Comcast Corporation (NASDAQ:CMCSA) reported first-quarter results that surpassed analyst expectations, supported by strong advertising demand tied to the Milan Cortina Winter Olympics and Super Bowl LX.
The company posted adjusted earnings per share of $0.79, exceeding the consensus estimate of $0.72 by $0.07. Revenue came in at $31.46 billion, above forecasts of $30.37 billion and higher than the same period last year.
Major sporting events drive advertising strength
Comcast attributed the strong performance to what it described as “Legendary February,” which delivered record audience numbers across key sporting events.
Shares climbed around 5% following the release, as investors reacted positively to the earnings beat and operational momentum.
Connectivity segment shows steady progress
Connectivity revenue rose 1.6% to $11.6 billion, driven by gains in domestic wireless equipment, business services, and wireless offerings.
The company also reported improvements in its customer trends. Domestic residential broadband losses narrowed by 117,000 year-on-year to 65,000, while domestic wireless line additions reached a record 435,000, bringing the total to 9.7 million.
“2026 is an important year of execution, and we’re seeing tangible early signs our pivot is taking hold,” said co-CEOs Brian L. Roberts and Mike Cavanagh. “Broadband subscriber losses improved by more than 100,000 year-over-year, and we delivered record wireless line additions as customers respond to simpler, more transparent offers and a better end-to-end experience.”
Strong viewership and streaming growth
The Milan Cortina Olympics averaged 23.5 million viewers, marking the most-watched Winter Games since 2014, while Super Bowl LX drew an average of 125 million viewers, becoming the most-watched program in NBCUniversal’s history.
Streaming platform Peacock saw paid subscribers rise 12% year-on-year to 46 million, with revenue surging 71% to exceed $2 billion for the first time.
Cash flow and shareholder returns
Comcast generated $3.9 billion in free cash flow during the quarter and returned $2.5 billion to shareholders through $1.2 billion in dividends and $1.3 billion in share buybacks.