Jun 2026 (Q2 FY26) — Jul 23, 2026
Comcast Q2 FY26 — Strong Wireless Growth and Peacock Profitability Amidst Strategic Pivot
Read the full callComcast (CMCSA) earnings
- Jun 2026
- Jun 2026 (Q2 FY26)
- Dec 2025
Comcast earnings: last reported Thu, 23 Jul 2026, for the quarter ended Jun 2026.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 29,940 | −1.2% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | 17.2 | −2.5 pts YoY | Operating profit / revenue | Quarter to Jun 2026 | For the quarter; a change is in percentage points. |
| Net profit | 3,526 | −68.3% YoY | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. |
Guidance
What management said, and what became of it
14 of 20 judged targets kept · 15 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Broadband ARPU pressure | incremental pressure | Mar 2026 | As a result, broadband ARPU declined 3.8% in the quarter. Additionally, we continue to invest in the customer experience and go-to-market capabilities needed to support this broader shift, which contributed to a 5.8% decline in connectivity and platforms EBITDA. These results are consistent with our remarks on last quarter's earnings call, where we previewed incremental pressure on both ARPU and EBITDA growth. | Achieved |
| Broadband ARPU and Connectivity & Platforms EBITDA growth | modest improvements | Jun 2026 | That remains our expectation, and we expect modest improvements starting in the third quarter. | New |
6 of COMCAST CORP's 35 targets were missed. See which ones, and which are quietly gone. The 2 above are the free sample; 33 more targets are in the full ledger.
Claimed
- Wireless achieved a record 448,000 net line additions, crossing 10 million total lines for the first time.
- Peacock reached profitability for the first time, generating $189 million of EBITDA in the quarter.
- Peacock added 2 million paid subscribers sequentially, reaching 48 million, and saw revenue increase 54%.
- Studios revenue increased 25% and EBITDA increased $141 million year-over-year, driven by successful theatrical releases.
- Generated $4.6 billion of free cash flow, returning $2.1 billion to shareholders, including $900 million in share repurchases.
Qualified
- Consolidated adjusted EBITDA declined 5% year-over-year.
- Broadband subscriber losses were 167,000, despite improving year-over-year.
- Broadband ARPU declined 3.8% due to the go-to-market pivot and free wireless lines.
- Connectivity and Platforms EBITDA declined 5.8% due to strategic investments.
- Theme Parks EBITDA declined 5%, with Orlando attendance softening in June and Osaka impacted by China travel restrictions.
Price
$21.9 0.00% · $0
Performance −25.9% 1Y
1Y: $29.54 on 17 Oct 2025 → $21.9. High $32.48 (11 Feb 2026), low $20.66 (9 Oct 2026).
- Previous close
- $21.9
- 52-week range
- $20.66 – $32.48
- One year
- −25.94%
Overview
- Symbol
- CMCSA
- Sector
- Communication Services
- Exchange
- US
- Currency
- USD
Guidance
What management said, and what became of it
14 of 20 judged targets kept · 15 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Broadband ARPU pressure | incremental pressure | Mar 2026 | As a result, broadband ARPU declined 3.8% in the quarter. Additionally, we continue to invest in the customer experience and go-to-market capabilities needed to support this broader shift, which contributed to a 5.8% decline in connectivity and platforms EBITDA. These results are consistent with our remarks on last quarter's earnings call, where we previewed incremental pressure on both ARPU and EBITDA growth. | Achieved |
| Broadband ARPU and Connectivity & Platforms EBITDA growth | modest improvements | Jun 2026 | That remains our expectation, and we expect modest improvements starting in the third quarter. | New |
Claimed
- Wireless achieved a record 448,000 net line additions, crossing 10 million total lines for the first time.
- Peacock reached profitability for the first time, generating $189 million of EBITDA in the quarter.
- Peacock added 2 million paid subscribers sequentially, reaching 48 million, and saw revenue increase 54%.
- Studios revenue increased 25% and EBITDA increased $141 million year-over-year, driven by successful theatrical releases.
- Generated $4.6 billion of free cash flow, returning $2.1 billion to shareholders, including $900 million in share repurchases.
Qualified
- Consolidated adjusted EBITDA declined 5% year-over-year.
- Broadband subscriber losses were 167,000, despite improving year-over-year.
- Broadband ARPU declined 3.8% due to the go-to-market pivot and free wireless lines.
- Connectivity and Platforms EBITDA declined 5.8% due to strategic investments.
- Theme Parks EBITDA declined 5%, with Orlando attendance softening in June and Osaka impacted by China travel restrictions.
The full ledger
Open COMCAST CORP’s full ledger
A free account opens 5 company ledgers a month. All 35 tracked commitments, with each call’s wording and source.
