TLDR
- Comcast stock rose ~3.3% in premarket trading to $24.29 after beating Q2 earnings and revenue estimates
- EPS came in at $1.04 vs. the $0.96 analyst estimate; revenue was $29.94 billion vs. $29.25 billion expected
- The company lost 167,000 residential broadband customers, slightly above Wall Street’s forecast of 165,300
- Wireless growth hit a record, with 448,000 net new customer lines added in Q2, bringing total wireless lines to 10.2 million
- Peacock turned a quarterly profit for the first time, posting EBITDA of $189 million
Comcast (CMCSA) stock was up around 3.3% in premarket trading Thursday, touching $24.29, after the company posted Q2 results that cleared Wall Street’s bar on both the top and bottom lines.
EPS came in at $1.04, beating the analyst estimate of $0.96. Revenue fell 1.2% year-over-year to $29.94 billion, but still topped the consensus forecast of $29.25 billion.
Consolidated adjusted EBITDA was $8.9 billion for the quarter. Free cash flow came in at $4.6 billion.
COMCAST $CMCSA Q2’26 EARNINGS HIGHLIGHTS
🔹 Revenue: $29.94B (Est. $29.30B) 🟢; -1% YoY
🔹 Adj. EPS: $1.04 (Est. $0.97) 🟢; -17% YoY
🔹 Adj EBITDA: $8.9B; -13% YoY
🔹 Free Cash Flow: $4.6B; +2% YoY
🔸 Peacock achieved quarterly profitability for the first time everPeacock:
— Wall St Engine (@wallstengine) July 23, 2026
The broadband business remained the problem child. Comcast lost 167,000 residential broadband customers in Q2 — a touch worse than the 165,300 Wall Street had penciled in.
That said, the pace of losses improved slightly. Residential broadband net losses were 34,000 better year-over-year, a small but watched data point for investors tracking the trend.
Wireless Growth Hits a Record
If broadband is the headline worry, wireless was the headline win. Comcast added 448,000 wireless customer lines in Q2 — its best quarterly result ever.
Total wireless lines now stand at 10.2 million, with penetration at 7% of the total addressable wireless market within Comcast’s footprint.
Business Services Connectivity revenue rose 3.7% to $2.7 billion. EBITDA for that segment climbed 5% to $1.5 billion, with a margin of 56.7%.
Peacock Turns Its First Profit
Peacock hit a milestone in Q2, posting quarterly EBITDA of $189 million — its first-ever profitable quarter. That’s a $290 million improvement year-over-year.
Paid subscribers grew by 2 million net additions to reach 48 million total. The NBA Playoffs, FIFA World Cup, and Love Island USA were cited as key drivers.
The streaming unit’s turnaround comes as Comcast pushes ahead with plans to spin off NBCUniversal and Sky into a separate media company, a move expected to complete in roughly a year.
The spinoff announcement, made weeks before the earnings report, has drawn optimism from analysts. Deutsche Bank said in late June it sees around 30% upside over the next 12 months from the move.
Comcast’s stock has shed nearly 30% over the past year, making it one of the cheapest names in the S&P 500, pressured by competition from Verizon, AT&T, T-Mobile, and SpaceX’s Starlink.
The Q2 beat lands at a time when sentiment toward the stock has been quietly improving, with the spinoff narrative giving investors a clearer picture of what the core business is worth.
Analyst consensus heading into the print had expected EPS of 97 cents on revenue of about $29.3 billion — numbers Comcast cleared on both counts.
The S&P 500 futures were down 0.4% Thursday morning as oil price gains stoked inflation concerns, giving Comcast’s premarket move more context against a softer tape.
Comcast’s wireless penetration rate of 7% leaves a long runway for growth relative to its footprint, a point the company will likely emphasize going forward.
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