diff --git a/ext/standard/tests/url/gh12703.phpt b/ext/standard/tests/url/gh12703.phpt
new file mode 100644
index 0000000000000..88dd3de1434cd
--- /dev/null
+++ b/ext/standard/tests/url/gh12703.phpt
@@ -0,0 +1,43 @@
+--TEST--
+GH-12703 parse_url() return false on absolute path containing ':' and no query string.
+--FILE--
+<?php
+var_dump(
+    parse_url('https://github.com/page:1'),
+    parse_url('https://github.com/page:1',%20/PHP_URL_SCHEME),
+
+    // Working example for context.
+    parse_url('https://github.com/page:1?foo=bar'),
+
+    // Examples from similar GH issue (7890)
+    parse_url('https://www.examle.com/foo:65535/'),
+    parse_url('https://www.examle.com:8080/foo:65535/'),
+);
+
+?>
+--EXPECT--
+array(1) {
+  ["path"]=>
+  string(7) "/page:1"
+}
+NULL
+array(2) {
+  ["path"]=>
+  string(7) "/page:1"
+  ["query"]=>
+  string(7) "foo=bar"
+}
+array(2) {
+  ["host"]=>
+  string(14) "www.examle.com"
+  ["path"]=>
+  string(11) "/foo:65535/"
+}
+array(3) {
+  ["host"]=>
+  string(14) "www.examle.com"
+  ["port"]=>
+  int(8080)
+  ["path"]=>
+  string(11) "/foo:65535/"
+}
diff --git a/ext/standard/url.c b/ext/standard/url.c
index e3d95768fb019..eb4d59d2191bf 100644
--- a/ext/standard/url.c
+++ b/ext/standard/url.c
@@ -118,7 +118,7 @@ PHPAPI php_url *php_url_parse_ex2(char const *str, size_t length, bool *has_port
 		while (p < e) {
 			/* scheme = 1*[ lowalpha | digit | "+" | "-" | "." ] */
 			if (!isalpha(*p) && !isdigit(*p) && *p != '+' && *p != '.' && *p != '-') {
-				if (e + 1 < ue && e < binary_strcspn(s, ue, "?#")) {
+				if (*s != '/' && e + 1 < ue && e < binary_strcspn(s, ue, "?#")) {
 					goto parse_port;
 				} else if (s + 1 < ue && *s == '/' && *(s + 1) == '/') { /* relative-scheme URL */
 					s += 2;