Comcast beat Wall Street’s Q3 earnings and revenue expectations on Thursday, despite losing broadband subscribers for the fourth straight quarter.
It dropped 104,000 U.S. broadband customers, ending with ~31.4 million—flat growth amid fierce 5G competition. Comcast rolled out growth plans earlier this year and, after the upcoming Versant spin-off of cable networks, will lean harder on connectivity under co-CEOs Brian Roberts and Mike Cavanagh.
Xfinity (broadband, cable, mobile) and NBCUniversal still topped forecasts:
- Adj. EPS: $1.12 vs. $1.10 est.
- Revenue: $31.2B vs. $30.70B
- est.Net income fell 8% to $3.33B ($0.90/share) from $3.63B ($0.94) YoY.
- Total revenue down ~3% to $31.2B from $32.1B.
- Connectivity & platforms (broadband/mobile/pay TV): $20.18B, –1% YoY.
- Mobile added a record 414K lines → 8.9M total, offsetting broadband weakness.
- Pay TV lost 257K subs → 11.5M remaining.
NBCUniversal’s cable networks (incl. CNBC) spin-out closes by year-end.
- Media revenue: $6.6B, –20% YoY; +4% ex-Olympics.
- Peacock: 41M subs (flat 3Q), losses cut to $217M from $436M.
- Studios: +6% to $3B on Jurassic World Rebirth.
- Theme parks: +19% to $2.72B; EBITDA +13% to $958M on Epic Universe launch.