Call summaries
Mar 2026 (Q1 FY26) — Apr 23, 2026
Comcast Q1 FY26 — strategic pivot shows first broadband improvement since 2020 as investment pressures EBITDA
Read the full callDec 2025 (Q4 FY25) — Jan 29, 2026
Comcast Q4 FY25 — Strategic Pivot and Growth Engine Focus
Read the full callEvery analysed call
Comcast earnings calls (CMCSA)
Financials
What the filings say
Net profit, year on year: −68% (quarter to jun 2026 against jun 2025).
| Line item | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 32,070 | 31,915 | 29,887 | 30,313 | 31,198 | 32,309 | 31,457 | 29,940 |
| Expenses | 26,211 | 26,922 | 24,228 | 24,320 | 25,665 | 28,822 | 27,321 | 24,780 |
| Operating profit | 5,859 | 4,993 | 5,658 | 5,992 | 5,534 | 3,488 | 4,135 | 5,160 |
| Operating margin | 18.3% | 15.6% | 18.9% | 19.8% | 17.7% | 10.8% | 13.1% | 17.2% |
| Other income | -3 | -351 | -116 | 9,760 | 61 | -202 | -309 | 503 |
| Interest | 1,037 | 1,069 | 1,050 | 1,105 | 1,128 | 1,126 | 1,094 | 1,052 |
| Profit before tax | 4,819 | 3,574 | 4,492 | 14,647 | 4,468 | 2,159 | 2,733 | 4,612 |
| Tax rate | 25.8% | −31.1% | 26.6% | 24.6% | 27.3% | 4.1% | 25.8% | 25.9% |
| Net profit | 3,629 | 4,777 | 3,375 | 11,123 | 3,332 | 2,168 | 2,174 | 3,526 |
| EPS ($ per share) | 0.94 | — | 0.90 | 2.99 | 0.91 | — | 0.60 | 0.99 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Equity capital | 54 | 54 | — | — | — | — | — | — |
| Reserves | 41,983 | 50,695 | 56,438 | 61,902 | 51,609 | 52,892 | 56,972 | 66,675 |
| Total liabilities | 179,182 | 179,540 | 182,131 | 178,415 | 175,648 | 181,585 | 180,173 | 175,480 |
| Fixed assets | 44,437 | 48,322 | 51,995 | 54,047 | 55,485 | 59,686 | 62,548 | 65,680 |
| Investments | 94 | 1,709 | 292 | 368 | 402 | 310 | 21 | 14 |
| Total assets | 251,684 | 263,414 | 273,869 | 275,905 | 257,275 | 264,811 | 266,211 | 272,631 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | 24,297 | 25,697 | 24,737 | 29,146 | 26,413 | 28,501 | 27,673 | 33,643 |
| Cash from investing | -50,854 | -14,841 | -12,047 | -13,446 | -14,140 | -7,161 | -15,670 | -16,157 |
| Cash from financing | 27,140 | -9,181 | -6,513 | -18,618 | -16,184 | -19,850 | -10,883 | -14,346 |
| Net cash flow | 338 | 1,680 | 6,179 | -2,989 | -3,997 | 1,500 | 1,095 | 3,182 |
| Capital expenditure | -9,774 | -9,953 | -9,179 | -9,174 | -10,626 | -12,242 | -12,181 | -11,750 |
| Free cash flow | 14,523 | 15,744 | 15,558 | 19,972 | 15,787 | 16,259 | 15,492 | 21,893 |
CMCSA revenue by segment
| Segment | Q3 FY2024 | Q4 FY2024 | Q1 FY2025 | Q2 FY2025 | Q3 FY2025 | Q4 FY2025 | Q1 FY2026 | Q2 FY2026 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|---|---|
| Residential Connectivity and Platforms | 56% | 56% | 59% | 59% | 56% | 55% | 55% | 57% | -3.9% |
| Media | 26% | 23% | 22% | 21% | 21% | 24% | 23% | 19% | -11.6% |
| Studios | 9% | 10% | 9% | 8% | 10% | 9% | 11% | 10% | +25.0% |
| Business Services Connectivity | 8% | 8% | 8% | 8% | 8% | 8% | 8% | 9% | +3.7% |
| Theme Parks | 7% | 7% | 6% | 8% | 9% | 9% | 7% | 8% | +2.7% |
Share of consolidated revenue by quarter. Q4 is the fiscal year less its first three quarters.
