Comcast (CMCSA) Q2 FY2026 earnings: revenue $29.9 billion, down 1.2% on the year

Comcast Corp. (CMCSA) reported revenue of $29.9 billion for Q2 FY2026, the quarter ended 30 June 2026, down 1.2% on the same quarter a year earlier. Net income was $3.5 billion, down 68.3% on the year, and diluted earnings per share $0.99. The figures are the company's own, from the 10-Q it filed with the SEC on 23 July 2026.

Revenue

$29.9 billion

-1.2% on the year · -4.8% on the quarter

Q3 FY2024Q2 FY2026

Operating margin

17.2%

19.8% a year earlier

Q3 FY2024Q2 FY2026

Net income

$3.5 billion

-68.3% on the year · +62.2% on the quarter

Q3 FY2024Q2 FY2026

Diluted EPS

$0.99

-66.8% on the year · +65.0% on the quarter

Q3 FY2024Q2 FY2026

this quarterthe same quarter a year earlierHover a bar for its figure.

What management said

Revenue down, pro forma revenue up: Reported revenue was $29.9 billion, down 1.2%. Pro forma revenue, adjusted for the Versant separation and the Sky Germany sale, rose 4.7% to $29.6 billion.
Residential revenue and EBITDA fell: Residential Connectivity & Platforms revenue was $17.1 billion, down 4.0%. Adjusted EBITDA was $6.4 billion, down 8.0%, at a 37.7% margin. The company tied this to its new go-to-market strategy.
Wireless lines reached 10.2 million: Total wireless lines reached 10.2 million, with penetration at 7% of addressable lines in the footprint. Wireless service revenue rose 14.2% to $1.0 billion, and wireless equipment revenue rose 28.8%.

Read the earnings call summary

Income statement (profit and loss)

$ million	Q2 FY2026	Q1 FY2026	Q2 FY2025	On the quarter	On the year
Revenue	29,940	31,457	30,313	-4.8%	-1.2%
Operating income	5,160	4,135	5,992	+24.8%	-13.9%
Operating margin	17.2%	13.1%	19.8%
Interest expense	1,052	1,094	1,105	-3.8%	-4.8%
Pre-tax income	4,612	2,733	14,647	+68.8%	-68.5%
Income tax	1,194	706	3,603	+69.1%	-66.9%
Effective tax rate	25.9%	25.8%	24.6%
Net income	3,526	2,174	11,123	+62.2%	-68.3%
Net margin	11.8%	6.9%	36.7%
Diluted EPS	$0.99	$0.60	$2.98	+65.0%	-66.8%

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	Q2 FY2026	Q1 FY2026	Q2 FY2025	On the quarter	On the year
Operating cash flow	8,092	6,891	7,815	+17.4%	+3.5%
Capital expenditure	2,902	2,351	2,678	+23.4%	+8.4%
Free cash flow	5,190	4,540	5,137	+14.3%	+1.0%
Free cash flow margin	17.3%	14.4%	16.9%
Cash from investing	-3,572	-2,919	-4,945
Cash from financing	-6,305	-5,008	-1,806
Depreciation and amortisation	3,688	3,865	4,154	-4.6%	-11.2%
Share-based compensation	319	427	268	-25.3%	+19.0%
Buybacks	1,005	1,502	1,826	-33.1%	-45.0%
Dividends paid	1,184	1,248	1,238	-5.1%	-4.4%
Dividend per share	$0.33	$0.33	$0.33	0.0%	0.0%
Diluted shares, weighted	3,570m	3,617m	3,727m	-1.3%	-4.2%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q2 FY2026	Q1 FY2026	Q2 FY2025	On the quarter	On the year
Shareholders' equity	89,763	88,274	96,851	+1.7%	-7.3%
Non-controlling interest	7.0	61.0	376	-88.5%	-98.1%
Redeemable equity	185	205	231	-9.8%	-19.9%
Debt	90,381	94,612	101,528	-4.5%	-11.0%
Other liabilities	77,212	76,850	74,864	+0.5%	+3.1%
Total liabilities and equity	257,548	260,002	273,850	-0.9%	-6.0%
Fixed assets	66,127	65,472	64,025	+1.0%	+3.3%
Goodwill	53,070	53,374	61,812	-0.6%	-14.1%
Investments	7,845	7,468	8,490	+5.0%	-7.6%
Cash and equivalents	7,661	9,468	9,687	-19.1%	-20.9%
Receivables	13,955	14,078	13,040	-0.9%	+7.0%
Other assets	108,890	110,142	116,796	-1.1%	-6.8%
Total assets	257,548	260,002	273,850	-0.9%	-6.0%

Questions

What was Comcast's revenue in Q2 FY2026?

