Comcast (CMCSA) Stock: Rallies as Q2 Earnings Beat Wall Street Estimates

TLDR

Table of Contents

Comcast reported Q2 adjusted earnings of $1.25 per share, beating analyst estimates of $1.17
Revenue increased 2% year-over-year to $30.31 billion, topping forecasts of $29.77 billion
The company lost fewer broadband and video subscribers than expected while adding record wireless customers
Peacock streaming revenue rose 18% to $1.2 billion with 41 million subscribers
Stock jumped 8% in premarket trading after being down 12% year-to-date

Comcast delivered a pleasant surprise to investors Thursday morning with second-quarter results that exceeded expectations across key metrics. The cable and entertainment giant’s stock climbed sharply in early trading after the earnings announcement.

Comcast, $CMCSA, Q2-25. Results:
📊 Adj. EPS: $1.25 🟢
💰 Revenue: $30.31B 🟢
📈 Net Income: $11.12B
🔎 Wireless business posted its best quarter ever with 378K net line additions; Peacock narrowed losses and revenue rose 18%. pic.twitter.com/wemSC0Ws7D
— EarningsTime (@Earnings_Time) July 31, 2025

The company posted adjusted earnings per share of $1.25, beating analyst projections of $1.17. Revenue grew 2% year-over-year to reach $30.31 billion, surpassing the $29.77 billion estimate from Visible Alpha.

Comcast shares jumped 8% in premarket trading following the results. The stock had been struggling this year, down about 12% since January and hitting its lowest level since late 2022 just before the earnings release.

Subscriber Numbers Tell Mixed Story

The real story emerged in Comcast’s subscriber metrics, where losses proved less severe than Wall Street feared. The company shed 226,000 broadband internet customers during the quarter, better than the estimated loss of 255,000 subscribers.

Video subscriber losses also came in lighter than expected. Comcast lost 325,000 domestic video customers compared to analyst estimates of 377,000 departures.

The bright spot came from wireless services. Comcast added a record 378,000 wireless line customers, exceeding the projected 345,000 additions. This growth reflects the company’s push into mobile services as traditional cable offerings face pressure.

Phone companies like AT&T, T-Mobile, and Verizon continue expanding their 5G broadband and fiber-optic services. This competition puts ongoing pressure on Comcast and other cable providers in their core broadband business.

Peacock Streaming Shows Growth

Comcast’s Peacock streaming service continued its upward trajectory during the quarter. Revenue from the platform increased 18% to $1.2 billion, with subscriber count reaching 41 million users.

Operating losses from Peacock have been trending lower, providing some relief for the overall business. The streaming service remains part of Comcast’s strategy to compete with other major platforms.

NBCUniversal faced headwinds from slower TV advertising spending. However, the theme parks business expects improvement with the opening of Epic Universe scheduled for May.

Last quarter’s results had also topped estimates, but declining broadband and cable customer numbers weighed on the stock performance. Thursday’s report showed similar trends but with smaller losses than anticipated.

Comcast announced plans last November to spin off most of its NBCUniversal cable TV channels. The new standalone company will include MSNBC, CNBC, and USA Network under the name Versant Media Group.

Bravo was excluded from the spinoff plans. The move represents Comcast’s effort to streamline operations and focus on core growth areas.

Broadband services generate the majority of Comcast’s EBITDA and will represent an even larger share following the Versant spinoff. This business remains crucial despite competitive pressures from telecom companies.

The earnings beat comes at a time when cable companies face multiple challenges. Cord-cutting continues as consumers shift to streaming services, while wireless carriers expand into broadband territory.

Comcast stock had sold off last week after Charter Communications reported its earnings results. The cable sector has faced investor skepticism about growth prospects in a changing media landscape.

Revenue from wireless services added 378,000 customers in the second quarter, representing the company’s best quarterly performance in this segment.

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