Sector analysis · US
Communication Services: which companies drove growth
The 20 largest Communication Services companies by market cap at the end of Q3 2023 (30 Sep 2023), compared with Q2 2023.
The top 20 at Q3 2023
Q3 2023 vs Q2 2023: combined net profit $49.8B (+13%), median EPS +8% (15 of 18 up), market-cap-weighted price +3%. 20 of 20 reported.
| # | Company | Weight | EPS $, base → now | EPS growth | Contribution | Price |
|---|---|---|---|---|---|---|
| 1 | Alphabet Inc. | 45.7% | 1.44 → 1.55 | +8% | +2.8 pp | +10% |
| 2 | Meta Platforms, Inc. | 21.3% | 2.98 → 4.39 | +47% | +7.9 pp | +3% |
| 3 | Comcast Corporation | 5.0% | 1.02 → 0.98 | −4% | −0.4 pp | +8% |
| 4 | Netflix, Inc. | 4.6% | 0.33 → 0.37 | +13% | +0.4 pp | −14% |
| 5 | T-Mobile US, Inc. | 4.5% | 1.86 → 1.82 | −2% | −0.2 pp | +3% |
| 6 | The Walt Disney Company | 4.1% | −0.25 → 0.14 | turned profitable | +1.5 pp | −9% |
| 7 | Verizon Communications Inc. | 3.8% | 1.10 → 1.13 | +3% | +0.2 pp | −13% |
| 8 | AT&T Inc. | 3.0% | 0.61 → 0.48 | −21% | −2.1 pp | −6% |
| 9 | Charter Communications, Inc. | 1.8% | 8.05 → 8.26 | +3% | +0.1 pp | +20% |
| 10 | The Trade Desk, Inc. | 1.1% | 0.07 → 0.08 | +19% | 0.0 pp | +1% |
| 11 | DoorDash, Inc. | 0.9% | −0.44 → −0.19 | loss, smaller | +0.2 pp | +3% |
| 12 | Warner Bros. Discovery, Inc. | 0.7% | −0.51 → −0.17 | loss, smaller | +1.7 pp | −13% |
| 13 | Live Nation Entertainment, Inc. | 0.5% | 1.02 → 1.93 | +89% | +0.5 pp | −9% |
| 14 | Pinterest, Inc. | 0.5% | −0.05 → 0.01 | turned profitable | +0.1 pp | −3% |
| 15 | Sirius XM Holdings Inc. | 0.5% | — → 0.94 | sources disagree | — | 0% |
| 16 | Warner Music Group Corp. | 0.4% | 0.24 → 0.30 | +25% | +0.1 pp | +20% |
| 17 | Fox Corporation | 0.4% | 0.74 → 0.82 | +11% | +0.1 pp | −6% |
| 18 | Omnicom Group Inc. | 0.4% | 1.82 → 1.86 | +2% | 0.0 pp | −21% |
| 19 | Liberty Media Corporation | 0.4% | — → 0.48 | sources disagree | — | −14% |
| 20 | Snap Inc. | 0.4% | −0.24 → −0.23 | loss, smaller | 0.0 pp | −26% |
| Sector earnings growth | 100% | +12.9 pp |
Who joined and who left
0 joined and 0 left the top 20 since the previous quarter, as market caps moved.
Joined the top 20 since the previous quarter
Left the top 20 since the previous quarter
EPS growth by company, Q3 2023 to Q2 2026
Each company's EPS growth quarter on quarter, every quarter it was in the top 20.
| Q3 2023 | Q4 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | Q2 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| GOOGL | +8% | +6% | +15% | 0% | +12% | +1% | +31% | −18% | +24% | −2% | +81% | +78% |
| META | +47% | +21% | −12% | +10% | +17% | +33% | −20% | +11% | −85% | +745% | +18% | −41% |
| CMCSA | −4% | −17% | +20% | +3% | −6% | +32% | −28% | +234% | −70% | −33% | 0% | +65% |
| NFLX | +13% | −43% | +151% | −8% | +10% | −20% | +53% | +9% | −18% | −5% | +120% | −35% |
| TMUS | −2% | −8% | +20% | +25% | +5% | −2% | +1% | +10% | −15% | −22% | +21% | +32% |
| DIS | turned profitable | +643% | to loss | turned profitable | −83% | +460% | +29% | +61% | −75% | +84% | −5% | +19% |
| VZ | +3% | to loss | turned profitable | 0% | −28% | +51% | −3% | +3% | −1% | −53% | +118% | −23% |
| T | −21% | −38% | +57% | +4% | to loss | turned profitable | +9% | +2% | +108% | −60% | +4% | +22% |
| CHTR | +3% | −14% | +7% | +13% | +4% | +14% | −17% | +9% | −9% | +24% | −11% | +16% |
| TTD | +19% | +142% | −67% | +168% | +12% | +89% | −72% | +80% | +28% | +74% | outside | outside |
| DASH | loss, smaller | loss, bigger | loss, smaller | loss, bigger | turned profitable | −14% | +35% | +48% | −15% | −13% | −13% | +10% |
| WBD | loss, smaller | loss, smaller | loss, bigger | loss, bigger | turned profitable | to loss | loss, smaller | turned profitable | to loss | loss, bigger | loss, bigger | turned profitable |
| LYV | +89% | to loss | loss, smaller | turned profitable | +61% | −67% | to loss | turned profitable | +78% | to loss | loss, bigger | turned profitable |
| PINS | turned profitable | +2,859% | to loss | turned profitable | +251% | +6,005% | −100% | +336% | +131% | +215% | outside | outside |
| SIRI | sources disagree | −52% | +13% | outside | outside | outside | outside | outside | outside | outside | outside | outside |
| WMG | +25% | 0% | −40% | +44% | −70% | outside | −85% | outside | outside | outside | outside | outside |
| FOXA | +11% | outside | outside | −51% | +162% | −54% | −7% | +109% | −16% | −61% | −27% | +326% |
| OMC | +2% | +15% | −25% | +4% | +18% | +16% | −36% | outside | outside | to loss | turned profitable | +2% |
| FWONK | sources disagree | outside | sources disagree | sources disagree | sources disagree | sources disagree | sources disagree | sources disagree | sources disagree | sources disagree | sources disagree | −91% |
| SNAP | loss, smaller | loss, smaller | loss, bigger | loss, smaller | loss, smaller | turned profitable | outside | outside | outside | outside | outside | outside |