Comcast Earnings: Better Than Expected

Comcast reported its first-quarter earnings for 2025 today , beating Wall Street’s expectations despite losing 199,000 broadband customers. This means they made more money than analysts predicted, even though fewer people signed up for their internet service. 

The company’s overall revenue was $29.89 billion, slightly above the expected $29.77 billion, and adjusted earnings per share were $1.09, topping the forecasted 98 cents. However, their stock dropped about 3% in premarket trading because investors were worried about the broadband losses, which is a key part of their business.

Even with fewer broadband customers, Comcast made more money by charging higher rates, boosting broadband revenue by 1.7% to $6.56 billion. Their newer businesses, like Xfinity Mobile (which added customers) and the streaming service Peacock, also helped. Additionally, their film studios and theme parks contributed to the strong results, despite some challenges.

NBCUniversal, Comcast’s media and entertainment division, played a significant role in the earnings beat, though it had both wins and losses. 

Here’s how it impacted the results:

• Peacock’s Growth:Peacock, NBCUniversal’s streaming service, was a bright spot. It grew to 41 million paid subscribers, beating analyst estimates of 37.21 million. This is a big jump from 36 million at the end of 2024.
• Revenue for Peacock increased 16% to about $1.3 billion, and its losses shrank to $215 million, compared to $639 million in the same quarter last year. This shows Peacock is moving toward profitability, which is good news for Comcast.
• The media segment, which includes Peacock, saw revenue rise 1% to $6.44 billion, with Peacock’s growth driving a 21% increase in adjusted EBITDA (a measure of profit) to $1 billion. This helped offset other media weaknesses.

The theme parks division, also part of NBCUniversal, was a weak point. Revenue fell 5% to $1.88 billion due to lower attendance, partly because of the Los Angeles wildfires. This dragged down the Content and Experiences segment’s overall performance.

Despite the drop, Comcast is optimistic about future growth with the upcoming Universal Epic Universe park opening in Florida on May 22, 2025, which they call their “most ambitious parks experience ever.”