Sector analysis · US
Communication Services: which companies drove growth
The 20 largest Communication Services companies by market cap at the end of Q4 2024 (31 Dec 2024), compared with Q4 2023.
The top 20 at Q4 2024
Q4 2024 vs Q4 2023: combined net profit $72.8B (+59%), median EPS +53% (18 of 19 up), market-cap-weighted price +39%. 20 of 20 reported.
| # | Company | Weight | EPS $, base → now | EPS growth | Contribution | Price |
|---|---|---|---|---|---|---|
| 1 | Alphabet Inc. | 42.3% | 1.64 → 2.15 | +31% | +11.6 pp | +35% |
| 2 | Meta Platforms, Inc. | 27.0% | 5.33 → 8.02 | +50% | +13.5 pp | +64% |
| 3 | Netflix, Inc. | 6.9% | 0.21 → 0.43 | +104% | +1.8 pp | +82% |
| 4 | T-Mobile US, Inc. | 4.6% | 1.67 → 2.56 | +53% | +1.9 pp | +39% |
| 5 | The Walt Disney Company | 3.7% | 1.04 → 1.40 | +35% | +1.3 pp | +23% |
| 6 | Verizon Communications Inc. | 3.1% | −0.64 → 1.18 | turned profitable | +15.2 pp | +6% |
| 7 | AT&T Inc. | 3.0% | 0.30 → 0.56 | +87% | +3.7 pp | +36% |
| 8 | Comcast Corporation | 2.6% | 0.81 → 1.24 | +53% | +3.0 pp | −15% |
| 9 | DoorDash, Inc. | 1.3% | −0.39 → 0.33 | turned profitable | +0.6 pp | +71% |
| 10 | The Trade Desk, Inc. | 1.1% | 0.19 → 0.36 | +89% | +0.2 pp | +63% |
| 11 | Charter Communications, Inc. | 0.9% | 7.07 → 10.09 | +43% | +0.8 pp | −12% |
| 12 | Reddit, Inc. | 0.5% | 0.11 → 0.36 | +227% | +0.1 pp | — |
| 13 | Live Nation Entertainment, Inc. | 0.5% | −1.26 → 0.56 | turned profitable | +0.8 pp | +34% |
| 14 | Warner Bros. Discovery, Inc. | 0.5% | −0.16 → −0.20 | loss, bigger | −0.2 pp | −7% |
| 15 | Liberty Media Corporation | 0.4% | — → −0.99 | sources disagree | — | +48% |
| 16 | Fox Corporation | 0.4% | 0.23 → 0.81 | +252% | +0.5 pp | +61% |
| 17 | Pinterest, Inc. | 0.4% | 0.29 → 2.68 | +824% | +3.3 pp | −21% |
| 18 | Snap Inc. | 0.3% | −0.15 → 0.01 | turned profitable | +0.5 pp | −37% |
| 19 | Zillow Group, Inc. Class C | 0.3% | −0.31 → −0.22 | loss, smaller | 0.0 pp | +31% |
| 20 | Omnicom Group Inc. | 0.3% | 2.13 → 2.26 | +6% | +0.2 pp | −1% |
| Sector earnings growth | 100% | +58.8 pp |
Who joined and who left
2 joined and 2 left the top 20 since Q3 2024, as market caps moved.
Joined the top 20 since Q3 2024
Left the top 20 since Q3 2024
- Warner Music Group Corp.
- News Corporation
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% |
| DIS | +58% | +49% | to loss | turned profitable | +79% | +35% | turned profitable | +104% | +192% | −4% | −30% | −48% |
| VZ | −3% | to loss | −7% | −1% | −31% | turned profitable | +6% | +8% | +50% | −53% | +4% | −22% |
| T | −40% | turned profitable | −18% | −20% | to loss | +87% | +30% | +27% | turned profitable | −7% | −11% | +6% |
| CMCSA | turned profitable | +16% | +7% | −2% | −4% | +53% | −8% | +197% | −4% | −52% | −33% | −67% |
| 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% |
| RDDT | outside | outside | outside | outside | outside | +227% | turned profitable | turned profitable | +400% | +244% | +677% | +178% |
| LYV | +39% | loss, bigger | loss, bigger | +1% | −14% | turned profitable | loss, smaller | −60% | −56% | to loss | loss, bigger | +156% |
| WBD | loss, smaller | loss, smaller | loss, smaller | loss, bigger | turned profitable | loss, bigger | loss, smaller | turned profitable | to loss | loss, smaller | loss, bigger | −90% |
| FWONK | sources disagree | outside | sources disagree | sources disagree | sources disagree | sources disagree | −94% | sources disagree | sources disagree | sources disagree | +1,044% | sources disagree |
| FOXA | −25% | outside | outside | −8% | +117% | +252% | −46% | +131% | −26% | −36% | −49% | +3% |
| PINS | turned profitable | +1,020% | loss, smaller | turned profitable | +348% | +824% | turned profitable | +350% | +196% | −85% | outside | outside |
| SNAP | loss, bigger | loss, smaller | loss, smaller | loss, smaller | loss, smaller | turned profitable | outside | outside | outside | outside | outside | outside |
| Z | outside | outside | outside | outside | outside | loss, smaller | turned profitable | turned profitable | turned profitable | outside | outside | outside |
| OMC | +5% | +2% | +43% | −9% | +5% | +6% | −9% | outside | outside | to loss | +41% | +59% |