---
title: "Comcast: Business Model & Revenue Engine"
description: "Comcast revenue by business segment and geography from its fiscal 2025 Form 10-K, with each part's share, growth and profitability explained."
canonical: https://www.getswoopr.com/stocks/companies/comcast/business-model/
source: "Swoopr Investment: https://www.getswoopr.com"
---

# Comcast: Business Model & Revenue Engine



## Direct Answer

Comcast reports revenue across 5 business segments in its fiscal 2025 Form 10-K. Residential Connectivity and Platforms is the largest, with $70.7 billion of revenue (57% of the total), followed by Media at $27.1 billion (22%). 77% of revenue came from the United States.

## How Does Comcast Make Money?

No single line supplies a majority of revenue: the largest, Residential Connectivity and Platforms, is 57%, which spreads Comcast's exposure across several demand drivers. Between fiscal 2024 and 2025, Theme Parks grew fastest (+14.1%) and Media slowest (-3.8%), so the revenue mix tilts toward Theme Parks while that gap lasts.

| Segment | FY2025 revenue | FY2024 revenue | Share of revenue | Change |
| --- | --- | --- | --- | --- |
| Residential Connectivity and Platforms | $70.7 billion | $71.6 billion | 57.2% | -1.2% |
| Media | $27.1 billion | $28.1 billion | 21.9% | -3.8% |
| Studios | $11.3 billion | $11.1 billion | 9.1% | 1.7% |
| Business Services Connectivity | $10.2 billion | $9.7 billion | 8.3% | 5.5% |
| Theme Parks | $9.8 billion | $8.6 billion | 8.0% | 14.1% |

![Bar chart of Comcast revenue by segment for fiscal 2025: Residential Connectivity and Platforms 57.2%, Media 21.9%, Studios 9.1%, Business Services Connectivity 8.3%, Theme Parks 8.0%.](https://www.getswoopr.com/images/charts/comcast-business-model-segment-mix.webp)
*Comcast revenue by segment as a share of total revenue, from the table above. The largest is highlighted. Select the chart to open it full size.*

## Where Does Comcast's Revenue Come From?

Regions follow the definitions in the filing; most companies assign revenue by customer location.

| Region | FY2025 revenue | FY2024 revenue | Share of revenue | Change |
| --- | --- | --- | --- | --- |
| United States | $95.1 billion | $96.2 billion | 76.9% | -1.1% |
| United Kingdom | $15.2 billion | $14.2 billion | 12.3% | 7.0% |
| Other Geographic Locations | $13.4 billion | $13.3 billion | 10.8% | 0.6% |

## What the Segment Figures Do Not Show

The rows above add up to 104% of Comcast's reported revenue for fiscal 2025; the difference is intersegment eliminations, corporate revenue or items the company reports outside its segments. Segment definitions are management's choice and change when a company reorganizes, in which case it restates prior years in the next filing, so a multi-year comparison should use the figures from a single filing. Revenue shows where sales come from, not where profit or cash is earned: a small segment can carry most of the margin.

## Where These Numbers Come From

Every figure on this page is a value Comcast reported in the segment note and revenue disclosures of its Form 10-K filed February 3, 2026 (accession 0001628280-26-004994), read from the SEC's Financial Statement Data Sets. The prior-year column is the comparative figure from that same filing, so it reflects any restatement for a change in segments. Category names are the company's own XBRL labels, lightly reformatted for reading.

Rows that only total other rows (for example a "Products" line beside the individual products) are left out so nothing is counted twice. This page is educational and describes reported history for fiscal 2025; it is not a forecast or a recommendation.

## Frequently Asked Questions

### What are Comcast's business segments?

In its fiscal 2025 Form 10-K, Comcast reports revenue for Residential Connectivity and Platforms, Media, Studios, Business Services Connectivity and Theme Parks.

### Which part of Comcast brings in the most revenue?

Residential Connectivity and Platforms, with $70.7 billion of revenue in fiscal 2025, or 57% of the total.

### How much of Comcast's revenue comes from outside the United States?

23% in fiscal 2025, by the geographic breakdown Comcast reports in its Form 10-K. Companies assign revenue to regions differently (customer location, shipping address or selling entity), so check the filing's definition before comparing companies.

## References

- [SEC EDGAR: COMCAST CORP Form 10-K filed February 3, 2026](https://www.sec.gov/Archives/edgar/data/1166691/000162828026004994/cmcsa-20251231.htm)
- [SEC EDGAR: COMCAST CORP annual and quarterly filings](https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1166691&type=10-K)
- [SEC: EDGAR application programming interfaces (XBRL frames and submissions data)](https://www.sec.gov/search-filings/edgar-application-programming-interfaces)
- [SEC: Financial Statement Data Sets](https://www.sec.gov/data-research/sec-markets-data/financial-statement-data-sets)

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**[Swoopr Editorial Team](https://www.getswoopr.com/authors/swoopr-editorial-team/)**



Swoopr's editorial team produces independent investment education content reviewed for accuracy and clarity. We do not provide personalized financial advice. See our [editorial policy](https://www.getswoopr.com/legal/editorial-policy/) and [corrections policy](https://www.getswoopr.com/legal/corrections-policy/).