Net Income Hammered by Prior-Year Gain
Net income fell 68.3% to $3.53B from $11.12B, as the year-ago quarter benefited from a large non-operating gain that boosted net income well above operating income.
Source: 10-Q Income Statement (XBRL)
Computed from published fixed rules, not a model's judgement — though one input, the count of high-severity risks, comes from the AI analysis below.
Not investment advice and not a price target: it scores the quarter's fundamentals, not the stock. Full methodology →
AI Takeaway
Comcast's second quarter of fiscal 2026 was defined by a dramatic decline in net income, as the prior-year period included a large one-time gain that flattered results. Revenue declined marginally, with robust growth in media and studio segments nearly offsetting a continued pullback in residential connectivity. Operating income came under pressure as cost growth outpaced the modest top-line change, eroding margins. The company also faced tighter liquidity, evidenced by a drop in cash balances and a current ratio below one. The results underscore a portfolio in transition, with legacy wireline businesses weighing on an otherwise improving media and entertainment story.
Revenue
$29.94B
-1.23% YoY
EPS (Diluted)
$0.99
-66.78% YoY
Operating Income
$5.16B
-13.89% YoY
Source: SEC XBRL
Comcast (CMCSA) reported Q2 FY2026 revenue of $29.94B, down 1.2% year over year. Operating margin was 17.2%, down 2.6 points from 19.8% a year earlier. CMCSA's fiscal Q2 FY2026 corresponds to calendar Q2 2026.
Last 4 quarters: 3 beats
| Quarter | Actual EPS (USD) | Consensus (USD) | Result |
|---|---|---|---|
| Jun 2026This filing | 1.04 | 1.00 | Beat +4.5% |
| Mar 2026 | 0.79 | 0.75 | Beat +5.1% |
| Dec 2025 | 0.84 | 0.78 | Beat +8.1% |
| Sep 2025 | 1.12 | 1.13 | Miss -0.9% |
Adjusted (non-GAAP) EPS of $1.04 versus the $1.00 analyst consensus — a +4.5% beat for Jun 2026. Analyst consensus is quoted on the adjusted (non-GAAP) basis the street uses. GAAP diluted EPS for this quarter was $0.99.
5 reported segments · SEC XBRL
Segment revenue totals $30.94B; with -$1B of reconciling items (corporate, unallocated and eliminations) it ties to the $29.94B of consolidated revenue on the income statement.
Compiled by AI from this SEC filing
Net income fell 68.3% to $3.53B from $11.12B, as the year-ago quarter benefited from a large non-operating gain that boosted net income well above operating income.
Source: 10-Q Income Statement (XBRL)
Operating margin narrowed to 17.2% from 19.8% in the prior year, as costs grew faster than revenue, squeezing profitability.
Source: 10-Q Income Statement (XBRL)
Residential Connectivity & Platforms revenue declined 4.0%, offsetting double-digit growth in Media and Studios, resulting in a slight overall revenue decline.
Source: 10-Q Segment Revenue (XBRL)
Cash and equivalents fell 20.9% to $7.66B, while current liabilities rose 4.1%, leading to a current ratio below 1.0.
Source: 10-Q Balance Sheet (XBRL)
Share buybacks dropped 38.3% YTD to $2.51B, as the company scaled back capital returns amid lower cash generation.
Source: 10-Q Cash Flow Statement (XBRL)
Compiled by AI from this SEC filing · 2 high, 2 medium, 1 low
The largest segment, Residential Connectivity & Platforms, saw a 4.0% revenue decline, reflecting ongoing cord-cutting and competitive pressures. Sustained losses here could meaningfully impact overall financial performance.
Source: 10-Q Segment Revenue (XBRL)
Operating margin contracted significantly, from 19.8% to 17.2%, indicating that costs are growing faster than revenue. If this trend continues, it may erode profitability even if revenue stabilizes.
Source: 10-Q Income Statement (XBRL)
The current ratio fell to 0.80, with current liabilities exceeding current assets. While operating cash flow remains strong, a tighter cash position could constrain flexibility in the near term.
Source: 10-Q Balance Sheet (XBRL)
Media and Studios posted strong growth of 25.3% and 25.0%, respectively, offsetting residential weakness. Any slowdown in these segments could reverse the portfolio's stabilizing effect on overall revenue.
Source: 10-Q Segment Revenue (XBRL)
Share buybacks decreased 38.3% year-to-date, and cash reserves dropped 20.9%. This may signal limited capacity for future dividends or buybacks if cash flows do not improve.
Source: 10-Q Cash Flow Statement (XBRL)
| Metric | Current | Previous | YoY Change |
|---|---|---|---|
Revenue $B | 29.94 $B | 30.31 $B | -1.23% |
Operating Income $B | 5.16 $B | 5.99 $B | -13.89% |
Net Income $B | 3.53 $B | 11.12 $B | -68.30% |
EPS (Basic) $ | 0.99 $ | 2.99 $ | -66.89% |
EPS (Diluted) $ | 0.99 $ | 2.98 $ | -66.78% |
Answers draw on this SEC filing and the data on this page
Expected release date, analyst estimates & what to watch
Comcast reported Q1 2026 revenue of $31.5B (+5.3% YoY), but operating income fell sharply by 26.9% to $4.1B and net income dropped 35.6% to $2.2B, reflecting significant margin compression and cost pressures.
Comcast (CMCSA) delivered flat revenue of $123.7B in FY2025 while net income surged 23.5% to $20.0B and operating cash flow jumped 21.6% to $33.6B, though operating income declined 11.3% due to higher depreciation and amortization charges.
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