Key Takeaways
- Q1 earnings per share reached $0.79, surpassing the consensus estimate of $0.73, while revenue totaled $31.46B versus $30.42B anticipated
- Major sporting events including the Super Bowl and Milan Cortina Winter Olympics boosted advertising revenue significantly
- Net broadband customer losses improved to approximately 65,000, while mobile line additions reached an all-time high
- Citigroup increased its price target from $33.00 to $35.50 while reaffirming its Buy recommendation
- Shares closed at $29.45 on Friday, down despite exceeding quarterly expectations
Comcast (CMCSA) posted impressive first-quarter numbers but couldn’t sustain momentum, finishing Friday’s trading session down $2.19 at $29.45. While the cable and media giant exceeded expectations on both earnings and revenue, investors still took profits.
The company’s adjusted earnings per share for the quarter landed at $0.79, topping Wall Street’s $0.73 projection by six cents. Total revenue reached $31.46 billion, comfortably beating the $30.42 billion forecast. This represents a year-over-year growth rate of 5.3%.
Athletic programming played a significant role in the quarterly performance. Super Bowl LX alongside the Milan Cortina Winter Olympics generated substantial advertising income, providing meaningful support to the Content division throughout the period.
The broadband subscriber situation—a critical focus area for market observers—showed improvement with net losses narrowing to roughly 65,000. This figure came in better than many feared, while the company simultaneously achieved record-breaking wireless customer additions.
Wall Street Raises Price Projections Following Results
Multiple Wall Street firms adjusted their price expectations upward after reviewing the quarterly report. Citigroup elevated its target from $33.00 to $35.50 while maintaining its Buy recommendation, suggesting approximately 20.5% potential appreciation from Friday’s closing price. Evercore similarly increased its target from $35.00 to $36.00, accompanied by an Outperform rating.
Morgan Stanley’s Sean Diffley adjusted his price objective from $31.00 to $33.00 while maintaining an Equal Weight stance. He highlighted the improved broadband churn figures and robust wireless subscriber gains as encouraging signs, though he cautioned that competitive pressures in the broadband market remain “intense.”
Royal Bank of Canada lifted its target from $31.00 to $32.00 with a Sector Perform designation. The Street consensus currently stands at Hold, with an average target price of $35.13. The rating breakdown shows nine Buy recommendations, seventeen Hold ratings, and two Sell opinions.
The company’s current price-to-earnings ratio hovers around 5.49, representing a relatively modest valuation. Over the past year, shares have traded in a range spanning $25.75 to $36.66.
Peacock Profitability and Wireless Transition Key for 2026
Company leadership highlighted two strategic priorities for investors to monitor throughout the remainder of the year. Management indicated that Peacock streaming service could reach profitability as soon as the upcoming quarter. Additionally, Comcast intends to transition most of its promotional wireless customers to paid subscription plans during the second half of 2026.
The Xfinity Mobile division recently unveiled two fresh offerings, Mobile Plus and Mobile Select, designed to boost average revenue per customer going forward.
CEO Michael Cavanagh divested 57,947 shares at $32.66 per share on February 11th, decreasing his position by 8.52%. His remaining holdings total 622,336 shares. Institutional stakeholders control 84.32% of outstanding shares.
Wall Street projects full-year earnings per share of $3.46 for 2026. The stock’s 50-day moving average currently sits at $29.81, while the 200-day moving average rests at $29.11.
