Comcast ad revenue drops 7% in Q1 2025, loses 199,000 broadband subscribers

Global media and technology firm Comcast witnessed a 12.5% drop in its net income in the first quarter of 2025 due to a significant drop in its cable business and ad revenue from NBCUniversal business.

The media giant's revenue fell to $29.89 billion in Q1 2025 compared to $30.06 billion in the corresponding quarter last fiscal.

The earnings, adjusted for costs tied to amortization and investment, stood at $1.09 per share.

Comcast is grappling with the migration of consumers away from traditional media platforms, such as linear TV and traditional cable to broadband and digital outlets.

The Philadelphia-based firm also reported a significant drop in broadband customers, hit by intense competition from wireless carriers.

The company lost 199,000 broadband customers and 427,000 cable TV customers in Q1 2025.

The revenue from operations, including NBCUniversal rose about 1% to $6.44 billion and US ad revenue dropped about 6.8% in the same period.

According to the company, the total advertising revenue was down 7% in media due to the volume and timing of sports content, along with tough political comparisons.

"While we have not yet seen any impacts from the current macroeconomic uncertainty, advertising is the category that has shown the most economic-related cyclicality in our business historically,' Comcast financial executive Jason Armstrong said.

Comcast CEO Mike Kavanaugh said the company will be focusing on six key growth areas: broadband, wireless, business services, theme parks, streaming, and premium content in the fiscal year 2025.