Comcast revenue falls 6.1% to $29.3 billion; domestic broadband loses 144,000 customers

Comcast Corporation reported third-quarter revenue of $29,298 million, down 6.1% from a year earlier, in a results release dated October 22. On a pro forma basis, which removes the Versant separation completed on January 2, 2026, and the sale of its Sky operations in Germany completed on May 31, 2026, revenue was up 0.5%.

What happened

Adjusted EBITDA, a non-GAAP measure of operating profit, fell 5.8% to $9,106 million; pro forma, it rose 0.8%. Net income attributable to Comcast rose 3.5% to $3,448 million, and earnings per share rose 7.2% to $0.97. Adjusted earnings per share fell 4.0% to $1.07 from $1.12. Free cash flow was $4,211 million, down 14.8%.

In its home connectivity business, Comcast lost 144,000 domestic broadband residential customers, against 91,000 in the third quarter of 2025, and 274,000 domestic video customers. It added 368,000 domestic wireless lines, for 10.6 million in total. Domestic broadband revenue fell 4.7% to $6,241 million, which the company attributed to "lower average rates and a decline in the number of domestic broadband customers."

Peacock, its streaming service, had paid subscribers of 48 million, up 17%, and adjusted EBITDA of $261 million, up $478 million from the year-earlier quarter. Studios adjusted EBITDA rose 18.6% to $402 million; the company said "The Odyssey" has become Universal's highest-grossing film of all time.

Co-chief executives Brian L. Roberts and Mike Cavanagh said that in Connectivity & Platforms, "our near-term financial results reflect the investments we're making to navigate an increasingly dynamic environment."

Shareholder returns

Comcast paid $1.2 billion in dividends. It "suspended its share repurchase program beginning in the third quarter and expects the pause to remain in place through the proposed separation of its businesses into two independent publicly traded companies," the release says.