Q1 26 EPS
$0.79
Q1 26 Revenue
$31.46B
Did CMCSA Beat Earnings? Q1 2026 Results
Comcast delivered a quarter defined by spectacle and sacrifice, posting Q1 2026 earnings per share of $0.79 and revenue of $31.46 billion as the dual weight of the Milan Cortina Winter Olympics and Super Bowl LX on NBCU platforms drove a surge in vie… Read more Comcast delivered a quarter defined by spectacle and sacrifice, posting Q1 2026 earnings per share of $0.79 and revenue of $31.46 billion as the dual weight of the Milan Cortina Winter Olympics and Super Bowl LX on NBCU platforms drove a surge in viewership but compressed profitability sharply. The two events contributed roughly $2.20 billion in incremental Media segment revenue, lifting pro forma revenue 10.9% year-over-year, yet the associated programming rights costs helped drag GAAP net income down 35.6% to $2.17 billion and pushed Adjusted EBITDA 16.8% lower to $7.93 billion, illustrating how premium live content can simultaneously inflate the top line and squeeze margins. Still, Comcast extended its beat streak to four consecutive quarters on EPS, and there were encouraging operational signals beneath the noise: domestic broadband customer losses narrowed to 65,000 from 183,000 a year ago, wireless lines grew to 9.7 million, and Peacock reached 46 million paid subscribers. Morgan Stanley's recently initiated Equal Weight coverage, citing broadband competition as a structural overhang, frames the road ahead accurately, even as this quarter's results reflect a company leaning hard into live events as its near-term growth lever.
Key Takeaways
- • Milan Cortina Winter Olympics and Super Bowl LX drove $2.2 billion in incremental Media revenue
- • Domestic broadband customer net losses improved by 117,000 year-over-year due to new go-to-market strategy with simpler, more transparent offers
- • Domestic wireless line net additions of 435,000, the best quarterly result, reaching 9.7 million total lines
- • Peacock paid subscribers grew 12% YoY to 46 million with revenue surpassing $2 billion
- • Epic Universe opening in May 2025 fueled Theme Parks revenue growth of 24.2% and EBITDA growth of 33.3%
- • Business Services Connectivity revenue grew 5.8% driven by enterprise solutions offerings including a recent acquisition
- • Content licensing revenue increased 36.8% driven by renewed Peacock-exclusive licensing agreement
CMCSA YoY Financials
Q1 2026 vs Q1 2025, source: SEC Filings
CMCSA Revenue by Segment
With YoY comparisons, source: SEC Filings
“2026 is an important year of execution, and we're seeing tangible early signs our pivot is taking hold. Broadband subscriber losses improved by more than 100,000 year-over-year, and we delivered record wireless line additions as customers respond to simpler, more transparent offers and a better end-to-end experience. Legendary February showcased the strength of our Media portfolio, leveraging the unmatched reach of the Milan Cortina Winter Olympics and the Super Bowl to drive record advertising and strong Peacock growth, while also powering our ability to market our connectivity products at scale. Importantly, we generated $3.9 billion in free cash flow and returned $2.5 billion to shareholders this quarter even as we continued to lean into investments across our core growth businesses, underscoring our disciplined approach to capital allocation.”
— Brian L. Roberts, Q1 2026 Earnings Press Release
CMCSA Earnings Trends
CMCSA vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
CMCSA EPS Trend
Earnings per share: estimate vs actual
CMCSA Revenue Trend
Quarterly revenue: estimate vs actual
CMCSA Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 | — | $0.79 | — | $31.46B | — |
| Q4 25 BEAT FY | $0.73 | $0.84 | +15.07% | $32.31B | +0.04% |
| FY Full Year | $4.20 | $4.31 | +2.57% | $123.71B | +0.01% |
| Q3 25 BEAT | $1.10 | $1.12 | +1.72% | $31.20B | +1.68% |
| Q2 25 BEAT | $1.18 | $1.25 | +5.87% | $30.31B | +1.71% |
| Q1 25 BEAT | $0.99 | $1.09 | +9.89% | $29.89B | +0.43% |