Comcast

CMCSA Q2 2025 Earnings

Reported Jul 31, 2025 at 7:07 AM ET · SEC Source

Q2 25 EPS

$1.25

BEAT +5.87%

Est. $1.18

Q2 25 Revenue

$30.31B

BEAT +1.71%

Est. $29.80B

vs S&P Since Q2 25

-19.7%

TRAILING MARKET

CMCSA -5.7% vs S&P +14.0%

Market Reaction

Did CMCSA Beat Earnings? Q2 2025 Results

Comcast delivered a solid beat across the board in Q2 2025, with adjusted EPS of $1.25 clearing the $1.18 consensus by 5.87% and revenue of $30.31 billion coming in 1.71% ahead of estimates, up 2.1% year over year, as the company leaned on its divers… Read more Comcast delivered a solid beat across the board in Q2 2025, with adjusted EPS of $1.25 clearing the $1.18 consensus by 5.87% and revenue of $30.31 billion coming in 1.71% ahead of estimates, up 2.1% year over year, as the company leaned on its diversified growth engines to offset continued pressure in residential broadband. The single most compelling driver beyond the headline numbers was Theme Parks, where revenue surged 18.9% following the May 22 opening of Epic Universe at Universal Orlando Resort, underscoring management's long-term bet on experiences as a counterweight to cord-cutting. Peacock added further momentum, narrowing its EBITDA loss sharply to $101 million from $348 million a year ago on $1.20 billion in revenue, a trajectory that looks set to improve further with NBA coverage arriving on the platform this fall. Even as broader markets moved higher on earnings optimism, Comcast's broadband turnaround strategy, built around everyday pricing and a five-year price guarantee, remains the critical test ahead.

Key Takeaways

  • Wireless business achieved best quarter ever with 378,000 line net additions
  • Epic Universe grand opening on May 22 drove Theme Parks revenue growth of 18.9%
  • Peacock revenue grew 18% to $1.2 billion with EBITDA losses narrowing by $247 million
  • Business Services Connectivity revenue grew 6.3% driven by enterprise solutions and higher small business rates
  • Domestic broadband revenue increased from higher average rates despite customer losses
  • How to Train Your Dragon grossed over $600 million in worldwide box office
  • $9.4 billion gain from sale of Hulu interest
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CMCSA YoY Financials

Q2 2025 vs Q2 2024, source: SEC Filings

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CMCSA Revenue by Segment

With YoY comparisons, source: SEC Filings

Q1 25 Q1 26

“We delivered solid financial results in the second quarter, growing Adjusted EPS by 3% and generating $4.5 billion of free cash flow, while continuing to invest in our growth businesses and returning $2.9 billion to shareholders.”

— Brian L. Roberts, Q2 2025 Earnings Press Release