Summary
Comcast Corporation reported a significant decrease in net income attributable to Comcast Corporation for the first quarter of 2026 compared to the prior year, primarily driven by a substantial increase in programming and production costs and a notable decline in operating income. While consolidated revenue saw a modest increase of 5.3%, driven by growth in the Content & Experiences business, higher operating expenses outpaced revenue growth, leading to a 26.9% drop in operating income. The company also recorded a significant decrease in investment and other income. The separation of Versant Media Group in early 2026 had a notable impact, with its prior-year results included in the 2025 figures, affecting year-over-year comparisons. Despite these challenges, the company continues to manage its capital through debt repayment and share repurchases. The Connectivity & Platforms segment experienced a slight revenue decrease, with domestic broadband revenue declining due to lower average rates and customer numbers, though this was partially offset by growth in domestic wireless service and equipment revenue. The Media segment saw a substantial revenue increase, largely due to the broadcasting of major sporting events like the Milan Cortina Olympics and the Super Bowl, alongside growth in domestic advertising and distribution. However, significant increases in programming and production costs for this segment, also driven by these events and NBA rights, led to a negative Adjusted EBITDA. The Theme Parks segment showed strong revenue growth, benefiting from the opening of Epic Universe. The company's overall financial performance reflects a complex interplay of segment-specific dynamics, strategic divestitures, and large-scale event impacts.
Financial Highlights
50 data points| Revenue | $31.46B |
| Operating Expenses | $27.32B |
| Operating Income | $4.13B |
| Net Income | $2.17B |
| EPS (Basic) | $0.60 |
| EPS (Diluted) | $0.60 |
| Shares Outstanding (Basic) | 3.60B |
| Shares Outstanding (Diluted) | 3.62B |
Key Highlights
- 1Consolidated revenue increased by 5.3% to $31.5 billion, driven by the Content & Experiences business, though offset by the Versant separation and a decrease in Connectivity & Platforms.
- 2Net income attributable to Comcast Corporation decreased by 35.6% to $2.17 billion, with diluted EPS falling to $0.60 from $0.89 year-over-year.
- 3Operating income significantly declined by 26.9% to $4.14 billion, impacted by a substantial 29.3% increase in programming and production costs.
- 4The Media segment saw a 60.8% revenue surge, driven by major sporting events (Olympics, Super Bowl) and increased domestic advertising and distribution, but reported a negative Adjusted EBITDA of $(426) million.
- 5Connectivity & Platforms revenue saw a slight 1.0% decrease to $19.96 billion, with domestic broadband revenue declining 5.1% while domestic wireless service revenue grew 15.0%.
- 6Theme Parks revenue increased by 24.2% to $2.33 billion, benefiting from the recent opening of Epic Universe.
- 7Comcast repurchased $1.3 billion of its common stock in the first quarter of 2026 and paid $1.2 billion in dividends.