Comcast (CMCSA) earnings Q4 2025
comcast It reported mixed results for its fourth quarter on Thursday; It beat analysts’ expectations for earnings but fell slightly short on revenue.
Comcast’s broadband business once again showed signs of the significant competition facing cable companies. Comcast said it lost 181,000 domestic broadband customers during the period, but the losses were offset by an increase in international subscribers.
The company’s mobile services continued to be a bright spot; there were 364,000 new additions during the period, bringing the total for Comcast’s newest business to more than 9.3 million mobile customers.
Last year, Comcast said it was changing its strategy to focus more on growing its mobile business after facing continued pressure on broadband, especially competition from wireless providers. Verizon And T-Mobile.
Here’s how Comcast is doing carried out According to LSEG, compared to average analyst estimates for the period ending December 31:
- Earnings per share: 84 cents adjusted, 75 cents expected
- Revenues: $32.31 billion, expected $32.35 billion
Net income attributable to Comcast fell 54.6% to $2.17 billion, or 60 cents per share, from $4.78 billion, or $1.24 per share, the year before.
Adjusting for certain one-time items such as the value of intangible assets, expenses related to investments and prior-year tax benefits that Comcast said compared “unfavorably,” the company reported adjusted net income of $3.06 billion, or 84 cents per share.
Comcast’s adjusted earnings before interest, taxes, depreciation and amortization fell 10% to $7.9 billion.
The company’s total quarterly revenue rose more than 1% to $32.31 billion.
Revenue at Comcast’s connectivity and platforms unit, which includes Xfinity-branded services in broadband, pay TV and mobile, fell 1% to $20.24 billion.
Notably, revenue for the domestic broadband unit fell 1% to approximately $6.32 billion. Comcast said this reflected a decline in broadband customers but was partially offset by higher average rates.
Comcast lost 245,000 pay-TV customers in the fourth quarter, on top of broadband customer losses and mobile additions. The company currently has a total of 11.27 million pay TV customers.
Meanwhile, revenue for the company’s media unit, which includes NBCUniversal, rose 5.5% to $7.62 billion.
This marks the last quarter in which NBCUniversal’s earnings report included its entire cable network portfolio, as Comcast spun off most of its pay TV networks, including CNBC and MS Now, to a publicly traded entity. Versant.
Domestic advertising revenue for the media business increased 1.5% due to the addition of the NBA to NBC, which helped increase overall revenue.
NBC’s streaming service Peacock added 3 million paying customers after going through three quarters with no change. It closed the year with 44 million paid subscribers. The streaming service reported a loss of $552 million in the fourth quarter; This is deeper than the $372 million loss recorded in the prior-year period.
These losses were due in part to the impact of the NBA rights deal that began in the quarter.
Peacock generated $1.6 billion in revenue, up from $1.3 billion in the previous quarter.
Comcast’s Universal movie studio revenue fell 7.4% to $3.03 billion compared with the prior-year quarter, due to declines in licensing and theatrical revenues. The releases of “Wicked: For Good” and “Black Phone 2” lagged behind last year’s “Wicked” and “The Bad Robot.”
But revenue for Universal theme parks rose 22% to nearly $2.9 billion last year, driven by the opening of Epic Universe.
Disclosure: Versant Media is the parent company of CNBC. Comcast was the parent company of CNBC until the fourth quarter of 2025.