Comcast (CMCSA) reported revenue of $29.9 billion for Q2 FY2026, the quarter ended 30 June 2026, down 1.2% on the same quarter a year earlier.

How much did Comcast earn in Q2 FY2026?

Net income for Q2 FY2026 was $3.5 billion, down 68.3% on the year, and diluted earnings per share $0.99.

When did Comcast report Q2 FY2026 results?

Comcast filed its 10-Q for the quarter ended 30 June 2026 with the SEC on 23 July 2026.

Quarterly results, the last 20 quarters

	Q4 FY2021 *	Q1 FY2022	Q2 FY2022	Q3 FY2022	Q4 FY2022 *	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	30,336	31,010	30,016	29,849	30,552	29,691	30,513	30,115	31,253	30,058	29,688	32,070	31,915	29,887	30,313	31,198	32,309	31,457	29,940	29,298
Operating income	4,821	5,569	6,367	-2,425	4,530	5,646	6,709	6,475	4,484	5,810	6,635	5,859	4,993	5,658	5,992	5,534	3,488	4,135	5,160	5,320
Operating margin	16%	18%	21%	-8%	15%	19%	22%	22%	14%	19%	22%	18%	16%	19%	20%	18%	11%	13%	17%	18%
Interest expense	1,120	993	968	960	975	1,010	998	1,060	1,019	1,002	1,026	1,037	1,069	1,050	1,105	1,128	1,126	1,094	1,052	962
Pre-tax income	3,886	4,764	4,502	-3,652	3,670	5,243	5,726	5,465	4,044	5,105	5,175	4,819	3,574	4,492	14,647	4,468	2,159	2,733	4,612	4,446
Tax rate	23%	27%	28%	n/a	22%	28%	27%	27%	22%	26%	26%	26%	-31%	27%	25%	27%	4%	26%	26%	24%
Net income	3,057	3,549	3,396	-4,598	3,023	3,834	4,248	4,046	3,260	3,857	3,929	3,629	4,777	3,375	11,123	3,332	2,168	2,174	3,526	3,448
Net margin	10%	11%	11%	-15%	10%	13%	14%	13%	10%	13%	13%	11%	15%	11%	37%	11%	7%	7%	12%	12%
Diluted EPS	$0.67	$0.78	$0.76	-$1.05	$0.70	$0.91	$1.02	$0.98	$0.81	$0.97	$1.00	$0.94	$1.24	$0.89	$2.98	$0.90	$0.60	$0.60	$0.99	$0.97
Operating cash flow	7,689	7,257	6,327	6,946	5,883	7,228	7,198	8,153	5,922	7,848	4,724	7,021	8,080	8,294	7,815	8,693	8,841	6,891	8,092	7,903
Capital expenditure	3,029	1,856	2,414	2,791	3,565	2,664	2,963	3,295	3,320	2,630	2,724	2,913	3,914	2,252	2,678	3,071	3,749	2,351	2,902	3,058
Free cash flow	4,660	5,401	3,913	4,155	2,318	4,564	4,235	4,858	2,602	5,218	2,000	4,108	4,166	6,042	5,137	5,622	5,092	4,540	5,190	4,845
Buybacks	2,055	3,223	3,065	3,525	3,515	2,176	2,051	3,543	3,521	2,664	2,266	1,990	2,183	2,240	1,826	1,552	1,537	1,502	1,005	10.0
Dividends paid	1,145	1,166	1,211	1,194	1,170	1,174	1,213	1,199	1,180	1,193	1,225	1,206	1,190	1,224	1,238	1,223	1,209	1,248	1,184	1,174
Filing	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 30 June 2026, filed 23 July 2026: the filing.