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Comcast

Comcast (CMCSA) Q2 2026 Earnings

Reported Jul 23, 2026 at 6:06 AM ET · SEC Source

Q2 26 EPS

$1.04

BEAT +7.52%

Est. $0.97

Q2 26 Revenue

$29.94B

BEAT +2.33%

Est. $29.26B

vs S&P Since Q2 26

-64.9%

TRAILING MARKET

CMCSA -64.8% vs S&P +0.1%

Market Reaction

Did CMCSA Beat Earnings? Q2 2026 Results

Comcast delivered a mixed but strategically pivotal second quarter, posting adjusted EPS of $1.04 and consolidated revenue of $29.94 billion, marking the company's fifth consecutive quarter of beating consensus EPS estimates even as both figures decl… Read more Comcast delivered a mixed but strategically pivotal second quarter, posting adjusted EPS of $1.04 and consolidated revenue of $29.94 billion, marking the company's fifth consecutive quarter of beating consensus EPS estimates even as both figures declined year-over-year amid a deliberate repositioning. The headline numbers were shaped largely by Comcast's broadband repricing initiative, which pressured domestic broadband revenue down 5.5% and weighed on the Connectivity & Platforms segment, where revenue fell 3.0% to $19.80 billion; management noted some encouragement in that domestic broadband net losses narrowed by 34,000 year-over-year to 167,000. The Content & Experiences segment provided a meaningful offset, with revenue climbing 22.9% to $10.73 billion, fueled by FIFA World Cup contributions and Peacock swinging to $189.00 million in EBITDA from a $101.00 million loss a year earlier, while wireless added 448,000 net lines to cross 10 million total. Looking ahead, Comcast's announced plan to spin off NBCUniversal and Sky as a standalone public company looms as the defining strategic variable, with management framing the separation as unlocking focused growth for both entities.

Key Takeaways

  • • Wireless line net additions of 448,000, best quarterly result on record
  • • Domestic broadband net losses improving by 34,000 year-over-year
  • • Peacock reaching quarterly profitability with $189 million EBITDA
  • • FIFA World Cup driving $440 million incremental Media revenue
  • • The Super Mario Galaxy Movie grossing over $1 billion worldwide box office year-to-date
  • • NBA playoff rights contributing to domestic advertising revenue growth
  • • Business Services Connectivity revenue growth driven by enterprise solutions
  • • Epic Universe opening driving higher Orlando theme park revenue

CMCSA Forward Guidance & Outlook

Comcast expressed confidence in the long-term opportunity for Theme Parks despite near-term softness, supported by world-class brands and proven ability to create consumer demand. The company highlighted substantial runway in wireless with penetration at only 7% of addressable lines. The announced separation of NBCUniversal and Sky via tax-free spin-off is positioned as creating two focused companies with financial strength and flexibility to pursue respective growth strategies. The share repurchase program has been paused as the company works through the separation process.

24/7 Wall St

CMCSA YoY Financials

Q2 2026 vs Q2 2025, source: SEC Filings

24/7 Wall St

CMCSA Revenue by Segment

With YoY comparisons, source: SEC Filings

Q1 25 Q2 26

“Second quarter results show continued progress against our strategic priorities. In Connectivity & Platforms, our strategic pivot in broadband is gaining traction, and we are seeing that progress extend across the broader connectivity portfolio. We delivered our best wireless quarter ever, surpassing 10 million total lines, while penetration remains below 7% of addressable wireless lines in our footprint - giving us substantial runway to deepen convergence and grow customer relationships. Business Services also continued its industry-leading growth, reinforcing the strength and breadth of our portfolio. Within Content & Experiences, Media delivered mid-single digit EBITDA growth and Peacock reached profitability for the first time, supported by a broad slate of sports, entertainment and major live events that drove strong engagement across our platforms. Our Studios continued to perform at a high level across franchises, animation, originals and specialty titles, capped by the recent success of The Odyssey. While we are seeing some near-term softness in Theme Parks, we remain confident in the long-term opportunity, supported by our world-class brands, attractive locations and proven ability to create attractions and experiences that drive real consumer demand. Across the company, we generated $4.6 billion of free cash flow, returned $2.1 billion to shareholders and announced our intention to separate NBCUniversal and Sky - an important step toward creating two focused companies with the financial strength and flexibility to pursue their respective growth strategies.”

— Brian L. Roberts, Q2 2026 Earnings Press Release

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