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Comcast

CMCSA Q3 2025 Earnings

Reported Oct 30, 2025 at 7:16 AM ET · SEC Source

Q3 25 EPS

$1.12

BEAT +1.72%

Est. $1.10

Q3 25 Revenue

$31.20B

BEAT +1.68%

Est. $30.68B

vs S&P Since Q3 25

+7.3%

BEATING MARKET

CMCSA +13.4% vs S&P +6.0%

Market Reaction

Did CMCSA Beat Earnings? Q3 2025 Results

Comcast delivered a clean beat to open its fiscal third quarter of 2025, posting adjusted EPS of $1.12 against a consensus estimate of $1.10, a 1.72% beat, while revenue of $31.20 billion topped expectations of $30.68 billion by 1.68%, even as the to… Read more Comcast delivered a clean beat to open its fiscal third quarter of 2025, posting adjusted EPS of $1.12 against a consensus estimate of $1.10, a 1.72% beat, while revenue of $31.20 billion topped expectations of $30.68 billion by 1.68%, even as the top line slipped 2.7% year-over-year. The headline revenue decline, however, tells an incomplete story: the comparison period included $1.90 billion in incremental Paris Olympics revenue, a one-time tailwind that distorted the year-ago baseline. Strip that away, and the underlying business showed notable resilience, headlined by a record 414,000 domestic wireless line net additions, the company's best quarterly result ever, lifting total wireless lines to 8.9 million. Theme Parks surged 18.7% to $2.72 billion following the May opening of Epic Universe in Orlando, and Peacock's EBITDA losses narrowed sharply to $217 million from $436 million a year ago. With Verizon recently announcing sweeping cost cuts amid intensifying wireless competition, Comcast's record wireless additions carry added strategic weight heading into the fourth quarter.

Key Takeaways

  • • Record 414,000 domestic wireless line net additions driven by converged broadband-wireless offerings
  • • Epic Universe theme park opening in May 2025 fueled 18.7% Theme Parks revenue growth
  • • Peacock EBITDA losses improved by $219 million year-over-year
  • • Jurassic World Rebirth grossed nearly $900 million in worldwide box office
  • • Business Services Connectivity revenue grew 6.2% with mid-single digit EBITDA growth
  • • New go-to-market strategy including national internet plans with everyday pricing and 5-year price guarantee
  • • Media revenue excluding Olympics grew 4.2%
24/7 Wall St

CMCSA YoY Financials

Q3 2025 vs Q3 2024, source: SEC Filings

24/7 Wall St

CMCSA Revenue by Segment

With YoY comparisons, source: SEC Filings

Q1 25 Q1 26

“We're making steady progress as we reposition the company for long-term, sustained growth. In Connectivity, we're taking deliberate steps to strengthen our broadband foundation and accelerate wireless as a meaningful growth engine, adding a record 414,000 wireless lines this quarter – clear evidence of the value of our converged offerings. In addition, Business Services delivered another solid performance, with mid-single digit revenue and Adjusted EBITDA growth. In Content & Experiences, we're building momentum across NBC and Peacock as we head into one of the most exciting stretches of live sports in our history, including robust NBA coverage which just began last week. The early success of Epic Universe contributed to 19% revenue growth at our Theme Parks, reflecting the strength of our newest attractions and the enduring appeal of the Universal brand. We generated $4.9 billion of free cash flow this quarter and $14.9 billion year-to-date despite significant investment we're making in repositioning our company, a testament to both the durability and resilience of our underlying business.”

— Brian L. Roberts, Q3 2025 Earnings Press Release

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