TLDR
- Comcast reported Q1 EPS of $0.79, beating the $0.73 estimate, with revenue of $31.46B vs. $30.42B expected
- Sports advertising from the Super Bowl and Milan Cortina Winter Olympics drove ad revenue growth
- Broadband subscriber losses narrowed to ~65,000, and mobile additions hit a record
- Citigroup raised its price target to $35.50 from $33.00, maintaining a Buy rating
- CMCSA traded down to $29.45 on Friday despite the earnings beat
Comcast (CMCSA) delivered a solid first quarter but still ended Friday’s session lower, dropping $2.19 to $29.45. The results beat on both the top and bottom line, yet the stock couldn’t hold gains.
Q1 adjusted EPS came in at $0.79, clearing the $0.73 consensus by $0.06. Revenue hit $31.46 billion, well above the $30.42 billion analysts had penciled in. That’s a 5.3% increase year-over-year.
The sports calendar did a lot of the heavy lifting. The Super Bowl LX and the Milan Cortina Winter Olympics drove a spike in ad sales, giving the Content segment a clear boost in the quarter.
Broadband losses — the metric Wall Street has been watching most closely — narrowed to around 65,000 net losses. That’s better than feared, and the company posted record wireless line additions on top of it.
Analysts Lift Targets After the Print
Several analysts moved their price targets higher following the results. Citigroup raised its target from $33.00 to $35.50 and kept a Buy rating, implying around 20.5% upside from Friday’s close. Evercore moved its target from $35.00 to $36.00 with an Outperform rating.
Morgan Stanley analyst Sean Diffley raised his target from $31.00 to $33.00 but kept an Equal Weight rating. He noted the “less-bad” broadband losses and strong wireless adds as positives, while flagging that broadband competition remains “intense.”
Royal Bank of Canada moved its target from $31.00 to $32.00 with a Sector Perform rating. The consensus across analysts sits at a Hold, with an average price target of $35.13. Nine analysts rate it a Buy, seventeen a Hold, and two a Sell.
The stock’s P/E ratio sits at around 5.49, which is low by most measures. The twelve-month range runs from $25.75 to $36.66.
Peacock and Wireless in Focus for the Rest of 2026
Management flagged two areas investors should watch through the back half of the year. First, Peacock is expected to approach profitability as early as next quarter. Second, Comcast plans to convert the majority of its free wireless lines to paid plans in the second half of 2026.
Xfinity Mobile also launched two new plans, Mobile Plus and Mobile Select, which are aimed at improving average revenue per user over time.
CEO Michael Cavanagh sold 57,947 shares at $32.66 on February 11th, reducing his stake by 8.52%. He still holds 622,336 shares. Institutional investors own 84.32% of the stock.
Analysts expect full-year EPS of $3.46 for 2026. The 50-day moving average stands at $29.81, while the 200-day sits at $29.11.
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