Comcast Q2 2026: adjusted EPS $1.04 beats, revenue slips 1.2%
Comcast's headline revenue fell 1.2% to $29.94 billion, but adjusted EPS of $1.04 beat the $0.9956 consensus and free cash flow rose to $4.60 billion. Read the quarter pro forma: after stripping out Versant and Sky Germany, revenue rose 4.7%. The tension is that broadband customers keep leaving while Studios and Peacock carry growth — a mixed picture that argues for patience rather than a victory lap.
1 · Expected vs. Actual
Free preview belowGAAP EPS of $0.99 fell 66.9% largely because last year's quarter carried a $9.4 billion gain from the Hulu sale. Adjusted EPS of $1.04 fell 16.7% year over year but still cleared the $0.9956 consensus by roughly 4.5%. The bridge from GAAP to adjusted is mostly $403 million of acquisition-related intangible amortization plus a $251 million investment gain.
Revenue of $29.94 billion was down 1.2% from $30.31 billion a year ago, with residential broadband, video and other revenue all shrinking. Management points to pro forma revenue of $29.57 billion, up 4.7% once Versant and Sky Germany are removed from both periods. Both numbers are honest; the gap between them is the story of this quarter.
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Figures on this page come from the company's original SEC filings. The analysis is generated automatically and checked against validation rules, but may still contain errors or omissions. Not investment advice. · Generated 2026-09-17
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