NEW YORK ( TheStreet) - Comcast (CMCSA), the country's largest cable-TV provider, is betting that higher subscriber volume and improving ratings at NBC will reflect well in second-quarter earnings schedule to be released Wednesday before the start of market trading.
Analysts are expecting the company to post $16 billion in sales. Beating that number would allow Comcast to end a losing streak of missing Wall Street revenue projections for the last two quarters.
The Philadelphia-based pay-TV operator is expected to post a 6.4% growth in sales for the quarter, according to Goldman Sachs analysts in a report published on July 26. The bump is due in part to the popularity of "The Voice," and an entertaining string of NHL championship games. Programming is expected to generate 2.8% growth in advertising for the quarter ended June 30 compared to the same period a year ago.
Among Wall Street analysts, 25 rate the shares a buy; 7 maintain a hold rating and one has marked the stock a sell.Comcast fell 1.6% on Tuesday to close at $42.71, trimming its 2013 advance to 14%. By comparison, the S&P 500 has gained 18% this year. Deutsche Bank analysts have placed a 12-month $48 price target on the stock compared to $52 by Goldman Sachs' analysts. -- Written by Robert Arenella in New York >To contact the writer of this article, click here: Robert Arenella.
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