Comcast Quarterly Results Top Views Despite Continued Domestic Broadband Subscriber Losses

01:04 PM EDT, 10/22/2026 (MT Newswires) -- Comcast's (CMCSA) third-quarter results surpassed Wall Street's expectations Thursday even as the media giant continued to lose domestic broadband subscribers. Revenue fell 6.1% year over year to about $29.3 billion in the September quarter, but exceeded the FactSet-polled consensus of $29.22 billion. Adjusted earnings dropped to $1.07 a share from $1.12 a year earlier, but topped the Street's $0.99 views. The company's shares were up 4% in afternoon trade, but have fallen nearly 18% so far this year. Third-quarter revenue from the connectivity and platforms unit decreased 2.7% year over year to $19.66 billion amid a 3.5% drop the residential component to $17.02 billion. Comcast lost 144,000 domestic residential broadband customers in the quarter, compared with 91,000 losses a year earlier, while video customer losses widened to 274,000 from 257,000. Domestic wireless net additions reached 368,000, down from 414,000. The content and experiences division's revenue increased 6.5% to $10.54 billion. Sales in the studios and theme park divisions declined in the September quarter from a year earlier. In June, the company outlined plans to split into two publicly traded companies, separating its NBCUniversal and Sky media businesses from its broadband and connectivity operations. "We are on track to complete the transaction by the middle of next year and are well into the execution phase, which includes building the standalone public company infrastructure," Comcast co-Chief Executive Mike Cavanagh said on an earnings conference call Thursday, according to a FactSet transcript. "While there is still significant work ahead, we have a clear path to completion." Comcast expects to take a charge of more than $1 billion in the fourth quarter related mostly to the company's "transformation efforts," Chief Financial Officer Jason Armstrong said on the call. "We're challenging established ways of working and redesigning how we make decisions, allocate resources and run the business to create a more agile, efficient organization that can compete more effectively and invest more decisively in growth," Cavanagh told analysts. Last month, KeyBanc Capital Markets downgraded its rating on Comcast's shares and said it didn't believe the NBCUniversal spinoff would be a catalyst to the stock as the fundamentals of both businesses' key assets are deteriorating with potential "multiple compression." On Wednesday, telecommunications giant AT&T (T) raised its full-year earnings outlook following stronger-than-expected third-quarter results, though its postpaid phone subscriber growth missed projections. Verizon Communications (VZ) is scheduled to release its third-quarter results Oct. 26, followed by T-Mobile US (TMUS) Oct. 28. Price: 22.93, Change: +0.85, Percent Change: +3.83