Comcast stock surges 32% in one year, moves past Verizon

Comcast Center headquarters in Philadelphia. Image: Comcast

Delivering a decidedly bullish message for the cable business, Comcast stock has surged 32% in the last year, with the company’s market capitalization moving past Verizon and approaching $200 billion.

As of midday trading Monday, Comcast had a market cap of $197.159 billion, usurping Verizon’s value of $188.453 billion. A decade ago, the No. 1 wireless carrier was worth twice as much as the No. 1 cable operator. 

Comcast’s stock price has increased by 155% in the last five years.


Like this story? Subscribe to FierceVideo!

The Video industry is an ever-changing world where big ideas come along daily. Cable, Media and Entertainment, Telco, and Tech companies rely on FierceVideo for the latest news, trends, and analysis on video creation and distribution, OTT delivery technologies, content licensing, and advertising strategies. Sign up today to get news and updates delivered to your inbox and read on the go.

Related: Comcast security vendor tries to shut down anti-Comcast site

“It’s an extraordinary turn of events,” said MoffettNathanson’s Craig Moffett, one of a number of telecom industry analysts who delivered bullish assessments  of the cable business to Comcast’s hometown newspaper, the Philadelphia Inquirer, this morning. “This milestone speaks to the company’s decades-long consistency of vision, perseverance, and success as a deal-maker. And, of course, it doesn’t hurt that cable has turned out to be a very good business.”

The paper said that investor sentiment has “soured” on Verizon, which gets 80% of its revenue from the competitive wireless business. Comcast and the cable industry, the Inquirer reported, are better positioned for the ongoing bump in consumer broadband demand. Notably, Verizon’s market cap is roughly flat with where it was five years ago. 

“People have been predicting cable’s demise for more than 10 years,” added Kevin Werbach, an associate professor of legal studies at the Wharton School of the University of Pennsylvania. “But there is a counter view that cable has the best infrastructure for broadband, and that means that ultimately cable wins.”

Added Neil Begley, senior VP with Moody’s Investors Service: “It’s pretty simple. The only ubiquitous network out there that has consistent broadband capacity and speed is the cable network.”


Suggested Articles

CuriosityStream, a subscription video service specializing in science and nature series and films, said it now has 10.5 million paying subscribers.

Didja is today launching LocalBTV – its free local broadcast television streaming app – in the Philadelphia designated market area.

AMC Networks said that its four subscription streaming video services now have more than 2 million subscribers combined.