Comcast (CMCSA) earnings This fall 2025

Comcast posted combined outcomes for its fourth quarter on Thursday, beating analyst expectations on earnings however barely lacking on income. 

As soon as once more, Comcast’s broadband enterprise confirmed indicators of serious competitors going through cable corporations. Comcast stated it misplaced 181,000 home broadband clients throughout the interval, though it stated the losses have been offset by a rise in worldwide subscribers. 

The corporate’s cell providing remained a shiny spot, notching 364,000 additions throughout the interval and bringing its complete to greater than 9.3 million cell clients for Comcast’s latest enterprise. 

Final yr, Comcast stated it was shifting its technique to focus extra on rising its cell enterprise after going through continued stress in broadband, primarily on account of competitors from wi-fi suppliers like Verizon and T-Cell.

“The aggressive surroundings for broadband stays intense, much like prior quarters, however we noticed wi-fi competitors step up in direction of the top of the fourth quarter,” stated Comcast CFO Jason Armstrong throughout Thursday’s name with buyers. “Towards that backdrop, we proceed to advance our new go-to-market technique we launched earlier this yr.”

Here is how Comcast carried out within the interval ended Dec. 31 in contrast with common analyst estimates, in line with LSEG: 

• Earnings per share: 84 cents adjusted vs. 75 cents anticipated
• Income: $32.31 billion vs. $32.35 billion anticipated 

Internet earnings attributable to Comcast decreased 54.6% to $2.17 billion, or 60 cents per share, in contrast with $4.78 billion, or $1.24 per share a yr earlier. 

Adjusting for sure one-time gadgets — like the worth of intangible property, prices related to investments and prior-year tax advantages that Comcast stated made for an “unfavorable comparability” — the corporate reported adjusted internet earnings of $3.06 billion, or 84 cents per share. 

Comcast’s adjusted earnings earlier than curiosity, taxes, depreciation and amortization have been down 10% to $7.9 billion. 

The corporate’s general quarterly income was up greater than 1% to $32.31 billion. 

Income for Comcast’s connectivity and platforms unit – which incorporates its Xfinity-branded companies throughout broadband, pay TV and cell – was down 1% to $20.24 billion. 

Particularly, income fell 1% for the home broadband unit to roughly $6.32 billion. Whereas this mirrored the lower in broadband clients, it was partially offset by increased common charges, Comcast stated. 

Along with the broadband buyer losses and cell additions, Comcast misplaced 245,000 pay TV clients throughout the fourth quarter. The corporate now has 11.27 million complete pay TV clients. 

In the meantime, income for the corporate’s media unit, which incorporates NBCUniversal, rose 5.5% to $7.62 billion. 

This marks the ultimate quarter that NBCUniversal’s earnings report consists of its full portfolio of cable networks, as Comcast spun out most of its pay TV networks, together with CNBC and MS Now, into the publicly traded entity Versant. 

Home promoting income for the media enterprise was up 1.5% on account of the addition of the NBA on NBC, which helped propel general income.  

NBC’s streaming service, Peacock, added 3 million paid clients after three quarters of basically no change. It ended the yr with 44 million paid subscribers. The streaming service reported losses of $552 million for the fourth quarter, wider than the $372 million in losses it recorded within the prior yr interval.

These losses have been due partially to the impression of the NBA rights deal which started throughout the quarter.

Peacock noticed $1.6 billion in income in contrast with $1.3 billion the year-ago quarter.

Comcast’s Common movie studio income was down 7.4% to $3.03 billion on account of a drop in licensing and theatrical income compared with the prior-year quarter. The releases of “Depraved: For Good” and “Black Telephone 2” fell wanting final yr’s “Depraved” and “The Dangerous Robotic.”

Common theme parks income, nevertheless, was up 22% to roughly $2.9 billion, pushed by final yr’s opening of Epic Universe.

Disclosure: Versant Media is the guardian firm of CNBC. Comcast was the guardian firm of CNBC by the fourth quarter of 2025.