Comcast beat Wall Street forecasts in the first quarter as the 2026 Winter Olympics and Super Bowl LX fueled record advertising gains while broadband customer exits narrowed year-over-year, writes for The Wall Street Journal.
Another bright spot was the Philadelphia company’s Peacock streaming service, which saw a surge in revenue after adding 5 million paid subscribers.
“Legendary February showcased the strength of our Media portfolio, leveraging the unmatched reach of the Milan Cortina Winter Olympics and the Super Bowl to drive record advertising and strong Peacock growth,” said Brian L. Roberts and Mike Cavanagh, co-CEOs of Comcast.
The same quarter saw a loss of 65,000 customers in the domestic broadband residential business, well below the 173,700 analysts had expected to exit. In addition the company said that the loss had narrowed year-over-year for the first time in five years, crediting its new go-to-market strategy. Domestic broadband revenue decreased 5.1 percent, to $6.34 billion.
Comcast also reported a 5.2 percent decline in video revenue to $6.26 billion, as viewers continue to move away from cable TV.
Meanwhile, Xfinity Mobile’s wireless business reported a 15 percent increase in domestic wireless service revenue, reaching $977 million.
Read more about Comcast’s first quarter revenue and subscriber losses in The Wall Street Journal.
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