Comcast Corp (NASDAQ: CMCSA) is a media and telecommunications company that operates cable broadband networks, a national wireless service, and a portfolio of content and entertainment businesses. It generates revenue through recurring subscription fees for broadband, video, voice, and wireless services under its Connectivity & Platforms segment, and through programming, advertising, and content licensing under its media operations. Total revenue was $123.7 billion in FY2025, essentially flat versus $123.7 billion in FY2024. The Connectivity & Platforms segment averaged $131.77 in monthly total revenue per customer relationship in FY2025. Operating income was $20.7 billion in FY2025, down from $23.3 billion in FY2024. The company carries significant interest expense, at $4.4 billion in FY2025, indicating a debt-heavy capital structure. Comcast repurchased $6.8 billion of shares across FY2025. Net income attributable to Comcast was $19.998 billion in FY2025, inflated by a $9.4 billion pre-tax gain from the sale of its interest in Hulu.

Revenue model

Recurring subscription fees from residential and business customers for broadband, video, voice, and wireless services. Advertising and content licensing revenue from media properties. Business services connectivity revenue from enterprise and SMB customers, including advanced enterprise solutions.

Products and services

Residential broadband internet, video (cable TV), wireline voice, and wireless (Xfinity Mobile) services. Business Services Connectivity including broadband for small and medium businesses and enterprise solutions. Content production and distribution through media and entertainment properties.

Customers and end markets

Residential households passed by the domestic cable network. Small and medium businesses and enterprise customers under Business Services Connectivity, with 124,000 additional Business Services Connectivity customer relationships added via the Nitel acquisition (effective April 1, 2025). Domestic wireless customers measured by lines, with one line per device across residential and business accounts.

Value-chain role

Vertically integrated operator: owns and operates physical broadband and cable network infrastructure, produces and distributes original content, and retails connectivity and media services directly to end customers. Relies on third-party vendors for hardware, software, satellite transponder capacity for European video, and third-party wireless networks for domestic and international wireless offerings.

Geographic exposure

Primarily United States for cable and wireless operations. International operations include video distribution in Europe supported by third-party satellite capacity, as referenced in the FY2025 10-K.

Source: SEC 10-K, filed 2026-02-03

Industry: Cable & Other Pay Television Services Peers: Optimum Communications Inc Cable One Inc Sirius XM Holdings Inc Charter Communications Inc DISH Network CORP Liberty Broadband Corp WideOpenWest, Inc.