Quick Read – Netflix’s ad tier captured 60% of Q1 sign-ups while Comcast’s Peacock widened losses to $432 million despite reaching 46 million subscribers. – Netflix’s 48% return on equity and $12.5 billion free cash flow guide make its 24x forward P/E a fair price for…
mpounding scale. – Comcast’s broadband losses narrowed from 183,000 to 65,000, but cord-cutting and Peacock’s NBA rights costs keep its 5.56% yield a patience-only trade. – Netflix (NASDAQ:NFLX) and Comcast (NASDAQ:CMCSA) both reported first quarter results this spring with sharply divergent profiles. Netflix is a pure streaming machine collecting a $2.80 billion Warner Bros. breakup check
Comcast is a diversified operator juggling broadband erosion, Olympics costs, and a Peacock unit that keeps bleeding cash. Ad Tier Lifts Netflix. Olympics Squeezes Comcast.
Netflix pulled in $12.25 billion in Q1 revenue, up 16.2% year over year, with EPS of $1.23. The ad-supported tier drove over 60% of Q1 sign-ups in ads countries, and advertiser count grew 70% year over year to 4,000+ clients. Ad revenue is tracking to roughly $3 billion in 2026.