing gangbusters?

 

[monothingie]

Interesting to see that subscribers grew for their streamer, Peacock, and yet stocks went down despite lots of other good indicators.

It's almost as if Wall Street isn't counting total number of subscribers any more in their stock portfolio.

Remember that when we get Disney's filings.

Apples and Oranges comparison.

Comcast is a telecommunications company first, entertainment conglomerate second. They were faced with setbacks in their core businesses that had a greater impact on investors sentiment which sent the stock negative.

Disney is only an entertainment conglomerate. If Disney had reported theme park and streaming success like Comcast had, investors would be wetting themselves.

 

[monothingie]

Funny. Wasn't most of the anecdotal evidence that as WDW was experiencing a slump in the number of guests, Universal was doing gangbusters?

Details count. IF your last quarters results are compared to the same period in FY2022, of course there will be a loss. 2022 was the year of unprecedented demand for revenge travel with Orlando leading the way. In 2023 the floor fell out. An objective comparison would be to see a direct comparison of the % loss per resort. Again you need to have a common point of reference before coming to a conclusion.

 

[LSLS]

Probably the most concerning issue of all. Theme park business is booming everywhere except Orlando, the one place they decided to invest in a third park.

Still no real explanation / theory from Disney or Comcast why Orlando specifically is down from other regions?

Maybe. Also could be people went west for the Nintendo world, or they are delaying til the new park opens. Or it's just Disney drives all other parks in the area still.

 

[flynnibus]

Comcast is a telecommunications company first, entertainment conglomerate second. They were faced with setbacks in their core businesses that had a greater impact on investors sentiment which sent the stock negative.

What setbacks? Losing 0.0604% of their broadband customers? This just highlights how dumb the focus on growth in residential internet subscribers is. Comcast doesn't build new housing. Growth of their footprint is not a consumer driven metric when their install base is largely regulated by local municipalities. So best thing they can do is target when there is new residential growth (which is lagging - not because of Comcast) and focus on attach rate where they do have service installed. Meanwhile, wireless internet will continue to grow in the US.

The big drop was likely more to do with their signaling that residential broadband will continue to contract... for the very two reasons mentioned above.

Expect them to buy a wireless player in the future to cover that market segment.

 

[MisterPenguin]

Maybe. Also could be people went west for the Nintendo world, or they are delaying til the new park opens. Or it's just Disney drives all other parks in the area still.

There were plenty of other indicators that tourism was down all over Orlando. But some wanted to make it a Disney v. Uni thing.

 

[seascape]

The most important numbers for Comcast are broadband numbers. They have declinded the last 2 quarters while TMobile and Verizon Wireless have increased. Comcast has more problems than the Walt Disney Company even though Universal Parks and Resorts are doing the best of any themepark company.

 

[Disney Analyst]

There were plenty of other indicators that tourism was down all over Orlando. But some wanted to make it a Disney v. Uni thing.

Very true, of course anecdotal, but I've seen a lot of articles, and videos, stating that it was down. Conventions cancelling or moving elsewhere, various tourism related businesses saying things are way slower than usual.

 

[Sirwalterraleigh]

I’m glad that you disagree with me on the debt thing. I know you can carry out a conversation on the topic in “good faith”.

What are your feelings on the current debt load under this hypothetical ( yet certainly possible ) scenario.

A much smaller market cap say around $55 a share, with sharply decreasing revenues across all business sectors ?

Disney stock is typically “overvalued”…which is a credit to it and a strength. They were always traded on “potential” long before that became in vogue.

But the last 5 years of Bobism…especially the government jetfuel spike…had it way overvalued

So they’ve far underperformed for 2 years on a consistent basis…you can chart the slide on a graph.

So there is a valuation problem now. Their product offerings certainly hasn’t reinforced the Trust.

They are at a business crossroads far more than we fans here want to consider

 

[Sirwalterraleigh]

The most important numbers for Comcast are broadband numbers. They have declinded the last 2 quarters while TMobile and Verizon Wireless have increased. Comcast has more problems than the Walt Disney Company even though Universal Parks and Resorts are doing the best of any themepark company.

That is there biggest segment - no doubt.

Comcast is investing a lot in new high speed…and rolling out more hotspot/wireless based d service to counter Verizon.

We’ll see if it makes a dent?

 

[flynnibus]

The most important numbers for Comcast are broadband numbers. They have declinded the last 2 quarters while TMobile and Verizon Wireless have increased.

You would hope...

One is established and built out... the others are offering newer services coming from zero.

This is another area where measuring by consumer count growth output is dumb for a fixed line service like a cable provider. Wireless providers thrive by taking market share and growing the customer base. Terrestrial services don't have the same runway. Comcast fixed install base is 10x the size of Verizon's FWA install base and more than 7x the TMobile base. Of course the market likes that Verizon and TMobile both have room to grow subs, while punishing Comcast for having little room to grow subs.

 

[BaconPancakes]

Also. What’s going on in Orlando?

Couldn't be due to the pudding fingers problem down there right?