Sector analysis · US
Communication Services: which companies drove growth
The 20 largest Communication Services companies by market cap at the end of Q2 2025 (30 Jun 2025), compared with Q1 2025.
The top 20 at Q2 2025
Q2 2025 vs Q1 2025: combined net profit $84.0B (+13%), median EPS +48% (17 of 19 up), market-cap-weighted price +18%. 20 of 20 reported.
| # | Company | Weight | EPS $, base → now | EPS growth | Contribution | Price |
|---|---|---|---|---|---|---|
| 1 | Alphabet Inc. | 35.7% | 2.81 → 2.31 | −18% | −8.4 pp | +14% |
| 2 | Meta Platforms, Inc. | 31.0% | 6.43 → 7.14 | +11% | +2.2 pp | +29% |
| 3 | Netflix, Inc. | 9.5% | 0.66 → 0.72 | +9% | +0.3 pp | +44% |
| 4 | T-Mobile US, Inc. | 4.5% | 2.58 → 2.84 | +10% | +0.4 pp | −11% |
| 5 | The Walt Disney Company | 3.7% | 1.81 → 2.92 | +61% | +2.6 pp | +27% |
| 6 | AT&T Inc. | 3.5% | 0.61 → 0.62 | +2% | +0.2 pp | +2% |
| 7 | Verizon Communications Inc. | 3.1% | 1.15 → 1.18 | +3% | +0.2 pp | −5% |
| 8 | Comcast Corporation | 2.2% | 0.89 → 2.97 | +234% | +10.3 pp | −3% |
| 9 | DoorDash, Inc. | 1.8% | 0.44 → 0.65 | +48% | +0.1 pp | +35% |
| 10 | Charter Communications, Inc. | 0.9% | 8.42 → 9.18 | +9% | +0.1 pp | +10% |
| 11 | The Trade Desk, Inc. | 0.6% | 0.10 → 0.18 | +80% | +0.1 pp | +37% |
| 12 | Live Nation Entertainment, Inc. | 0.6% | −0.32 → 0.41 | turned profitable | +0.3 pp | +14% |
| 13 | Warner Bros. Discovery, Inc. | 0.5% | −0.18 → 0.63 | turned profitable | +2.7 pp | +5% |
| 14 | Reddit, Inc. | 0.5% | 0.13 → 0.45 | +246% | +0.1 pp | +46% |
| 15 | Liberty Media Corporation | 0.4% | — → 1.52 | sources disagree | — | +18% |
| 16 | Fox Corporation | 0.4% | 0.75 → 1.57 | +109% | +0.5 pp | −2% |
| 17 | Pinterest, Inc. | 0.4% | 0.01 → 0.06 | +336% | 0.0 pp | +16% |
| 18 | Zillow Group, Inc. Class C | 0.3% | 0.03 → 0.01 | −73% | 0.0 pp | +9% |
| 19 | News Corporation | 0.3% | 0.18 → 1.30 | +622% | +0.8 pp | +9% |
| 20 | TKO Group Holdings, Inc. | 0.2% | 0.69 → 1.17 | +70% | +0.1 pp | +8% |
| Sector earnings growth | 100% | +12.6 pp |
Who joined and who left
2 joined and 2 left the top 20 since Q1 2025, as market caps moved.
Joined the top 20 since Q1 2025
Left the top 20 since Q1 2025
- Warner Music Group Corp.
- Omnicom Group Inc.
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% |
| 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% |
| T | −21% | −38% | +57% | +4% | to loss | turned profitable | +9% | +2% | +108% | −60% | +4% | +22% |
| VZ | +3% | to loss | turned profitable | 0% | −28% | +51% | −3% | +3% | −1% | −53% | +118% | −23% |
| CMCSA | −4% | −17% | +20% | +3% | −6% | +32% | −28% | +234% | −70% | −33% | 0% | +65% |
| DASH | loss, smaller | loss, bigger | loss, smaller | loss, bigger | turned profitable | −14% | +35% | +48% | −15% | −13% | −13% | +10% |
| 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 |
| LYV | +89% | to loss | loss, smaller | turned profitable | +61% | −67% | to loss | turned profitable | +78% | to loss | loss, bigger | turned profitable |
| 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 |
| RDDT | outside | outside | outside | outside | outside | +125% | −64% | +246% | +78% | +55% | −19% | +24% |
| FWONK | sources disagree | outside | sources disagree | sources disagree | sources disagree | sources disagree | sources disagree | sources disagree | sources disagree | sources disagree | sources disagree | −91% |
| FOXA | +11% | outside | outside | −51% | +162% | −54% | −7% | +109% | −16% | −61% | −27% | +326% |
| PINS | turned profitable | +2,859% | to loss | turned profitable | +251% | +6,005% | −100% | +336% | +131% | +215% | outside | outside |
| Z | outside | outside | outside | outside | outside | loss, bigger | turned profitable | −73% | +370% | outside | outside | outside |
| NWSA | outside | outside | −81% | +67% | +141% | outside | outside | +622% | −85% | outside | outside | outside |
| TKO | outside | outside | outside | outside | outside | outside | outside | +70% | outside | outside | turned profitable | +20% |