PHILADELPHIA, PA — Comcast Corporation (NASDAQ: CMCSA) posted solid financial results for the first quarter of 2025, driven by growth across multiple business segments. The company reported a 4.5% increase in adjusted earnings per share to $1.09 and generated $5.4 billion in free cash flow. Comcast also returned $3.2 billion to shareholders through share repurchases and dividends.
“Our connectivity businesses generated 4% revenue growth, fueling expansion in C&P EBITDA margins to 41.4%. We also achieved our highest wireless line additions in two years,” said Brian L. Roberts, Chairman and CEO of Comcast Corporation. “With our significant free cash flow generation, disciplined approach to capital allocation, and the strength of our diversified businesses, I am confident that we are well-positioned to capture future opportunities.”
Segment Performance
The company’s Connectivity & Platforms segment saw a 4.1% revenue uptick to $11.3 billion, bolstered by domestic broadband, wireless, and business services. Media adjusted EBITDA surged 21% to $1 billion, propelled by growth in Peacock, which recorded a 16% revenue increase. Studios saw a 22% rise in adjusted EBITDA, supported by strong interest in films like Wicked.
Comcast’s Theme Parks segment faced a slight revenue decline, largely due to lower attendance and pre-opening costs for the highly anticipated Epic Universe theme park in Orlando. Set to launch on May 22, 2025, the park will feature five immersive worlds and over 50 attractions. Roberts also highlighted plans for an upcoming theme park in the UK and the August 2025 debut of Universal Horror Unleashed in Las Vegas.
Strategic Growth
Capital expenditures for the quarter decreased 14.4% to $2.3 billion as Comcast neared the completion of its Orlando park. The first quarter marked continued expansion of the network, adding 275,000 new homes and businesses.
Looking ahead, Comcast is poised to leverage its diversified operations to drive long-term growth. With a focus on innovation and strategic investments, the company remains committed to enhancing value for shareholders while delivering world-class entertainment and connectivity solutions.
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