Comcast (CMCSA) Q3 2026 Earnings
Adjusted EPS of $1.07 excludes $0.11 per share for amortization of acquisition-related intangible assets, $(0.03) per share for investment gains, $0.01 per share for transaction costs related to NBCUniversal spin-off, and $0.01 per share for other adjustments including share-based compensation expenses
How Did CMCSA Stock React to Q3 2026 Earnings?
Did CMCSA Beat Earnings? Q3 2026 Results
Yes. Comcast reported Q3 2026 earnings of $1.07 a share on Oct 22, 2026, beating the $0.99 consensus estimate by 8.4%. Revenue was $29.3B against a $29.2B estimate.
Comcast delivered a largely in-line quarter for Q3 2026, with adjusted EPS of $1.07 beating the $0.98 consensus estimate and marking the sixth consecutive quarter the company has topped expectations, even as headline revenue slipped 6.1% year-over-year to $29.30 billion amid significant portfolio reshaping. Stripping out the Versant separation completed in January and the Sky Germany sale finalized in May, revenue was essentially flat, up 0.5% on a pro forma basis, underscoring that the reported decline reflects deliberate divestitures rather than organic deterioration. The most compelling bright spot was Peacock, which generated $261.00 million in Adjusted EBITDA on $1.80 billion in revenue, a sharp turnaround from a $217.00 million loss a year earlier, while paid subscribers climbed 17% to 48 million. Domestic broadband remained a pressure point, shedding 144,000 net customers, but wireless service revenue surged 14.7% to $1.05 billion. Looking ahead, management indicated that its share repurchase suspension will persist through the planned NBCUniversal and Sky separation, with the company expressing confidence in its longer-term growth trajectory across connectivity and streaming.
- Peacock delivered second consecutive profitable quarter with $261 million Adjusted EBITDA and 48 million paid subscribers (17% YoY growth)
- Domestic wireless service revenue grew 14.7% driven by customer base growth and conversion of promotional free lines to paid service
- The Odyssey became Universal's highest-grossing film of all time with nearly $1.8 billion in worldwide box office
- Business Services Connectivity growth led by enterprise solutions
- Media revenue boosted by $224 million of incremental FIFA World Cup revenue
- Nearly 45% of broadband customers on Gig-Plus speed tiers, up nearly 10 percentage points year-over-year
- Premium Unlimited wireless plans represented approximately 40% of postpaid phone connects
“We are taking decisive steps to strengthen our businesses and unlock the full potential of their structural advantages. In Connectivity & Platforms, our near-term financial results reflect the investments we're making to navigate an increasingly dynamic environment. We're encouraged by improving customer satisfaction, strong conversion of free wireless lines to paid relationships, growing adoption of premium wireless plans across our 10.6 million total wireless lines and healthy growth in Business Services, led by Enterprise, where there is substantial opportunity ahead. At the same time, we're transforming our operations to move faster, improve efficiency and fully capitalize on the strength of our businesses. In Content & Experiences, Peacock delivered its second consecutive profitable quarter, generating $261 million in Adjusted EBITDA on $1.8 billion in revenue, driven by strong growth in distribution, while Universal surpassed $5 billion at the global box office, led by the record-breaking success of The Odyssey, now Universal's highest-grossing film of all time. Despite near-term cyclical headwinds in Theme Parks, we remain confident in the business's long-term growth potential. We generated $4.2 billion in free cash flow and are making meaningful progress on the separation of NBCUniversal and Sky, which remains on track to create two independent companies with the financial strength and flexibility to pursue their respective growth strategies.”
Comcast CEO, on the earnings call
What Is Comcast's Outlook?
Comcast is making meaningful progress on the separation of NBCUniversal and Sky, which remains on track to create two independent publicly traded companies with the financial strength and flexibility to pursue their respective growth strategies. The company suspended its share repurchase program beginning in Q3 and expects the pause to remain in place through the proposed separation. Management expressed confidence in Theme Parks' long-term growth potential despite near-term cyclical headwinds and sees substantial opportunity ahead in Business Services Enterprise. The company is transforming operations to move faster and improve efficiency.
CMCSA YoY Financials
CMCSA Revenue by Segment
When Does Comcast Report Next?
Figures from SEC filings and company reports. Not investment advice.