Sector analysis · US
Communication Services: which companies drove growth
The 20 largest Communication Services companies by market cap at the end of Q3 2024 (30 Sep 2024), compared with Q3 2023.
The top 20 at Q3 2024
Q3 2024 vs Q3 2023: combined net profit $58.0B (+16%), median EPS +37% (14 of 19 up), market-cap-weighted price +42%. 20 of 20 reported.
| # | Company | Weight | EPS $, base → now | EPS growth | Contribution | Price |
|---|---|---|---|---|---|---|
| 1 | Alphabet Inc. | 40.4% | 1.55 → 2.12 | +37% | +12.9 pp | +26% |
| 2 | Meta Platforms, Inc. | 28.7% | 4.39 → 6.03 | +37% | +8.0 pp | +91% |
| 3 | Netflix, Inc. | 6.0% | 0.37 → 0.54 | +45% | +1.3 pp | +87% |
| 4 | T-Mobile US, Inc. | 4.8% | 1.82 → 2.61 | +43% | +1.8 pp | +48% |
| 5 | Verizon Communications Inc. | 3.7% | 1.13 → 0.78 | −31% | −2.8 pp | +38% |
| 6 | The Walt Disney Company | 3.4% | 0.14 → 0.25 | +79% | +0.4 pp | +18% |
| 7 | Comcast Corporation | 3.2% | 0.98 → 0.94 | −4% | −0.8 pp | −6% |
| 8 | AT&T Inc. | 3.1% | 0.48 → −0.03 | to loss | −7.2 pp | +46% |
| 9 | DoorDash, Inc. | 1.2% | −0.19 → 0.38 | turned profitable | +0.5 pp | +75% |
| 10 | The Trade Desk, Inc. | 1.1% | 0.08 → 0.19 | +142% | +0.1 pp | +41% |
| 11 | Charter Communications, Inc. | 0.9% | 8.26 → 8.82 | +7% | 0.0 pp | −26% |
| 12 | Live Nation Entertainment, Inc. | 0.5% | 1.93 → 1.66 | −14% | −0.1 pp | +32% |
| 13 | Pinterest, Inc. | 0.4% | 0.01 → 0.04 | +348% | 0.0 pp | +19% |
| 14 | Omnicom Group Inc. | 0.4% | 1.86 → 1.95 | +5% | 0.0 pp | +39% |
| 15 | Warner Bros. Discovery, Inc. | 0.4% | −0.17 → 0.05 | turned profitable | +1.1 pp | −25% |
| 16 | Fox Corporation | 0.4% | 0.82 → 1.78 | +117% | +0.8 pp | +34% |
| 17 | Liberty Media Corporation | 0.4% | — → 0.48 | sources disagree | — | +32% |
| 18 | Snap Inc. | 0.4% | −0.23 → −0.09 | loss, smaller | +0.4 pp | +24% |
| 19 | Warner Music Group Corp. | 0.3% | 0.30 → 0.08 | −74% | −0.2 pp | 0% |
| 20 | News Corporation | 0.3% | 0.05 → 0.21 | +320% | +0.2 pp | +33% |
| Sector earnings growth | 100% | +16.4 pp |
Who joined and who left
0 joined and 0 left the top 20 since Q2 2024, as market caps moved.
Joined the top 20 since Q2 2024
Left the top 20 since Q2 2024
EPS growth by company, Q3 2023 to Q2 2026
Each company's EPS growth year on year, 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 | +46% | +56% | +62% | +31% | +37% | +31% | +49% | +22% | +35% | +31% | +82% | +294% |
| META | +168% | +203% | +114% | +73% | +37% | +50% | +37% | +38% | −83% | +11% | +62% | −13% |
| NFLX | +20% | +1,658% | +84% | +49% | +45% | +104% | +25% | +47% | +9% | +30% | +86% | +11% |
| TMUS | +355% | +42% | +27% | +34% | +43% | +53% | +29% | +14% | −8% | −27% | −12% | +5% |
| VZ | −3% | to loss | −7% | −1% | −31% | turned profitable | +6% | +8% | +50% | −53% | +4% | −22% |
| DIS | +58% | +49% | to loss | turned profitable | +79% | +35% | turned profitable | +104% | +192% | −4% | −30% | −48% |
| CMCSA | turned profitable | +16% | +7% | −2% | −4% | +53% | −8% | +197% | −4% | −52% | −33% | −67% |
| T | −40% | turned profitable | −18% | −20% | to loss | +87% | +30% | +27% | turned profitable | −7% | −11% | +6% |
| DASH | loss, smaller | loss, smaller | loss, smaller | loss, smaller | turned profitable | turned profitable | turned profitable | turned profitable | +45% | +47% | −5% | −29% |
| TTD | +147% | +36% | +240% | +158% | +142% | +89% | +57% | +6% | +21% | +11% | outside | outside |
| CHTR | +12% | −8% | +13% | +5% | +7% | +43% | +12% | +8% | −5% | +2% | +9% | +16% |
| LYV | +39% | loss, bigger | loss, bigger | +1% | −14% | turned profitable | loss, smaller | −60% | −56% | to loss | loss, bigger | +156% |
| PINS | turned profitable | +1,020% | loss, smaller | turned profitable | +348% | +824% | turned profitable | +350% | +196% | −85% | outside | outside |
| OMC | +5% | +2% | +43% | −9% | +5% | +6% | −9% | outside | outside | to loss | +41% | +59% |
| WBD | loss, smaller | loss, smaller | loss, smaller | loss, bigger | turned profitable | loss, bigger | loss, smaller | turned profitable | to loss | loss, smaller | loss, bigger | −90% |
| FOXA | −25% | outside | outside | −8% | +117% | +252% | −46% | +131% | −26% | −36% | −49% | +3% |
| FWONK | sources disagree | outside | sources disagree | sources disagree | sources disagree | sources disagree | −94% | sources disagree | sources disagree | sources disagree | +1,044% | sources disagree |
| SNAP | loss, bigger | loss, smaller | loss, smaller | loss, smaller | loss, smaller | turned profitable | outside | outside | outside | outside | outside | outside |
| WMG | +7% | +25% | +173% | +8% | −74% | outside | −62% | outside | outside | outside | outside | outside |
| NWSA | outside | outside | −40% | turned profitable | +320% | outside | outside | +1,389% | −5% | outside | outside | outside |