Top Communication Services Stocks by Revenue
Top communication services companies ranked by revenue, latest annual filings.
What Revenue Means for Communication Services Companies
Revenue in communication services blends very different streams: advertising tied to user engagement, subscription fees from streaming and wireless plans, content licensing, and telecom access charges. The top line captures scale, but the ad-driven portion is economically sensitive while the subscription portion is contractual, so two firms with similar revenue can experience downturns very differently depending on how the mix is composed.
Why It Matters in Communication Services
Scale matters intensely here because advertising platforms and content libraries benefit from network effects and amortization of fixed content costs. Each incremental subscriber or advertiser often earns high incremental margin. Still, revenue quality varies sharply across the mix: ad revenue cycles with the broader economy, streaming churn can reverse subscriber gains, and regulatory scrutiny of platform practices can reshape monetization without warning.
What to Read Alongside
Pair revenue with Gross Margin to see how content and infrastructure costs pressure each dollar, Free Cash Flow for cash conversion after heavy capex, and Capex for network and content investment intensity behind the top line.
| # | Symbol | Company | Sector | ||
|---|---|---|---|---|---|
| 1 | GOOG | Alphabet Inc. | Communication Services | $402.84B | $3.49T |
| 2 | META | Meta Platforms, Inc. | Communication Services | $200.97B | $1.56T |
| 3 | VZ | Verizon Communications Inc. | Communication Services | $138.19B | $189.37B |
| 4 | T | AT&T Inc. | Communication Services | $125.65B | $145.71B |
| 5 | CMCSA | Comcast Corporation | Communication Services | $123.71B | $86.61B |
| 6 | DIS | The Walt Disney Company | Communication Services | $94.42B | $201.59B |
| 7 | TMUS | T-Mobile US, Inc. | Communication Services | $88.31B | $171.61B |
| 8 | CHTR | Charter Communications, Inc. | Communication Services | $54.77B | $13.51B |
| 9 | AMX | América Móvil, S.A.B. de C.V. | Communication Services | $52.52B | $76.79B |
| 10 | VOD | Vodafone Group Public Limited Company | Communication Services | $46.60B | $36.10B |
| 11 | NFLX | Netflix, Inc. | Communication Services | $45.18B | $260.38B |
| 12 | SKYD | Skydance Corporation | Communication Services | $29.21B | $40.39B |
| 13 | LYV | Live Nation Entertainment, Inc. | Communication Services | $25.20B | $41.31B |
| 14 | SPOT | Spotify Technology S.A. | Communication Services | $20.17B | $123.97B |
| 15 | KT | KT Corporation | Communication Services | $19.56B | $8.97B |
| 16 | BIDU | Baidu, Inc. | Communication Services | $18.46B | $27.87B |
| 17 | WPP | WPP plc | Communication Services | $18.22B | $5.88B |
| 18 | BCE | BCE Inc. | Communication Services | $17.84B | $20.16B |
| 19 | OMC | Omnicom Group Inc. | Communication Services | $17.27B | $23.70B |
| 20 | FOX | Fox Corporation | Communication Services | $17.13B | $25.10B |
| 21 | NTES | NetEase, Inc. | Communication Services | $16.11B | $82.89B |
| 22 | RCI | Rogers Communications Inc. | Communication Services | $15.83B | $18.01B |
| 23 | ECHO | EchoStar Corporation | Communication Services | $15.00B | $27.53B |
| 24 | TU | TELUS Corporation | Communication Services | $14.95B | $14.35B |
| 25 | LUMN | Lumen Technologies, Inc. | Communication Services | $12.40B | $4.11B |
| 26 | SKM | SK Telecom Co., Ltd. | Communication Services | $11.84B | $11.99B |
| 27 | VIV | Telefônica Brasil S.A. | Communication Services | $10.88B | $18.26B |
| 28 | NWS | News Corporation | Communication Services | $9.03B | $15.55B |
| 29 | TLK | Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk | Communication Services | $8.80B | $10.95B |
| 30 | SIRI | Sirius XM Holdings Inc. | Communication Services | $8.56B | $10.90B |
| 31 | CHT | Chunghwa Telecom Co., Ltd. | Communication Services | $7.53B | $38.67B |
| 32 | WMG | Warner Music Group Corp. | Communication Services | $6.71B | $16.37B |
| 33 | VSNT | Versant Media Group, Inc. | Communication Services | $6.69B | $4.61B |
