Comcast, led by Brian L. Roberts, reported its second-quarter 2025 earnings on Thursday morning.
NBCUniversal’s streaming platform Peacock ended the previous quarter with 41 million subscribers; quarterly losses were $215 million. Well, for this quarter, subscribers stayed flat at 41 million, but Peacock once again narrowed to $101 million from April to June; Peacock’s Q2 2025 revenue was $1.2 billion.
In the (semi-)comparable Q2 of 2024, Peacock’s quarterly losses were $348 million; its revenue was $1 billion.
For this year’s second quarter, Wall Street had collectively forecast an earnings per share (EPS) of $1.18 on $29.8 billion in revenue. Comcast reported (adjusted) EPS of $1.25 on $30.3 billion in revenue, beating expectations at both its top and bottom lines. Comcast’s second quarter profit slipped slightly year over year from $4.74 billion to $4.65 billion.
The Versant transaction cost Comcast $110 million in the quarter ended June 30, 2025, the company reported.
“We delivered solid financial results in the second quarter, growing Adjusted EPS by 3% and generating $4.5 billion of free cash flow, while continuing to invest in our growth businesses and returning $2.9 billion to shareholders,” Roberts said in a statement. “Importantly, we’re pleased with the early progress we are seeing with our go-to-market pivot in residential broadband. In addition, our wireless business had its best quarter ever, adding 378,000 lines, further demonstrating our competitive advantage in convergence. And we continued to deliver strong performance in Business Services, where we grew revenue and Adjusted EBITDA by mid-single digits. In Content and Experiences, revenue grew 6% led by Theme Parks, with the successful opening of Epic Universe, which is having a positive impact on our overall Universal Orlando Resort. Peacock continues to differentiate itself with premium content and one of the most robust lineups of live sports among streaming platforms, and we’re excited to build on that leadership with the addition of NBA coverage this fall. With our strategic focus, world-class assets, and disciplined capital allocation, we are well-positioned for the future and confident in our path forward.”
Comcast’s NBCUniversal is in the midst of a split. Peacock, the NBC broadcast network, the Bravo cable channel, and the studios will stay; the rest of the cable portfolio will form Versant with digital properties like Golf Now and Rotten Tomatoes.
Universal Pictures’ Jurassic World: Rebirth came out in theaters two days after the end of the quarter. Its box office performance will be reflected in the company’s third-quarter earnings.
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