Comcast, led by Brian L. Roberts, reported its second-quarter 2025 earnings on Thursday morning.

NBCUniversals streaming platform Peacock ended the previous quarter with 41 million subscribers; quarterly losses were $215 million. It stayed flat at 41 million subs; Peacock lost $101 million from April to June. Peacocks Q2 2025 revenue was $1.2 billion.

In Q2 2024, Peacocks quarterly losses were $348 million; revenue was $1 billion.

Wall Street forecast earnings per share (EPS) of $1.18 on $29.8 billion in revenue. Comcast reported (adjusted) EPS of $1.25 on $30.3 billion in revenue. The Versant transaction cost Comcast $110 million in the quarter ended June 30, 2025.

We delivered solid financial results in the second quarter, growing Adjusted EPS by 3% and generating $4.5 billion of free cash flow, while continuing to invest in our growth businesses and returning $2.9 billion to shareholders, Roberts said in a statement. Importantly, were pleased with the early progress we are seeing with our go-to-market pivot in residential broadband. In addition, our wireless business had its best quarter ever, adding 378,000 lines, further demonstrating our competitive advantage in convergence. And we continued to deliver strong performance in Business Services, where we grew revenue and Adjusted EBITDA by mid-single digits. In Content and Experiences, revenue grew 6% led by Theme Parks, with the successful opening of Epic Universe, which is having a positive impact on our overall Universal Orlando Resort. Peacock continues to differentiate itself with premium content and one of the most robust lineups of live sports among streaming platforms, and were excited to build on that leadership with the addition of NBA coverage this fall. With our strategic focus, world-class assets, and disciplined capital allocation, we are well-positioned for the future and confident in our path forward.

Comcasts NBCUniversal is in the midst of a split. Peacock, the NBC broadcast network, the Bravo cable channel, and the studios will stay; the rest of the cable portfolio will form Versant with digital properties like Golf Now and Rotten Tomatoes.

Universal Pictures Jurassic World: Rebirth came out in theaters two days after the end of the quarter.

More to come.