Comcast has reported Q3 2026 EPS that is down 4% at $1.07, along with a 5.8% drop in adjusted EBITDA to $9.11bn (+0.8% pro-forma, taking into account the spin-off of Versant, completed at the very beginning of the year, as well as the sale of Sky's German operations at the end of May).
At $29.3bn, revenue at the cable operator and entertainment group declined 6.1%, but increased 0.5% on a pro-forma basis. In particular, the main Connectivity and Platforms division saw revenue contract 2.7%, including a 3.5% decline in residential revenue.
"We are encouraged by the improvement in customer satisfaction, the high conversion rate of free mobile lines into paid subscriptions, the increasing adoption of premium mobile plans among our 10.6m mobile lines and the sustained growth of business services," Brian L. Roberts and Mike Cavanagh said.
In the Content and Experiences division, the co-CEOs highlighted Peacock's second consecutive quarter of profitability, thanks to strong distribution growth, as well as more than $5bn in worldwide box-office revenue generated by Universal, driven by The Odyssey, now the highest-grossing film in Universal's history.
"We generated $4.2bn in free cash flow and are making significant progress in separating NBCUniversal and Sky. The transaction is proceeding according to schedule and is expected to result in the creation of two independent companies," they added.
Comcast Corporation is one of the leading American cable operators. Net sales (including intragroup) break down by activity as follows:
- cable services (81.7%): video and television channel access services, Internet access (No. 1 in the United States), and telephone services;
- content production and distribution (8.5%): entertainment programs, sports programs, etc.;
- operation of theme parks (7.5%);
- other (2.3%).
Net sales are distributed geographically as follows: the United States (76.9%), Europe (12.3%), and other (10.8%).
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