Comcast (CMCSA) Earnings Dates, Call Summary & Reports

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Earnings Data

Report Date

Apr 23, 2026

Before Open (Confirmed)

Period Ending

2026 (Q1)

Consensus EPS Forecast

0.83

Last Year’s EPS

1.02

Same Quarter Last Year

Analyst Consensus

Hold

Based on 21 Analysts Ratings

Earnings Call Summary

Q4 2025

Earnings Call Date:Jan 29, 2026|

% Change Since:

Earnings Call Sentiment|Positive

The call highlighted substantial strategic progress across multiple growth engines — record free cash flow (helped by a one-time tax benefit), strong wireless net additions and penetration, meaningful parks and Peacock momentum, and measurable benefits from network modernization — while also acknowledging near-term headwinds: a significant quarterly EBITDA and EPS decline, broadband subscriber losses and ARPU pressure tied to a major pricing and packaging transition, upfront sports-related EBITDA dilution at Peacock, and intensified competitive dynamics. Management framed the negatives as deliberate investments to position the company for durable long-term growth and expects performance to improve as investments are lapped and free wireless lines convert to paid relationships.

Company Guidance

Management guided that 2026 will be the largest broadband investment year in Comcast’s history, targeting migration of the majority of residential broadband customers to simplified, market‑based pricing and four nationwide speed tiers (all‑in pricing, five‑year price guarantee) by year‑end; they warned of further broadband ARPU pressure and incremental Connectivity & Platforms EBITDA pressure over the next couple of quarters (context: Q4 broadband ARPU +1.1% and Q4 net broadband losses of 181,000) but expect improvement in the back half as those investments lap. On wireless, they expect a meaningful portion of customers currently on free lines to convert to paid relationships in H2 2026, which should boost convergence revenue (company ended 2025 with >9.0M total lines, ~15% penetration of the residential base, and ~1.5M net lines added in 2025). Peacock should continue meaningful EBITDA improvement toward breakeven in 2026 (44M paid subs, Q4 Peacock revenue $1.6B, Q4 loss $552M, full‑year loss improvement ≈$700M), while parks and studios ramp content and Epic Universe contributes through the full year. Financials: 2025 free cash flow was $19.2B (including a ~$2B one‑time tax benefit), 2026 tax benefits are expected to be significantly lower; total capital spending is expected to be roughly similar to 2025 (~$14.4B total, including ~$10.5B at Connectivity & Platforms and ~$3.6B at Content & Experiences), net leverage ended 2025 at 2.3x (to rise slightly after the Versant spin with an intent to return to 2.3x), the dividend is maintained at $1.32/share, and capital returns will continue (nearly $12B returned in 2025, including ~ $7B repurchases).

Record Free Cash Flow

Full-year free cash flow of $19.2 billion, the highest year on record, driven by lower cash taxes, favorable working capital, and lower capital spending.

Strong Wireless Net Adds and Penetration

Wireless saw its strongest year with ~1,500,000 net lines added in 2025, ending with >9,000,000 total lines and ~15% penetration of the residential broadband base; Q4 net adds of 364,000 lines with meaningful uptake of premium unlimited plans.

Theme Parks Momentum

Theme parks revenue grew ~22% in the quarter and EBITDA grew ~24%, with parks EBITDA crossing $1 billion in the quarter for the first time; Epic Universe is driving longer stays, higher per-cap spending and increased hotel ADR (hotel ADR up ~20% in Orlando).

Peacock Scale and Subscriber Growth

Peacock revenue grew >20% to a record $1.6 billion; paid subscribers increased by ~8,000,000 year-over-year and 3,000,000 sequentially to reach 44,000,000; advertising revenue at Peacock grew nearly 20%.

Network Modernization Progress with Measurable Benefits

Roughly 60% of network footprint transitioned to mid-split spectrum and virtualized architecture; deployments (FDX + automation/AI) delivered a ~20% reduction in trouble calls and ~35% reduction in repair minutes where deployed.

Gig Plus Adoption and Product Simplification

Approximately 40% of the broadband base on gig-plus tiers; simplified nationwide pricing to four speed tiers with all-in pricing and a five-year price guarantee showing strong adoption and early reductions in voluntary churn and improving NPS.

Capital Allocation and Shareholder Returns

Returned nearly $12 billion to shareholders in 2025 (including ~ $7 billion in share repurchases); Q4 returned $2.7 billion including $1.5 billion in repurchases; maintained dividend at $1.32 per share and distributed Versant shares to shareholders.

Business Services & Enterprise Momentum

Comcast Business revenue increased ~6% and EBITDA grew ~3% in the quarter, with strong momentum at enterprise solutions and growth in advanced services and Comcast Business Mobile.

Comcast (CMCSA) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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CMCSA Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Apr 23, 2026	2026 (Q1)	0.83 / -	1.021	―	―	―
Jan 29, 2026	2025 (Q4)	0.73 / 0.84	0.899	-6.56% (-0.06)
Oct 30, 2025	2025 (Q3)	1.03 / 1.05	1.049	0.00% (0.00)
Jul 31, 2025	2025 (Q2)	1.09 / 1.17	1.134	3.26% (+0.04)
Apr 24, 2025	2025 (Q1)	0.93 / 1.02	0.974	4.83% (+0.05)
Jan 30, 2025	2024 (Q4)	0.81 / 0.90	0.787	14.23% (+0.11)
Oct 31, 2024	2024 (Q3)	1.00 / 1.05	1.012	3.66% (+0.04)
Jul 23, 2024	2024 (Q2)	1.05 / 1.13	1.059	7.08% (+0.07)
Apr 25, 2024	2024 (Q1)	0.93 / 0.97	0.862	12.99% (+0.11)
Jan 25, 2024	2023 (Q4)	0.74 / 0.79	0.768	2.47% (+0.02)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

CMCSA Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Jan 29, 2026	$28.41	$29.24	+2.92%
Oct 30, 2025	$26.42	$25.30	-4.24%
Jul 31, 2025	$29.78	$30.45	+2.25%
Apr 24, 2025	$31.30	$30.13	-3.71%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.