See how segments are shifting across companies → Segment Shift
CMCSA operating KPIs by quarter
| KPI | Mar 2025 Q1 FY25 | Dec 2025 Q4 FY25 | Mar 2026 Q1 FY26 | Jun 2026 Q2 FY26 | Change vs prior quarter |
|---|---|---|---|---|---|
| Paid subscriber net additions Broadband | -199KThis contributed to the loss of 199,000 customers in the quarter, while broadband ARPU grew 3.3%, leading to growth in broadband revenue of 1.7%.Source: earnings call transcript | -181KSubscriber losses were 181,000 as the early traction we're seeing from our new initiatives was more than offset by continued competitive intensity.Source: earnings call transcript | -65KBroadband subscriber losses improved by 117,000 year-over-year to 65,000.Source: earnings call transcript | — | +64.1% |
| Paid subscriber net additions Wireless | 323KWe accelerated wireless net line additions to 323,000 in the quarter, both an improvement year-over-year and sequentially, bringing our total wireless lines to 8.1 million.Source: earnings call transcript | 364KWe added 364,000 wireless lines and similar to last quarter, nearly half of our residential postpaid connects came from customers taking a free line.Source: earnings call transcript | 435KWe added 435,000 net wireless lines, our strongest quarter on record with nearly half of our residential postpaid phone connects coming from customers taking a free line.Source: earnings call transcript | — | +19.5% |
| Paid subscribers Peacock | 41MWe ended the quarter at 41 million paid subscribers with net additions in the quarter, driven by the entitlements from the Charter bundle we introduced at the end of the quarter.Source: earnings call transcript | 44MPeacock revenue grew more than 20% to a record $1.6 billion, supported by strong distribution revenue growth of over 30% as paid subscribers increased 8 million year-over-year and 3 million sequentially, reaching 44 million as of December 31st.Source: earnings call transcript | — | 48MPeacock added another 2 million paid subscribers in this quarter, bringing us to 48 million paid subscribers and had its biggest viewership month ever in June, fueled by the World Cup and Love Island.Source: earnings call transcript | — |
| Paid subscriber net additions Peacock | — | 3MPeacock revenue grew more than 20% to a record $1.6 billion, supported by strong distribution revenue growth of over 30% as paid subscribers increased 8 million year-over-year and 3 million sequentially, reaching 44 million as of December 31st.Source: earnings call transcript | 2MWe added 2 million net new subscribers in the quarter with revenue up more than 70%, putting Peacock on track to approach profitability for the first time next quarter.Source: earnings call transcript | 2MIn just 6 years, we've built Peacock into a streaming business with real scale in the US We've added 2 million paid subscribers in each of the last 2 quarters, had our biggest viewership month ever in June and reach profitability, all anchored by what NBCUniversal does best: premium entertainment, live sports, news and extraordinary storytelling.Source: earnings call transcript | 0% |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Insider filings
89 filings between Nov 3, 2025 and Sep 30, 2026.
Open market
decisions to buy or sellPurchases
None
No insider bought shares.
Sales
$2.28M
3 sales by 3 insiders
Compensation
not trading decisions- 29
- Award — granted as compensation
- 23
- Option exercise — converted options into shares
- 23
- Tax withheld — shares kept back by the company to cover tax
Also filed: 9 gifts, 2 other filings.
Who traded
open market only| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| Cavanagh Michael J | — | $1.89M | Feb 11, 2026 |
| NAKAHARA ASUKA | — | $245.8K | Feb 3, 2026 |
| Armstrong Jason | — | $142.6K | Mar 5, 2026 |
Latest filings (50)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Sep 30, 2026 | Brady Louise F. Director | Award | 1,552 | $0 |
| Sep 30, 2026 | Smith Gordon Director | Award | 1,552 | $0 |
| Sep 30, 2026 | Honickman Jeffrey A Director | Award | 2,011 | $0 |
| Sep 30, 2026 | Baltimore Thomas J Jr Director | Award | 1,552 | $0 |
| Sep 30, 2026 | BREEN EDWARD D Director | Award | 920 | $0 |
