Comcast Corporation (NASDAQ: CMCSA) has reported its fourth-quarter and full-year 2025 results, showcasing its performance over the period. The company's revenue for the fourth quarter of 2025 increased by 1.2% compared to the same period in 2024, reaching $32,310 million. For the full year, Comcast reported a revenue of $123,707 million, remaining relatively unchanged from the previous year.
Net income attributable to Comcast saw a significant decrease of 54.6% for the fourth quarter, amounting to $2,168 million. However, for the full year, net income showed a robust growth of 23.5%, reaching $19,998 million.
Adjusted net income for the fourth quarter decreased by 17.1% to $3,062 million, while for the full year, it also showed a decline of 5.7% to $15,972 million. Adjusted EBITDA for the fourth quarter amounted to $7,900 million, reflecting a 10.3% decrease from the previous year, while for the full year, adjusted EBITDA was reported at $37,384 million, representing a 1.8% decrease.
Earnings per share (EPS) for the fourth quarter saw a decline of 52.0% to $0.60, while for the full year, EPS grew by 30.1% to $5.39. Additionally, adjusted earnings per share (EPS) for the fourth quarter decreased by 12.4% to $0.84, and for the full year, adjusted EPS remained relatively stable at $4.31.
The company's net cash provided by operating activities increased by 9.4% for the fourth quarter, amounting to $8,841 million. Free cash flow for the same period showed a significant growth of 34.0%, reaching $4,369 million. For the full year, net cash provided by operating activities amounted to $33,643 million, reflecting a growth of 21.6%, while free cash flow saw a substantial increase of 53.4%, reaching $19,235 million.
Comcast's connectivity & platforms segment reported revenue of $20,237 million for the fourth quarter, representing a decrease of 1.1% compared to the previous year. The adjusted EBITDA for the segment amounted to $7,503 million, reflecting a 4.3% decrease. The segment's total customer relationships decreased by 181,000 to 50.8 million, driven by a decrease in domestic customer relationships.
In the residential connectivity & platforms segment, revenue decreased by 2.1% to $17,646 million, while adjusted EBITDA showed a decrease of 5.9%, amounting to $6,099 million. On the other hand, business services connectivity reported a revenue increase of 5.8% to $2,590 million, with adjusted EBITDA growing by 3.1% to $1,405 million.
The content & experiences segment posted total revenue of $12,736 million for the fourth quarter, reflecting a 5.4% increase compared to the previous year. However, adjusted EBITDA for the segment decreased by 32.6% to $1,005 million. The media revenue within the segment saw a 5.5% increase, reaching $7,620 million, while studios revenue decreased by 7.4% to $3,027 million. Theme parks revenue experienced a notable increase of 21.9%, amounting to $2,893 million.
Following these announcements, the company's shares moved -1.87%, and are now trading at a price of $27.82. If you want to know more, read the company's complete 8-K report here.
