Comcast Reports Better Than Expected Sales and Profit Despite Losing Internet and TV Customers.

Comcast reported better-than-expected sales and profit, with 226,000 fewer broadband subscribers lost than expected and 325,000 fewer pay-TV customers lost. Total revenue increased 2.1% to $30.3 billion, beating forecasts, and earnings per share rose 3.3% to $1.25. The media division saw a 9.3% increase in adjusted EBITDA, boosted by improving results at streaming site Peacock. Comcast is spinning off its cable channels into a new company.

Comcast Corporation reported solid financial results for the second quarter of 2025, despite significant losses in broadband and pay-TV subscribers. The Philadelphia-based media giant announced that it lost 226,000 domestic broadband subscribers and 325,000 pay-TV customers, both figures better than analysts' forecasts [1].

Total revenue at the company increased by 2.1% to $30.3 billion, surpassing forecasts for $29.8 billion. Earnings per share, excluding certain costs, rose by 3.3% to $1.25, beating expectations for $1.16. The shares gained about 4% in premarket trading after the results were announced [1].

The connectivity and platforms business, which includes broadband and video, produced revenue of $20.4 billion, largely unchanged from a year earlier. This segment benefited from promotions such as a 5-year internet price guarantee and a free Xfinity unlimited mobile line for one year. Comcast added 378,000 new wireless phone customers, a record quarter for the company [1].

The media division, which includes the NBC broadcast network, reported an increase of 9.3% in adjusted EBITDA to $1.48 billion, driven by improving results at its streaming site, Peacock. Peacock saw a 24% increase in subscribers year-over-year to 41 million, in line with estimates. The streaming service reported an adjusted loss before interest, tax, depreciation, and amortization of $101 million, compared to a deficit of $348 million a year ago [1].

Comcast is spinning off its cable channels into a new company, Versant Media Group Inc., to unshackle itself from the poor-performing networks and allow the new entity to pursue deals and acquisitions for growth. Theatrical releases like "How to Train Your Dragon" helped push revenue at the studios division up by 8% to $2.43 billion, better than analysts' estimates. However, adjusted EBITDA fell by 31% to $85 million [1].

The parks division reported a significant jump in revenue, with a 19% increase to $2.35 billion, after opening its new theme park, Epic Universe, in May. Adjusted EBITDA rose by 4.1% to $658 million, also ahead of forecasts [1].

The rise of 5G Home Internet, with its no-contract plans and competitive pricing often under $50 per month, poses a formidable challenge to Comcast. Telecom giants AT&T, Verizon, and T-Mobile collectively added 932,000 5G Home Internet subscribers in Q2 2025, capitalizing on the increasing consumer shift toward wireless broadband alternatives [2].

Comcast's broadband losses, which now total over 425,000 subscribers in 2025 when combined with Q1’s 199,000 cancellations, highlight the challenges facing traditional cable providers. The rapid expansion of 5G networks and fiber-optic services from companies like AT&T, alongside satellite options like Starlink, has eroded Comcast's once-dominant market share [2].

Brian L. Roberts, Chairman and Chief Executive Officer of Comcast Corporation, stated, "We delivered solid financial results in the second quarter, growing Adjusted EPS by 3% and generating $4.5 billion of free cash flow, while continuing to invest in our growth businesses and returning $2.9 billion to shareholders. Importantly, we’re pleased with the early progress we are seeing with our go-to-market pivot in residential broadband. In addition, our wireless business had its best quarter ever, adding 378,000 lines, further demonstrating our competitive advantage in convergence. And we continued to deliver strong performance in Business Services, where we grew revenue and Adjusted EBITDA by mid-single digits. In Content and Experiences, revenue grew 6% led by Theme Parks, with the successful opening of Epic Universe, which is having a positive impact on our overall Universal Orlando Resort. Peacock continues to differentiate itself with premium content and one of the most robust lineups of live sports among streaming platforms, and we’re excited to build on that leadership with the addition of NBA coverage this fall. With our strategic focus, world-class assets, and disciplined capital allocation, we are well-positioned for the future and confident in our path forward" [3].

References:
[1] https://www.bloomberg.com/news/articles/2025-07-31/comcast-loses-fewer-broadband-internet-customers-than-expected
[2] https://cordcuttersnews.com/comcast-lost-226000-internet-customers-325000-tv-customers-in-q2-2025-as-cord-cutting-2-0-accelerates-while-5g-home-internet-surges/
[3] https://www.hollywoodreporter.com/business/business-news/comcast-q2-2025-earnings-peacock-subscribers-versant-news-1236334135/