Comcast Corp Stock Price, News & Analysis

Comcast announced plans at SCTE Cable-Tec Expo 2022 to enhance its network energy efficiency by 2030, aiming to cut electricity consumption per data terabyte in half. The initiative is part of a nationwide transformation to virtual, cloud-based technologies, improving broadband speed and sustainability. Comcast also set a carbon neutrality goal for its operations by 2035, primarily focusing on renewable energy investments. Additionally, the company powered the Expo with 100% clean energy, underscoring its commitment to environmental efforts.

Comcast Business has completed a $2 million fiber network expansion in Philadelphia's Food Distribution Center, enhancing service to over 70 businesses. The network now provides Internet speeds of up to 100 Gbps for larger enterprises and 1.2 Gbps for small- and medium-sized businesses. This initiative supports critical operations including inventory tracking for food distributors. Since 2015, Comcast has invested nearly $102 million in network expansions, benefiting over 24,000 businesses in the Greater Philadelphia and New Jersey areas.

Comcast announced a new round of $10,000 grants available for 100 small businesses owned by women and people of color in Cook County, from October 3-16. This initiative, part of the Comcast RISE Investment Fund, totals $1 million for Cook County and $5 million across five selected locations. To date, Comcast RISE has awarded $21 million nationwide, supporting over 9,500 businesses in 37 states.

Xfinity Mobile has been identified as the fastest mobile service in Comcast service areas according to third-party data from Ookla. Leveraging a combination of 5G and WiFi connectivity, Xfinity Mobile provides median download speeds of 200 Mbps during Q2 2022, outperforming major competitors like T-Mobile, Verizon, and AT&T. Furthermore, Xfinity Mobile offers competitive pricing, with Unlimited plans available at $30 per line for two or more lines, potentially saving customers up to 50% on their wireless bills. The service has also received high customer satisfaction ratings.

Comcast announced an additional $1 million in grants to support 100 small businesses owned by women and people of color in Washington, D.C., raising the total to $2 million since 2021. This initiative is part of Comcast RISE, which aims to assist 13,000 small businesses by the end of 2022. The grants will help underrepresented entrepreneurs access funding and digital resources. Eligible businesses can apply from October 3 to October 16. Overall, Comcast RISE has awarded $21 million to over 9,500 entrepreneurs across the U.S.

Comcast has announced an additional round of grants from the Comcast RISE Investment Fund, offering $5 million to small businesses owned by people of color in Chicago, Miami, Oakland, Seattle, and Washington, D.C. Eligible businesses can apply for $10,000 grants from October 3 to October 16. This initiative has delivered a total of $21 million in grants to over 9,500 businesses, aiming to support long-term growth and mentorship.

Pooja Midha has been appointed Executive Vice President and General Manager for Effectv, replacing James Rooke. Midha, formerly Comcast Advertising’s Chief Growth Officer, will lead the company's transformation into a data-driven audience delivery company. Her role includes oversight of sales, operations, technology, and data innovation. Midha brings over 20 years of media and advertising experience, aiming to strengthen addressable advertising and expand programmatic capabilities. She will report to Rooke and be based in New York.

Comcast Corporation (NASDAQ: CMCSA) has announced a significant increase in its share repurchase program, now totaling $20.0 billion, effective from September 13, 2022. The updated authorization has no expiration date. During 2022, Comcast has successfully repurchased $9.0 billion of its Class A common stock, demonstrating a robust commitment to enhancing shareholder value. This strategic move aims to return capital to shareholders and reflects confidence in the company's financial health.

Comcast's Xfinity has been recognized as the fastest Internet provider in Illinois by Ookla's Speedtest Global Index. The report, based on consumer testing from Q2 2022, shows Xfinity leading in 12 states across the U.S., with a median download speed of 184 Mbps in Illinois. Comcast has invested significantly in its network to meet growing consumer demands for speed and connectivity. The rollout of the new Supersonic Gateway promises even faster speeds, and future enhancements aim for a 10G network, ensuring improved reliability and lower latency.