Key Points

• Comcast Q2 revenue clocked in at $30.31 billion, up 2.1% compared to the same period in 2024.
• The company continued to see broadband subscribers flee for other services, but revenue attributed to Xfinity Internet grew on a year-over basis.
• Xfinity Mobile saw its best quarter on record, growing to serve more than 8.5 million wireless lines.
• Peacock subscriber count at 41 million.

Comcast saw its revenue increase during the second financial quarter (Q2) of the year, buoyed by healthy operations at its NBC Universal content division and steady performance in its pay television and broadband Internet businesses.

The Philadelphia-based media and technology company posted $30.31 billion in consolidated revenue, up 2.1 percent from $29.69 billion a year earlier. Net income attributable to Comcast surged to $11.12 billion, largely driven by a $9.4 billion gain from the sale of its stake in Hulu. Adjusted net income declined 1.7 percent to $4.65 billion, while adjusted earnings per share rose 3.3 percent to $1.25.

“We delivered solid financial results in the second quarter, growing adjusted EPS by 3 percent and generating $4.5 billion of free cash flow, while continuing to invest in our growth businesses and returning $2.9 billion to shareholders,” Brian Roberts, the Chairmn and CEO of Comcast, said in a statement that accompanied the company’s Q2 report. Roberts cited strong momentum in wireless, business services and the early impact of a “go-to-market pivot” in residential broadband.

On the connectivity side, Comcast continued to see broadband customer losses due to ongoing pressure from fixed-wireless products and up-and-comers like Starlink. Total broadband connections fell to 31.54 million, representing a loss of 226,000 Xfinity Internet accounts. Comcast’s remaining loyalty customers helped drive a 1.6 percent increase in revenue, with the company raking in $6.53 billion from its broadband business.

Comcast recently rolled out a new pricing structure for Xfinity Internet in a bid to win back residential Internet subscribers. The plans offer low prices with one-year or five-year price guarantees, coupled with leased equipment and no data cap. One line of Xfinity Mobile wireless service is included with most broadband plans for one year.

Comcast said its Xfinity Mobile business posted its best quarterly result on record after adding 378,000 new customer lines during Q1. Total lines served stood at 8.53 million by the end of the quarter, Comcast said. The company leases access from Verizon for its residential wireless service and will soon launch an enterprise-focused wireless product in partnership with T-Mobile.

Like its peers, Comcast continued to experience declines in its cable TV business, ending the quarter with 11.77 million Xfinity TV subscribers, reflecting a loss of 325,000 accounts.

Comcast’s Content & Experiences segment, which includes NBC Universal, reported $10.63 billion in revenue for the quarter, a 5.6 percent increase from $10.06 billion a year earlier. The growth was led by a robust performance in theme parks and international media networks, Comcast said.

Media revenue rose 1.8 percent to $6.44 billion, with international networks and Peacock offsetting declines in domestic advertising. Peacock generated $1.2 billion in revenue, up 18 percent year over year, while its EBITDA (earnings before interest, tax, depreciation and amortization) loss narrowed to $101 million from $348 million.

The company remains focused on spinning out most of its cable networks into a separate company called Versant, which will also include digital platforms like Fandango and Rotten Tomatoes. Versant is already hiring a number of key executives and other staffer with the goal of starting up its operations in the coming months. Comcast will continue to operate Bravo within the NBC Universal family.

Peacock continues to cost Comcast, with the streaming app generating $1.2 billion in revenue during Q2. Net loss attributed to Peacock was $101 million, Comcast said. The company said Peacock’s subscriber count remained steady at 41 million; its growth was inhibited by a lack of premium sports, though there was a high amount of interest in the new season of “Love Island USA,” which debuted during the quarter, Comcast affirmed.

Studios revenue climbed 8 percent to $2.43 billion, boosted by theatrical releases including “How to Train Your Dragon,” though adjusted EBITDA fell 31 percent to $85 million due to higher production and marketing costs.

Theme Parks revenue jumped 18.9 percent to $2.35 billion, reflecting the successful May launch of the Epic Universe park in Orlando. Adjusted EBITDA rose 4.1 percent to $658 million.