Stock Analysis on Net

Comcast Corp. (NASDAQ:CMCSA)

$24.99

Income Statement
Quarterly Data

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

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Comcast Corp., consolidated income statement (quarterly data)

US$ in millions

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3 months ended: Mar 31, 2026 Dec 31, 2025 Sep 30, 2025 Jun 30, 2025 Mar 31, 2025 Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021
Revenue
Programming and production
Gross profit
Marketing and promotion
Other operating and administrative
Depreciation
Amortization
Goodwill and long-lived asset impairments
Operating income (loss)
Interest expense
Investment and other income (loss), net
Income (loss) before income taxes
Income tax expense
Net income (loss)
Net loss attributable to noncontrolling interests
Net income (loss) attributable to Comcast Corporation

Based on: 10-Q (reporting date: 2026-03-31), 10-K (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31).


Revenue exhibits a pattern of stability with moderate fluctuations, generally oscillating between $29 billion and $32 billion per quarter. A gradual upward trend in gross profit is observable, moving from approximately $18 billion in early 2021 to peaks exceeding $22 billion in 2025, indicating an improvement in the management of programming and production costs relative to top-line growth.

Operating Performance and Impairments
Operating income remained consistent within the $4 billion to $6 billion range for the majority of the analyzed period. A significant anomaly is noted in the quarter ending September 30, 2022, where operating income shifted to a loss of $2.426 billion. This volatility was exclusively driven by a one-time goodwill and long-lived asset impairment charge of $8.583 billion.
Expense Trends
Marketing and promotion expenses remained relatively stable, typically fluctuating between $1.8 billion and $2.4 billion. However, other operating and administrative costs show a gradual upward trajectory, increasing from $8.269 billion in March 2021 to a peak of $11.9 billion in December 2025, which suggests rising overhead costs over time. Depreciation and amortization expenses have remained largely predictable, though amortization showed a slight increase in the 2024-2025 period.
Net Income Volatility and Non-Operating Items
Net income attributable to the corporation generally ranges between $2 billion and $4.7 billion. A substantial spike to $11.123 billion occurred in the quarter ending June 30, 2025, which directly corresponds to a surge in investment and other income of $9.76 billion. Following this peak, net income returned to a normalized range, ending at $2.174 billion in March 2026.
Taxation and Interest Obligations
Interest expenses have remained remarkably constant, consistently hovering around $1 billion per quarter. Income tax expenses exhibit higher volatility; notably, a tax benefit was recorded in the quarter ending December 31, 2024, while a significant tax expense of $3.603 billion was recorded in June 2025, reflecting the tax impact of the period's high non-operating gains.