Comcast Corporation announced its first-quarter results, revealing a revenue of $31.5 billion and adjusted earnings of 79 cents per share—exceeding Wall Street expectations of 73 cents per share on revenue of $30.35 billion, according to analyst estimates compiled by Yahoo Finance.
Shares of the media conglomerate surged over 7% in pre-market trading on Thursday following the announcement.
Peacock’s Revenue Milestone and Deepening Losses
Peacock, Comcast’s streaming service, surpassed $2 billion in revenue for the first time in a quarter. However, the platform’s losses widened to $432 million in Q1, up from a loss of $351 million in the same period last year.
The streamer also added 2 million paid subscribers, bringing its total to 46 million.
Comcast’s Media Unit and Parent Company Performance
The media division reported a loss of $436 million, a significant shift from a $107 million profit in Q1 2023. Revenue for the unit grew 60.8% to $7.3 billion.
On the parent company level, Comcast exceeded analyst expectations with revenue increasing 5.3% to $31.5 billion. Net profit, however, declined 35.6% to $2.2 billion, or 60 cents per share. Adjusted net income fell 30.7% to $2.9 billion, or 79 cents per share.
Impact of Spun-Off Cable Networks
These results reflect Comcast’s first quarter excluding its cable networks, which were spun off into Versant in January 2024. The divested portfolio included USA Network, CNBC, MSNBC, Oxygen, E!, SYFY, Golf Channel, as well as digital assets like Fandango, Rotten Tomatoes, GolfNow, and SportsEngine.
Related articles
Is Netflix Ruining the Art of Comedy Roasts? The Rise and Fall of Roast Specials
Before I dive into this story, allow me to quantify that I love comedian Jeff Ross and I appreciate that Netflix’s comedy arm has singlehandedly made...
Top 3 Prime Video Movies to Stream This Weekend
What’s the longest amount of time you’ve ever spent scrolling through a streamer trying to decide what you’re in the mood for? Personally, I’ve had to...
Paramount CTO Phil Wiser to Depart After Seven Years of Leadership
Paramount Chief Technology Officer Phil Wiser is leaving the company after seven years, the executive told employees Friday. “Writing this and sharing...
How a Merged HBO Max and Paramount+ Could Dominate Unscripted TV Streaming in 2026
When Paramount’s David Ellison outlined the vision for merging with Warner Bros. Discovery earlier this year, Wall Street immediately envisioned a pre...
TV Upfronts 2026: Celebrity-Heavy, AI-Driven, and Sports-Focused Presentations
Typically, upfronts week is an embarrassment of announcements as the biggest names in TV compete for advertiser attention. That wasn’t exactly the cas...
15 Cult Classics That Flopped at the Box Office Before Becoming Beloved
Not every classic movie was a success during its original theatrical run. But years later, many of those same movies found new life through VHS, DVD r...
Trump Rejects Claim He Enjoys Press Gaggles, Cites Media Bias in Fox News Interview
President Donald Trump shut down the notion he enjoys press gaggles, telling Fox News’ Sean Hannity his frequent meetings with journalists are meant t...
Euphoria Claims No. 1 Spot on Streaming Charts, Ending Netflix’s Reign with HBO Max Victory
The streaming landscape is wide and varied, with something for everyone. In the past few months, the Samba TV weekly Wrap Report streaming chart has i...