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Comcast beat Wall Road expectations for its third quarter of 2025, regardless of income falling 8.2% yr over yr to $3.3 billion as the corporate continued to bleed broadband and pay TV prospects.
The media big misplaced 104,000 home broadband prospects throughout the interval – its fourth consecutive quarter of broadband losses – bringing its whole subscriber base to roughly 31.4 million. In the meantime, Comcast misplaced 257,000 video prospects for a complete of 11.5 million. Wi-fi was a shiny spot, including 414,000 prospects for a complete of 8.94 million.
Peacock continued to make enhancements in profitability, narrowing its quarterly loss to $217 million, in comparison with $436 million a yr in the past, however the streaming service’s development remained flat at 41 million paid subscribers and income got here in at $1.4 billion, down from $1.5 billion within the prior yr interval which included the Paris Olympics.
Listed here are the quarter’s outcomes:
Web revenue: $3.33 billion, down 8.2% yr over yr. On an adjusted foundation, internet revenue fell 4.9% to $4.13 billion.
Earnings per share: $0.90 cents per share. On an adjusted foundation, EPS got here in at $1.12 per share, in comparison with $1.10 per share anticipated by analysts surveyed Yahoo Finance.
Income: $31.2 billion, down 3.4% yr over yr, in comparison with $30.68 billion anticipated by analysts surveyed Yahoo Finance.
Peacock Subscribers: Remained flat at a complete of 41 million paid subscribers.
The Content material & Experiences division noticed income fall 6.8% yr over yr to $11.7 billion and its income fall 8.4% to $1.95 billion resulting from an unfavorable comparability from the Paris Olympics.
General media income fell 4.2% to $6.59 billion. Excluding the unfavorable comparability from the Olympics, it might’ve seen development of 4.2%. Home promoting income fell 41.3% to $1.96 billion, primarily reflecting the Paris Olympics within the prior yr interval. Excluding that impression, advert income would’ve elevated 2.6%.
Studios income grew 6.1% to $3 billion, primarily resulting from a 9.1% enhance in content material licensing income to $2.04 billion, whereas income tumbled 21.9% to $365 million, primarily pushed by greater programming, manufacturing and advertising and marketing and promotion bills because of elevated spending on upcoming theatrical releases. Theatrical income grew 4.6% to $639 million, resulting from greater income from an elevated variety of releases within the present quarter, together with “Jurassic World Rebirth.”
The newest quarterly outcomes come as Comcast is gearing as much as spin off its cable community portfolio into Versant by the top of the yr.
The standalone, publicly-traded firm will home CNBC, MSNBC, E!, SYFY, Oxygen, USA Community and Golf Channel, together with digital property similar to Fandango, Rotten Tomatoes, GolfNow and SportsEngine. Versant’s portfolio of networks reached between 54 million and 65 million households as of the top of 2024.
In a first glimpse at its financials forward of the spin off, Comcast disclosed that Versant’s income fell 16% to $670 million and income fell 6% to $3.42 billion within the first half of 2025. For the six-month interval, linear distribution income fell 5.6% to $2.1 billion, whereas promoting income fell 12.6% to $814 million. Platform and content material licensing income have been each shiny spots, climbing 7.4% to $398 million and 1.8% to $100 million.
The outcomes additionally come as Warner Bros. Discovery has launched a strategic assessment of options following “unsolicited curiosity” from “a number of events” for all or a part of the corporate. Comcast has been among the many firms which were floated as potential suitors.
Beginning in 2026, Comcast president Mike Cavanagh will function co-CEO alongside Brian Roberts, who beforehand stated he seems to be ahead to partnering with him for “years to come back.”
Extra to come back…
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