Comcast reported first-quarter results Thursday that beat Wall Street on both the top and bottom lines. The stock jumped as much as 8.2% in premarket trading, reaching $31.77.
COMCAST $CMCSA Q1’26 EARNINGS HIGHLIGHTS
Revenue: $31.46B (Est. $30.37B)
; +5.3% Y/Y
— Wall St Engine (@wallstengine) April 23, 2026
Adjusted earnings per share came in at $0.79, ahead of the $0.73 analysts had penciled in. Revenue rose 5.3% year over year to $31.46 billion, clearing the $30.43 billion consensus estimate.
Net income fell nearly 36% to $2.17 billion, or $0.60 per share. That drop reflects higher costs tied to sports rights and Olympic production expenses. Adjusted EBITDA slid roughly 17% to $7.93 billion.
The broadband number was the headline figure investors were watching. Comcast lost just 65,000 domestic broadband customers in the quarter. That is a sharp improvement from the 183,000 lost in the same period last year, and well below the 173,700 losses Wall Street had expected.
Comcast’s connectivity and platforms segment — which covers Xfinity broadband, cable TV, and mobile — remains its most profitable unit. Revenue there dipped 2% to $17.32 billion, but the narrowing subscriber losses eased investor concern.
The company has been fighting back against competition from wireless providers like Verizon and T-Mobile by rolling out more competitive pricing packages over the past year.
Cable TV losses also improved. Comcast shed 322,000 TV customers compared to 427,000 in the year-ago period.
Mobile was a bright spot. The company added 435,000 new mobile lines in the quarter, bringing the total to 9.7 million customers.
NBCUniversal had a standout quarter. Comcast called it “Legendary February,” a period that included the Super Bowl, Winter Olympics, and NBA All-Star Weekend all landing in the same stretch.
The media segment posted a 61% revenue jump to $7.28 billion. Strip out the Olympics and Super Bowl, and it was still up 13%.
Domestic advertising revenue for the media unit surged 135% to $3.45 billion. NBC pulled in an average of $8 million per 30-second Super Bowl spot, according to CNBC.
Peacock added subscribers too. The streaming service grew 12% year over year to 46 million, with revenue nearly doubling to $2.1 billion. The streamer still posted a quarterly loss of $432 million, wider than the $215 million loss a year ago due to higher sports costs.
Beyond media, Comcast’s other units also posted gains. Film studio revenue rose 21% to $3.43 billion.
Universal theme parks revenue climbed 24% to $2.33 billion. The parks got a lift from Epic Universe, which opened last May.
The company is scheduled to hold its investor call at 8:30 a.m. ET on Thursday.
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