Comcast extends partnership with USA Gymnastics through 2028

INDIANAPOLIS - Comcast Corporation (NASDAQ:CMCSA), a prominent player in the media industry with a market capitalization of $141.75 billion, has reaffirmed its commitment to the sport of gymnastics by renewing its role as the title sponsor of the Xfinity U.S. Gymnastics Championships and as the presenting partner for USA Gymnastics National and World Championships teams leading up to the 2028 Olympic Games in Los Angeles. According to InvestingPro data, the company maintains strong financial health with a robust EBITDA of $38.1 billion in the last twelve months. The announcement made today highlights the ongoing relationship between the media and technology giant and the national governing body for gymnastics in the United States.

Under the extended partnership, Comcast’s Xfinity brand will maintain its status as the official Internet, Mobile, and Video provider for USA Gymnastics through 2028. This collaboration is set to support the U.S. National Gymnastics Teams as they prepare for the LA 2028 Olympics while also promoting the development of the sport nationwide. The company’s financial stability is evidenced by its consistent dividend payments, which it has maintained for 18 consecutive years, with a current yield of 3.53% and a 13.79% dividend growth in the last twelve months.

Matt Lederer, Vice President of Brand Partnerships & Engagement at Comcast, expressed pride in supporting the U.S. gymnastics athletes and enthusiasm for the continued partnership, particularly as the country prepares to host the Summer Olympic & Paralympic Games for the first time in over three decades.

The 2025 Xfinity U.S. Gymnastics Championships are scheduled to take place from August 7 to August 10 in New Orleans. Additionally, Comcast will contribute to the growth of USA Gymnastics’ programs, such as HUGS, which caters to athletes with special needs, and will support adaptive programs within the sport.

USA Gymnastics President and CEO Li Li Leung welcomed the extension of the partnership with Comcast, acknowledging the company’s role in enhancing the experience of the Paris Olympic journey and looking forward to their collaboration for the upcoming Los Angeles Games.

The renewal of this partnership underscores Comcast NBCUniversal’s long-term commitment to the Olympic and Paralympic Games, a legacy that began with NBC’s coverage of the events and was solidified when Comcast acquired NBCUniversal in 2011. Since then, Comcast has secured U.S. media rights for the Olympics through 2036. InvestingPro analysis suggests the company is currently undervalued, with a P/E ratio of 9.02 and strong profitability metrics. For detailed insights and additional ProTips about Comcast’s investment potential, investors can access the comprehensive Pro Research Report, available exclusively to InvestingPro subscribers.

This information is based on a press release statement from Comcast Corporation.

In other recent news, Comcast Corporation has announced several key developments. The company has expanded its Comcast Business services in Central Florida and Tampa Bay, aiming to provide enhanced technology solutions, including secure networking and advanced cybersecurity, to local enterprises. This expansion includes a team of experienced professionals dedicated to supporting business growth in the region. In analyst updates, both BofA Securities and JPMorgan have maintained a Neutral rating on Comcast stock, with price targets of $38 and $39, respectively. These ratings reflect the competitive pressures in the broadband market and revised financial projections, such as anticipated broadband customer losses and adjustments in earnings estimates.

Additionally, Comcast has introduced a new WiFi 6E gateway designed for apartment complexes, offering property-wide coverage and instant internet connectivity for residents. This gateway aims to enhance connectivity and convenience for multifamily properties. Furthermore, Comcast has appointed David Novak as Chairman of the Board for SpinCo, a planned spin-off entity expected to become a leading independent media company. SpinCo will house well-known brands and is projected to generate approximately $7 billion in annual revenue. These developments underscore Comcast’s strategic efforts to innovate and adapt within its industry.

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