Comcast Q3: EPS $0.97, Revenue Down 6.1%, Broadband Losses Deepen
CMCSA is trading near its 52-week low of $20.48 (11% above the low).
Summary
Comcast's Q3 revenue fell 6.1% to $29.3 billion and adjusted EBITDA dropped 5.8% to $9.1 billion, with domestic broadband customers down 144,000. Media grew 13% on the World Cup and Peacock hit 48 million subscribers, while buybacks stay suspended ahead of the mid-2027 NBCUniversal spin-off.
Key Events · Earnings and Guidance · CMCSA
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Q3 Revenue Falls 6.1%
Revenue was $29,298 million versus $31,198 million a year earlier, reflecting the Versant separation, the Sky Germany sale and weaker connectivity.
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Broadband Subscriber Losses Worsen
Domestic broadband residential customers fell 144,000 in Q3 to 28,343,000, and domestic video customers fell 274,000 to 10,394,000.
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Media and Peacock Offset Weakness
Media revenue rose 13.0% to $5,359 million on the FIFA World Cup, and Peacock paid subscribers reached 48 million versus 41 million a year earlier; theme parks adjusted EBITDA fell 17.1% to $780 million.
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Debt Cut, Buybacks Suspended
Nine-month debt repayments totaled $10.4 billion, bringing carrying debt to $87.4 billion from $98.9 billion; the $15.0 billion repurchase program was suspended at the start of Q3 2026 with $6.7 billion remaining.
Analysis · CMCSA · Technology
The headline is a 6.1% revenue decline to $29.3 billion, with the Versant spin-off and the Sky Germany sale stripping businesses out of the top line, while adjusted EBITDA slipped 5.8% to $9.1 billion. Connectivity is the core problem: domestic broadband residential customers fell 144,000 in the quarter to 28.3 million, extending the competitive pressure management flagged in September. Media was the bright spot, with revenue up 13% on the FIFA World Cup and Peacock reaching 48 million paid subscribers, but theme parks EBITDA dropped 17.1%. Nine-month net income is down 48.7% largely because last year included the $9.4 billion Hulu gain. Against that backdrop the company repaid $10.4 billion of debt, cut carrying debt to $87.4 billion, and suspended buybacks ahead of the mid-2027 NBCUniversal spin-off — so capital return now depends on the separation executing.
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At the time of this filing, CMCSA was trading at $22.66 on NASDAQ in the Technology sector, with a market capitalization of approximately $80.4B. The 52-week trading range was $20.48 to $32.86. This filing was assessed with negative market sentiment and an importance score of 7 out of 10.