Filing Flows › Comcast (CMCSA) › Q1 2026
Comcast (CMCSA) Q1 2026 earnings results (first quarter 2026)
10-Q filed Apr 23, 2026
Comcast (CMCSA) reported revenue of $31.5B for the first quarter 2026 (Q1 2026), +5% from a year earlier and -3% from the quarter before. Operating margin was 13.1%, net earnings $2.2B (6.9% of revenue).
Comcast, Q1 2026: revenue $31.5B (+5% year over year), operating margin 13.1%, net earnings $2.2B, operating cash flow $6.9B. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $31.5B | -3% | +5% |
| Operating profit | $4.1B | +19% | -27% |
| Net earnings | $2.2B | +0.3% | -36% |
| Operating cash flow | $6.9B | -22% | -17% |
| Free cash flow | $3.9B | — | -28% |
What changed
Revenue was $31.5B in Q1 2026, up 5% year over year and down 3% from the previous quarter.
Operating profit was $4.1B, a 13.1% margin (down 5.8 points year over year). Operating profit fell $1.5B even though revenue rose $1.6B versus Q1 2025, so costs grew faster than sales. Total costs grew 13% against revenue growth of 5%. The fastest-growing cost line was Other operating costs (+14%). Net earnings were $2.2B, down 36% year over year ($2.0B including minority interests, which bore $0.15B of losses). The effective tax rate was 25.8%.
Operating cash flow was $6.9B (down 17% year over year), 340% of net income including minority interests. Non-cash charges added back $3.9B of depreciation and amortization and $0.43B of share-based compensation. Working capital and other items added $0.57B. After capital expenditures ($2.4B) and cash paid for capitalized software and other intangible assets ($0.64B), free cash flow as the company reports it was $3.9B.
Questions
What was Comcast's revenue in the first quarter 2026?
Comcast (CMCSA) reported revenue of $31.5B for the first quarter 2026 (Q1 2026), +5% from a year earlier and -3% from the quarter before.
Was Comcast profitable in the first quarter 2026?
Operating profit was $4.1B (13.1% of revenue) and net earnings $2.2B.
Source: Comcast 10-Q on SEC EDGAR.