| 34 | TTWO | Take-Two Interactive Software, Inc. | Communication Services | $6.66B | $40.18B |
| 35 | SNAP | Snap Inc. | Communication Services | $5.93B | $8.56B |
| 36 | TIGO | Millicom International Cellular S.A. | Communication Services | $5.82B | $13.96B |
| 37 | TEO | Telecom Argentina S.A. | Communication Services | $5.71B | $4.29B |
| 38 | TKC | Turkcell Iletisim Hizmetleri A.S. | Communication Services | $5.62B | $3.98B |
| 39 | APP | AppLovin Corporation | Communication Services | $5.48B | $129.62B |
| 40 | NXST | Nexstar Media Group, Inc. | Communication Services | $4.95B | $5.86B |
| 41 | RBLX | Roblox Corporation | Communication Services | $4.89B | $35.28B |
| 42 | LBTYA | Liberty Global Ltd. | Communication Services | $4.88B | $3.29B |
| 43 | TIMB | TIM S.A. | Communication Services | $4.86B | $8.62B |
| 44 | AMC | AMC Entertainment Holdings, Inc. | Communication Services | $4.85B | $2.80B |
| 45 | PSO | Pearson plc | Communication Services | $4.81B | $10.38B |
| 46 | ROKU | Roku, Inc. | Communication Services | $4.74B | $23.93B |
| 47 | TKO | TKO Group Holdings, Inc. | Communication Services | $4.74B | $36.15B |
| 48 | TME | Tencent Music Entertainment Group | Communication Services | $4.70B | $15.58B |
| 49 | FWONA | Formula One Group | Communication Services | $4.48B | $25.32B |
| 50 | LILA | Liberty Latin America Ltd. | Communication Services | $4.44B | $1.66B |
| 51 | VEON | VEON Ltd. | Communication Services | $4.40B | $5.34B |
| 52 | BILI | Bilibili Inc. | Communication Services | $4.34B | $5.86B |
| 53 | PINS | Pinterest, Inc. | Communication Services | $4.22B | $10.87B |
| 54 | IQ | iQIYI, Inc. | Communication Services | $3.90B | $926.33M |
| 55 | PHI | PLDT Inc. | Communication Services | $3.70B | $3.95B |
| 56 | MTCH | Match Group, Inc | Communication Services | $3.49B | $8.88B |
| 57 | TV | Grupo Televisa, S.A.B. | Communication Services | $3.27B | $1.24B |
| 58 | SBGI | Sinclair, Inc. | Communication Services | $3.17B | $990.23M |
| 59 | CNK | Cinemark Holdings, Inc. | Communication Services | $3.12B | $4.51B |
| 60 | GTN | Gray Media, Inc. | Communication Services | $3.10B | $506.68M |
| 61 | STGW | Stagwell Inc. | Communication Services | $2.91B | $2.89B |
| 62 | TTD | The Trade Desk, Inc. | Communication Services | $2.90B | $6.11B |
| 63 | NYT | The New York Times Company | Communication Services | $2.82B | $10.93B |
| 64 | PLTK | Playtika Holding Corp. | Communication Services | $2.76B | $933.73M |
| 65 | Z | Zillow Group, Inc. | Communication Services | $2.58B | $6.66B |
| 66 | PPLI | People Incorporated | Communication Services | $2.39B | $3.16B |
| 67 | TDAY | USA TODAY Co., Inc. | Communication Services | $2.30B | $971.30M |
| 68 | RDDT | Reddit, Inc. | Communication Services | $2.20B | $18.36B |
| 69 | JOYY | JOYY Inc. | Communication Services | $2.12B | $3.96B |
| 70 | CRTO | Criteo S.A. | Communication Services | $1.94B | $758.89M |
| 71 | TBLA | Taboola.com Ltd. | Communication Services | $1.91B | $532.55M |
| 72 | WB | Weibo Corporation | Communication Services | $1.76B | $1.60B |
| 73 | STUB | StubHub Holdings, Inc. | Communication Services | $1.75B | $2.35B |
| 74 | WLY | John Wiley & Sons, Inc. | Communication Services | $1.68B | $2.55B |
| 75 | SCHL | Scholastic Corporation | Communication Services | $1.58B | $684.83M |
| 76 | MOMO | Hello Group Inc. | Communication Services | $1.48B | $660.72M |
| 77 | YELP | Yelp Inc. | Communication Services | $1.46B | $1.06B |
| 78 | ZD | Ziff Davis, Inc. | Communication Services | $1.45B | $1.70B |
| 79 | WBTN | WEBTOON Entertainment Inc. | Communication Services | $1.38B | $1.31B |
| 80 | IDT | IDT Corporation | Communication Services | $1.30B | $2.04B |
| 81 | QNST | QuinStreet, Inc. | Communication Services | $1.29B | $1.18B |
| 82 | TDS | Telephone and Data Systems, Inc. | Communication Services | $1.23B | $3.78B |
| 83 | SPHR | Sphere Entertainment Co. | Communication Services | $1.22B | $4.35B |
| 84 | BZ | Kanzhun Limited | Communication Services | $1.18B | $7.73B |
| 85 | KYIV | Kyivstar Group Ltd. | Communication Services | $1.16B | $2.95B |
| 86 | MSGK | MSG Knickerbockers Corp. | Communication Services | $1.15B | $7.51B |
