Comcast Corporation (NASDAQ;CMCSA) reported fourth-quarter 2025 results that largely exceeded analyst expectations, demonstrating the power of its diversified Content & Experiences segment.
For the quarter ended Dec. 31, the Philadelphia-based giant posted revenue of $32.31 billion, a 1.2% increase over the prior year.
While GAAP earnings per share were 60 cents, the company’s adjusted earnings per share reached 84 cents, comfortably beating the Zacks consensus estimate of 75 cents.
The quarterly narrative was dominated by the momentum at NBCUniversal.
The Peacock streaming platform added a record 5 million net new subscribers in the final three months of the year, driven by exclusive sports coverage and a high-demand holiday content slate.
Meanwhile, Universal Destinations & Experiences saw continued strength, fueled by the popularity of "Super Nintendo World" and heavy anticipation for the upcoming Epic Universe park in Orlando.
These gains helped offset a continued net loss in domestic broadband customers, as the company faces intensifying competition from fiber and fixed wireless providers.
Comcast also confirmed a significant milestone in its corporate evolution: the successful spin-off of Versant (formerly its cable network group), which officially began regular-way trading on the Nasdaq under the ticker "VSNT" on Jan. 5, 2026.
The move allows Comcast to focus its capital on "scarce" growth assets like Peacock and theme parks.
Bolstering shareholder returns, the company maintained its annualized dividend at $1.32 per share and signaled an aggressive 2026 buyback pace, continuing its trend of returning billions to investors.