PHILADELPHIA, PA — Comcast Corporation (Nasdaq: CMCSA) recently reported first-quarter 2026 results for the period ended March 31, citing revenue growth alongside declines in net income and adjusted earnings.
Revenue increased 5.3% year over year, while net income attributable to Comcast declined 35.6% and adjusted earnings per share fell 27.5% to $0.79.
Adjusted EBITDA totaled $7.9 billion, and free cash flow reached $3.9 billion. The company returned $2.5 billion to shareholders through $1.2 billion in dividends and $1.3 billion in share repurchases.
Connectivity and Platforms revenue rose 1.6% to $11.6 billion, driven by growth in wireless services, business services, and international connectivity. Domestic broadband customer losses improved by 117,000 year over year to 65,000, while wireless line additions reached 435,000, bringing total wireless lines to 9.7 million.
Business services connectivity revenue increased 5.8% to $2.6 billion, with adjusted EBITDA of $1.5 billion and a margin of 55.9%.
Content and Experiences revenue increased, including $2.2 billion in incremental revenue tied to the Milan Cortina Winter Olympics and the Super Bowl. Media segment revenue rose due to higher advertising and distribution revenue, while adjusted EBITDA declined due to increased programming costs.
Peacock reported 46 million paid subscribers, a 12% increase year over year, with revenue growth of 71% surpassing $2 billion. The platform recorded an adjusted EBITDA loss of $432 million during the quarter.
Theme parks adjusted EBITDA increased 33% to $551 million, supported by the opening of Epic Universe in Orlando in May 2025.
Capital expenditures rose 4.4% to $2.4 billion, with increased spending in connectivity infrastructure partially offset by lower spending in content and experiences following recent project completions.
Operating cash flow totaled $6.9 billion for the quarter.
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