Sector analysis · US
Communication Services: which companies drove growth
The 20 largest Communication Services companies by market cap at the end of Q1 2025 (31 Mar 2025), compared with Q1 2024.
The top 20 at Q1 2025
Q1 2025 vs Q1 2024: combined net profit $74.7B (+37%), median EPS +12% (15 of 20 up), market-cap-weighted price +12%. 20 of 20 reported.
| # | Company | Weight | EPS $, base → now | EPS growth | Contribution | Price |
|---|---|---|---|---|---|---|
| 1 | Alphabet Inc. | 37.1% | 1.89 → 2.81 | +49% | +19.2 pp | +2% |
| 2 | Meta Platforms, Inc. | 28.4% | 4.71 → 6.43 | +37% | +7.5 pp | +19% |
| 3 | Netflix, Inc. | 7.8% | 0.53 → 0.66 | +25% | +1.0 pp | +53% |
| 4 | T-Mobile US, Inc. | 5.9% | 2.00 → 2.58 | +29% | +1.0 pp | +62% |
| 5 | AT&T Inc. | 4.0% | 0.47 → 0.61 | +30% | +1.6 pp | +60% |
| 6 | Verizon Communications Inc. | 3.8% | 1.09 → 1.15 | +6% | +0.5 pp | +8% |
| 7 | The Walt Disney Company | 3.5% | −0.01 → 1.81 | turned profitable | +5.8 pp | −20% |
| 8 | Comcast Corporation | 2.7% | 0.97 → 0.89 | −8% | −0.8 pp | −15% |
| 9 | DoorDash, Inc. | 1.5% | −0.06 → 0.44 | turned profitable | +0.4 pp | +30% |
| 10 | Charter Communications, Inc. | 1.0% | 7.54 → 8.42 | +12% | +0.2 pp | +23% |
| 11 | Live Nation Entertainment, Inc. | 0.6% | −0.53 → −0.32 | loss, smaller | +0.1 pp | +24% |
| 12 | The Trade Desk, Inc. | 0.5% | 0.06 → 0.10 | +57% | 0.0 pp | −38% |
| 13 | Warner Bros. Discovery, Inc. | 0.5% | −0.40 → −0.18 | loss, smaller | +0.9 pp | +24% |
| 14 | Fox Corporation | 0.5% | 1.40 → 0.75 | −46% | −0.6 pp | +80% |
| 15 | Liberty Media Corporation | 0.4% | 0.32 → 0.02 | −94% | −0.3 pp | +38% |
| 16 | Pinterest, Inc. | 0.4% | −0.04 → 0.01 | turned profitable | +0.1 pp | −12% |
| 17 | Reddit, Inc. | 0.4% | −8.19 → 0.13 | turned profitable | +1.1 pp | −15% |
| 18 | Zillow Group, Inc. Class C | 0.3% | −0.10 → 0.03 | turned profitable | +0.1 pp | +32% |
| 19 | Warner Music Group Corp. | 0.3% | 0.18 → 0.07 | −62% | −0.1 pp | −5% |
| 20 | Omnicom Group Inc. | 0.3% | 1.59 → 1.45 | −9% | −0.1 pp | −15% |
| Sector earnings growth | 100% | +37.5 pp |
Who joined and who left
1 joined and 1 left the top 20 since Q4 2024, as market caps moved.
Joined the top 20 since Q4 2024
Left the top 20 since Q4 2024
- Snap Inc.
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% |
| T | −40% | turned profitable | −18% | −20% | to loss | +87% | +30% | +27% | turned profitable | −7% | −11% | +6% |
| 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% |
| DASH | loss, smaller | loss, smaller | loss, smaller | loss, smaller | turned profitable | turned profitable | turned profitable | turned profitable | +45% | +47% | −5% | −29% |
| 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% |
| TTD | +147% | +36% | +240% | +158% | +142% | +89% | +57% | +6% | +21% | +11% | outside | outside |
| 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 |
| PINS | turned profitable | +1,020% | loss, smaller | turned profitable | +348% | +824% | turned profitable | +350% | +196% | −85% | outside | outside |
| RDDT | outside | outside | outside | outside | outside | +227% | turned profitable | turned profitable | +400% | +244% | +677% | +178% |
| Z | outside | outside | outside | outside | outside | loss, smaller | turned profitable | turned profitable | turned profitable | outside | outside | outside |
| WMG | +7% | +25% | +173% | +8% | −74% | outside | −62% | outside | outside | outside | outside | outside |
| OMC | +5% | +2% | +43% | −9% | +5% | +6% | −9% | outside | outside | to loss | +41% | +59% |