Comcast $CMCSA rises 8% premarket as Q1 revenue beats at $31.46B

Comcast $CMCSA delivered an earnings beat with enough broadband improvement to move the stock. CNBC reported that shares climbed as much as 8% in premarket trading after first-quarter adjusted EPS of $0.79 topped the $0.73 LSEG estimate and revenue of $31.46B beat the $30.43B estimate. The company's Q1 release put consolidated adjusted EBITDA at $7.9B and free cash flow at $3.9B.

The key operating line was broadband. Comcast lost 65,000 broadband customers, a better trend than prior quarters, while mobile added 435,000 new lines. Total mobile customers reached 9.7M. Connectivity & Platforms revenue declined 2% to $17.32B, but the mobile additions gave investors evidence that the bundle is still offsetting part of the broadband drag.

Metric | Q1 2026 | Market context
Premarket stock reaction | As much as +8% | CNBC reported move
Adjusted EPS | $0.79 | LSEG expected $0.73
Revenue | $31.46B | LSEG expected $30.43B
Broadband net losses | 65,000 | Improved year over year
Mobile net additions | 435,000 lines | 9.7M total mobile customers

NBCUniversal supplied the upside through sports and streaming. Comcast said Media revenue rose 60.8% to $7.28B, helped by the Milan Cortina Olympics and Super Bowl LX. Excluding those events, Media revenue still rose 12.7%. Peacock paid subscribers increased 12% year over year to 46M, and Peacock revenue reached $2.1B, surpassing $2B for the first time.

The beat came with margin costs. Adjusted EBITDA fell 16.8% year over year, and Media adjusted EBITDA swung to a $426M loss as Olympics, Super Bowl, and NBA rights costs flowed through operating expenses. Studios revenue rose 21.2% to $3.426B, and Theme Parks revenue rose 24.2% to $2.331B, with Theme Parks adjusted EBITDA up 33.3% to $551M after Epic Universe opened in May 2025.

The next watch item is whether Comcast can keep broadband losses near 65,000 while sports-driven media revenue normalizes after the Olympics and Super Bowl quarter. Investors will also track whether Peacock's $2.1B revenue base can narrow losses without slowing subscriber growth.

Not investment advice. Verify all figures with primary sources before acting.