Chief Financial Officer Mike Cavanagh stated that 2020 was an anomaly for growth and told investors to expect profits to be more akin to 2019 in 2021. 2020 saw a 55% rate first-quarter profits, the bulk of the increase coming from its broadband and phone line services. Sadly, the article does not detail how much of this is from their internet essentials packages, or demographic breakdowns of new customers (ideally, I should be able to find those later). With Comcast investing in free access internet and education centers in and around Philadelphia, I am curious to see how this will play into their plan. I am also curious how much education, more specifically remote education, will permanently alter Comcast’s business. For example, some school districts are considering doing away with snow days and instead doing remote learning when snow prevents students from coming to school. This would mean many customers who only signed up for remote education would need to remain signed up and continue to pay.
Lillian Rizzo, 1 May 2021, " Comcast’s Profit Soars Amid Broadband, Wireless Growth ", contributed by Andrew Rosenthal, The Energy Rights Project, Platform for Experimental Collaborative Ethnography, last modified 1 May 2021, accessed 30 April 2024. https://energyrights.info/content/comcast’s-profit-soars-amid-broadband-wireless-growth
Critical Commentary
Chief Financial Officer Mike Cavanagh stated that 2020 was an anomaly for growth and told investors to expect profits to be more akin to 2019 in 2021. 2020 saw a 55% rate first-quarter profits, the bulk of the increase coming from its broadband and phone line services. Sadly, the article does not detail how much of this is from their internet essentials packages, or demographic breakdowns of new customers (ideally, I should be able to find those later). With Comcast investing in free access internet and education centers in and around Philadelphia, I am curious to see how this will play into their plan. I am also curious how much education, more specifically remote education, will permanently alter Comcast’s business. For example, some school districts are considering doing away with snow days and instead doing remote learning when snow prevents students from coming to school. This would mean many customers who only signed up for remote education would need to remain signed up and continue to pay.