Comcast reported revenue of $32.31 billion in the fourth quarter of 2025, marking a 1.2 percent increase compared to the previous year. For the full year, Comcast posted $123.70 billion in revenue, showing stable performance with no significant growth.
Comcast co-CEOs Brian L. Roberts and Mike Cavanagh highlighted that 2025 was the company’s best year ever in domestic wireless, with 1.5 million net line additions, bringing the total to more than 9 million lines. This milestone underscores the strength of Comcast’s converged connectivity strategy, combining broadband and mobile services.
Connectivity & Platforms Drive Revenue Growth
Revenue at Comcast’s Connectivity & Platforms segment rose 3.2 percent to $11.6 billion in Q4 and 4.2 percent to $46.0 billion for the full year. Growth was driven by domestic wireless, international connectivity, and business services connectivity.
Domestic Wireless: Achieved record performance with 1.5 million net line additions, totaling 9.3 million lines and surpassing 15 percent penetration of domestic residential broadband customers. Revenue increased 18 percent to $1.4 billion, fueled by customer line growth and device sales.
Domestic Broadband: Revenue declined 1.1 percent to $6.316 billion due to a drop in subscriber numbers.
Video Services: Revenue fell 5.6 percent to $6.356 billion amid a decline in video subscribers.
Business Services Connectivity: Revenue increased 5.8 percent to $2.59 billion, largely due to enterprise solutions and results from recent acquisitions.
New Go-to-Market Strategies Boost Customer Offers
Comcast launched its most significant broadband go-to-market shift in company history, introducing simplified internet plans with everyday pricing, all-inclusive features, and a 5-year price guarantee. New wireless offers include a free Xfinity Unlimited Mobile line for one year and a premium plan with gigabit speeds and enhanced features.
Content & Streaming Performance Highlights
Comcast’s content platforms also performed strongly:
NBC & Peacock Sports: The NBA launched across NBC and Peacock with the best season start in 24 years. Sunday Night Football remained primetime’s number one show for the 15th consecutive year, averaging 23.5 million viewers.
Peacock: Paid subscribers grew 22 percent year-over-year to 44 million, with revenue increasing 23 percent to $1.6 billion in Q4 and 10 percent to $5.4 billion for the full year.
Capital Expenditures
Comcast’s total capital expenditures decreased 4.2 percent to $3.749 billion in Q4, with Connectivity & Platforms spending rising 9.8 percent to $2.9 billion for network and infrastructure investments. Full-year Capex for Connectivity & Platforms increased 5.3 percent to $8.7 billion, while Content & Experiences’ spending fell 34 percent to $844 million, reflecting the opening of Epic Universe in May 2025. Overall, 2025 Capex totaled $11.75 billion, down from $12.18 billion in 2024.
Outlook
Comcast’s 2025 results highlight the company’s successful expansion in domestic wireless, steady broadband performance, and continued growth in streaming services. Strategic investments in connectivity, new market offerings, and premium content position Comcast to maintain its competitive edge in converged digital services.
BABURAJAN KIZHAKEDATH
