Apple, Amazon, Roku, Comcast and Tubi Q3 2025

Apple, Amazon, Roku, Tubi, and Comcast released Q3 2025 earnings.

Some big takeaways here are that Roku returned to profitability for the first time since 2021, Tubi hit its first-ever profitable quarter, and Apple’s services revenue surged 15% to a record $28.75B. This happened largely due to strong ad-supported streaming growth, strategic price hikes, and renewed demand for premium sports.

Comcast’s Peacock stays at 41M subs. Here are the earnings stats for the NBCUniversal streamer:

Stayed flat from last quarter:

• 41M subs (no change for 2 straight quarters)

Losses:

• $1.4bn revenue (down from $1.5bn last year)

• -$217M (improved from $346M losses last year)

• -226K domestic broadband subs (down from -199K last quarter)

For the media unit of Peacock’s parent company, Comcast, profit rose 28% (to $832M). $31.2 bn revenue (down 2.7% from last year).

NBCU’s movie and TV studio had $3bn in rev up 6% thanks to Jurassic World Rebirth and content licensing, but profit down 21.9% to $365M.

Comcast has tapped Steve Croney to become CEO of its Connectivity & Platforms business, while Dave Watson will shift to Vice Chairman, guiding strategic initiatives. Croney’s promotion signals a leadership shift that will directly impact Peacock’s streaming strategy, broadband bundling, and future tech integration across Comcast’s entertainment and connectivity ecosystem. He will take on his new position effective Jan. 1st.

Bottom line: Comcast is losing on linear TV and broadband, and Peacock isn’t a flagship streamer. But Universal Studios is still cranking out hits, which can then drive growth to their platforms or through licensing. Right now, Peacock's price hikes are driving revenue, but the churn is nullifying some of these effects.

We’ll need to see how many new subs Peacock drives now that they’ve secured the NBA (the deal cost NBCU $2.45bn for NBA/WNBA rights for 11 years).

Roku’s Q3 2025:

• $1.2bn - Revenue

  • ↑ 14%

• $24.8M - Profit

  • ↑ from $9M loss

  • First profit since 2021

• 36.5bn streaming hours

  • ↑ 14%

Roku’s current scale exceeds half of broadband households and continues to grow with new features like voice search.

Apple Q4 2025.

Apple does not release individual numbers for Apple TV. Here is the most relevant figure from their earnings call and the delta from Q3 2024:

• $28.75bn - Overall services revenue

  • ↑ 15%

  • Bolstered by F1 and The Studio

​Apple’s net sales were $102.5bn, meaning the services division makes up almost 28% of their total revenue. And a $24.7bn profit (up 86%).

Full report here.

Amazon Q3 2025.

Amazon does not release individual numbers for Prime Video. Here is the most relevant figure from their earnings call and the delta from Q3 2024:

• $17.7bn - Overall ad services revenue

  • ↑ 24%

  • Boosted by Prime Video’s ad-supported tier

Full report here. Their net sales were $180bn. $21.2bn profit (up 38%)

Fox has reported a 5% increase in revenue for Q1 2026, all thanks to their FAST streaming service Tubi.

A major growth driver for Fox, Tubi achieved its first profitable quarter ever. Largely credited to the rising advertising revenue and the streamer’s extensive engagement, Tubi’s revenue surged around 27% year-over-year. While higher content and marketing costs weighed on overall profitability, Tubi’s performance underscores Fox’s push into ad-supported streaming.

Fox also announced a $1.5 bn share-buyback program to boost its share price, which is set in motion today. With Tubi at the forefront of their digital expansion, Fox is positioning itself to blend traditional broadcast revenue with fast-growing streaming opportunities.