| 87 | MAX | MediaAlpha, Inc. | Communication Services | $1.11B | $840.69M |
| 88 | MSGE | Madison Square Garden Entertainment Corp. | Communication Services | $1.06B | $3.65B |
| 89 | GLIBA | Liberty Capital Corporation | Communication Services | $1.05B | $1.05B |
| 90 | BMBL | Bumble Inc. | Communication Services | $965.66M | $924.50M |
| 91 | HUYA | HUYA Inc. | Communication Services | $929.83M | $500.12M |
| 92 | ATHM | Autohome Inc. | Communication Services | $922.63M | $2.63B |
| 93 | GOGO | Gogo Inc. | Communication Services | $910.49M | $526.45M |
| 94 | CARG | CarGurus, Inc. | Communication Services | $906.98M | $3.01B |
| 95 | MANU | Manchester United plc | Communication Services | $898.49M | $3.90B |
| 96 | IRDM | Iridium Communications Inc. | Communication Services | $871.66M | $4.67B |
| 97 | NRDS | NerdWallet, Inc. | Communication Services | $836.60M | $500.20M |
| 98 | UPWK | Upwork Inc. | Communication Services | $787.78M | $1.26B |
| 99 | MCS | The Marcus Corporation | Communication Services | $758.46M | $832.01M |
| 100 | DV | DoubleVerify Holdings, Inc. | Communication Services | $748.29M | $2.12B |
No companies match this search.
How this ranking is built
Companies are ranked by revenue as reported in their most recent annual filing with the SEC. Figures shown are in US dollars (or percent, as noted), rounded to two decimals.
- Source: annual 10-K / 20-F filings from companies trading on US exchanges (NYSE, Nasdaq, AMEX).
- Fiscal year: whichever annual period the company has most recently filed. Fiscal years don't always align with the calendar year, so the "as of FY" stamp above reflects the most common year across the table.
- Filtered out: warrants, preferred shares, and duplicate listings that share a parent company's financials.
- Size floor: A company qualifies at $500 million in market cap or above. Below that, one mis-stated figure outranks the companies the list is about.
- Currency check: A company whose annual revenue runs above 15 times its market cap is left out, because at that gap the two figures are not in the same currency.
- Currency check: A company whose balance sheet runs above 150 times its market cap is left out for the same reason.
- Market cap: stated at each company's latest close, which is newer than the annual figure ranked here.
- Update cadence: refreshed as companies file new annual reports (typically within 60–90 days of fiscal year end).
Not financial advice. This is a research tool, not a recommendation.
Frequently asked questions
Why does ad-driven revenue behave differently from subscription revenue?
Advertising budgets are among the first line items marketers cut in a slowdown, so ad-driven revenue is closely tied to the broader economic cycle and can decline sharply in downturns. Subscription revenue is contractual and tends to be stickier, though it is not immune to churn if price increases outpace perceived value. A communication services firm with a high share of recurring subscription revenue typically shows steadier top-line behavior through cycles than one dependent on ad spend.
How do content costs relate to streaming revenue?
Streaming platforms spend heavily on content, and that spending is capitalized and amortized over time rather than expensed immediately. Revenue can therefore grow while content obligations, some already committed for years ahead, build on the balance sheet. Reading revenue alongside content liabilities and free cash flow reveals whether subscriber growth is funding the content investment or whether the platform is still subsidizing growth from prior capital raises. The two pictures can be very different.
Does large revenue protect communication services firms from disruption?
Scale helps but does not immunize. Incumbent platforms and networks enjoy real advantages in data, content libraries, and distribution, yet consumer attention is finite and shifts quickly when new formats emerge. History in this sector is full of large-revenue franchises, from print media to cable bundles, that eroded rapidly once user behavior changed. Revenue signals current position; the durability question usually depends on engagement and churn metrics outside the income statement.