Comcast Stock Falls Over 5% in 2025 Despite Q1 Earnings Beat and $30B Revenue
In Q1 2025, Comcast surpassed revenue and profit expectations with strong mobile and Peacock subscriber growth, yet shares dropped due to continued losses in cable and broadband customers amid fierce industry competition.
Comcast Corporation delivered a mixed first-quarter 2024 performance, exceeding Wall Street's revenue and earnings estimates but facing ongoing challenges in its traditional cable and broadband segments.
Highlights from Comcast's Q1 2024 Earnings
- Revenue reached $30.06 billion, surpassing analyst forecasts of $29.87 billion.
- Net income stood at $3.86 billion, or $0.97 earnings per share, beating expectations of $3.63 billion and $0.91 EPS.
- Mobile services added 289,000 new wireless subscribers, while cable and broadband saw declines of 487,000 and 65,000 customers respectively.
Despite the positive earnings surprise fueled by robust gains in mobile and the streaming platform Peacock—which now boasts 34 million paid subscribers, up 55% year-over-year—Comcast's traditional cable and broadband businesses continue to experience subscriber losses, reflecting a broader industry shift.
Peacock generated over $1 billion in revenue for the second straight quarter but remains unprofitable, with an adjusted EBITDA loss of $639 million for the period.
CEO Brian Roberts emphasized the company's commitment to innovation and long-term growth, highlighting Peacock's rapid domestic expansion and strong user engagement.
Following the earnings announcement, Comcast's shares initially climbed in premarket trading but reversed sharply, falling more than 5% during regular trading hours on Thursday amid investor concerns over subscriber trends and heightened competition from Verizon, T-Mobile, and AT&T.
As the media and telecom landscape evolves, Comcast's ability to balance growth in emerging segments with declining legacy services will be critical to its stock performance moving forward.
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