| Sep 2, 2026 | ROBERTS BRIAN L Chairman of Board & Co-CEO | Gift | 101,900 | $0 |
| Aug 17, 2026 | BREEN EDWARD D Director | Gift | 62,440 | $0 |
| Aug 5, 2026 | ROBERTS BRIAN L Chairman of Board & Co-CEO | Gift | 204,100 | $0 |
| Jun 30, 2026 | Smith Gordon Director | Award | 1,375 | $0 |
| Jun 30, 2026 | Honickman Jeffrey A Director | Award | 1,783 | $0 |
| Jun 30, 2026 | Brady Louise F. Director | Award | 1,375 | $0 |
| Jun 30, 2026 | Baltimore Thomas J Jr Director | Award | 1,375 | $0 |
| Jun 30, 2026 | BREEN EDWARD D Director | Award | 815 | $0 |
| May 19, 2026 | ROBERTS BRIAN L Chairman of Board & Co-CEO | Gift | 202,500 | $0 |
| May 11, 2026 | BREEN EDWARD D Director | Gift | 32,440 | $0 |
| Apr 3, 2026 | Murdock Daniel C. EVP & Chief Accounting Officer | Option exercise | 5,268 | $0 |
| Apr 3, 2026 | Murdock Daniel C. EVP & Chief Accounting Officer | Tax withheld | 2,073 | $57.9K |
| Mar 31, 2026 | Baltimore Thomas J Jr Director | Award | 1,176 | $0 |
| Mar 31, 2026 | Smith Gordon Director | Award | 1,176 | $0 |
| Mar 31, 2026 | Honickman Jeffrey A Director | Award | 1,524 | $0 |
| Mar 31, 2026 | Brady Louise F. Director | Award | 1,176 | $0 |
| Mar 31, 2026 | BREEN EDWARD D Director | Award | 697 | $0 |
| Mar 17, 2026 | BREEN EDWARD D Director | Gift | 30,000 | $0 |
| Mar 17, 2026 | Khoury Jennifer Chief Communications Officer | Option exercise | 10,867 | $308.4K |
| Mar 17, 2026 | Khoury Jennifer Chief Communications Officer | Tax withheld | 10,514 | $316.3K |
| Mar 5, 2026 | Armstrong Jason CFO | Option exercise | 73,497 | $2.09M |
| Mar 5, 2026 | Armstrong Jason CFO | Sale | 4,494 | $142.6K |
| Mar 5, 2026 | Armstrong Jason CFO | Tax withheld | 69,003 | $2.19M |
| Mar 1, 2026 | Murdock Daniel C. EVP & Chief Accounting Officer | Tax withheld | 944 | $29.2K |
| Mar 1, 2026 | Murdock Daniel C. EVP & Chief Accounting Officer | Tax withheld | 771 | $23.9K |
| Mar 1, 2026 | Murdock Daniel C. EVP & Chief Accounting Officer | Tax withheld | 553 | $17.1K |
| Mar 1, 2026 | Murdock Daniel C. EVP & Chief Accounting Officer | Option exercise | 2,270 | $0 |
| Mar 1, 2026 | Murdock Daniel C. EVP & Chief Accounting Officer | Option exercise | 3,163 | $0 |
| Mar 1, 2026 | Murdock Daniel C. EVP & Chief Accounting Officer | Option exercise | 3,875 | $0 |
| Mar 1, 2026 | Murdock Daniel C. EVP & Chief Accounting Officer | Option exercise | 4,060 | $0 |
| Mar 1, 2026 | ROBERTS BRIAN L Chairman of Board & Co-CEO | Tax withheld | 45,578 | $1.41M |
| Mar 1, 2026 | Reid Thomas J. Chief Legal Officer, Secretary | Tax withheld | 48,665 | $1.51M |
| Mar 1, 2026 | Reid Thomas J. Chief Legal Officer, Secretary | Option exercise | 93,142 | $0 |
| Mar 1, 2026 | Cavanagh Michael J Co-CEO | Tax withheld | 34,980 | $1.08M |
| Mar 1, 2026 | Cavanagh Michael J Co-CEO | Option exercise | 34,980 | $0 |
| Mar 1, 2026 | Khoury Jennifer Chief Communications Officer | Tax withheld | 2,873 | $88.9K |
| Mar 1, 2026 | Khoury Jennifer Chief Communications Officer | Tax withheld | 1,967 | $60.9K |
| Mar 1, 2026 | Khoury Jennifer Chief Communications Officer | Tax withheld | 1,260 | $39.0K |
| Mar 1, 2026 | Khoury Jennifer Chief Communications Officer | Option exercise | 2,724 | $0 |
| Mar 1, 2026 | Khoury Jennifer Chief Communications Officer | Option exercise | 2,873 | $0 |
| Mar 1, 2026 | ROBERTS BRIAN L Chairman of Board & Co-CEO | Option exercise | 45,578 | $0 |
| Mar 1, 2026 | Khoury Jennifer Chief Communications Officer | Option exercise | 4,254 | $0 |
| Mar 1, 2026 | Armstrong Jason CFO | Tax withheld | 43,060 | $1.33M |
| Mar 1, 2026 | Armstrong Jason CFO | Tax withheld | 2,688 | $83.2K |
| Mar 1, 2026 | Armstrong Jason CFO | Tax withheld | 2,099 | $65.0K |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
Your own record
Start an Inve Case for COMCAST CORP
Free account. Everything above stays public.
Write why you follow COMCAST CORP and the condition you want checked. Inve compares your numeric conditions with available results and management guidance; your own conditions remain yours to review.
Keep reading
Other companies in Communication Services
Nearest to Comcast by market cap among the sector's top 20 companies at Q2 2026.