Comcast reported second-quarter earnings and revenue on Thursday that topped Wall Street targets while both broadband and video subscriber losses came in lower than expected. Comcast stock climbed on the news.
On an adjusted basis, Comcast earnings came in at $1.25, up 4 cents from a year earlier, in the quarter ending June 30. Revenue rose 2.1% to $30.3 billion.
Analysts polled by FactSet had predicted adjusted earnings of 1.16 per share on revenue of $29.8 billion.
Record Wireless Subscriber Additions
In addition, Comcast said it lost 325,000 video customers and lost 226,000 broadband subscribers. Analysts polled by FactSet had estimated video subscriber losses of 377,000 and broadband subscriber losses of 255,000.
In a bright spot, Comcast said it added a record 378,000 wireless subscribers. Analysts had estimated wireless subscriber additions of 345,000.
On the stock market today, Comcast stock climbed 4.9% to above 34 in early trading.
Heading into the Comcast earnings report, shares were down 12% in 2025, with Wednesday's close the lowest since late 2022. Shares sold off last week after Charter Communications reported earnings.
Comcast Stock: Broadband Competition
Phone companies AT&T, T-Mobile US and Verizon Communications have expanded both wireless 5G broadband and fiber-optic network broadband services, pressuring Comcast and other cable TV firms.
Meanwhile, a slowdown in TV ad spending continues to impact NBCUniversal. But revenue growth at the theme parks business is expected to improve with the opening of Epic Universe in May.
Also, operating losses from the Peacock video streaming service have been trending lower.
Comcast plans to spin off a group of cable networks, led by USA Networks, CNBC, and MSNBC, into a new company called Versant Media Group. Bravo was excluded.
"Broadband still generates the bulk of Comcast's EBITDA (earnings before interest, taxes, depreciation and amortization) and will account for an even larger share following the Versant spinoff," said Bernstein analyst Laurent Yoon in a recent report.
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