Comcast Q3 revenue down 6.1%
October 22, 2026



Comcast has reported its results for Q3 2026. The corporation saw quarterly revenue drop by 6.1 per cent to $29.3 billion (€26.1bn), despite box office revenue surging 77 per cent to $1.1 billion, led by the continued success of Christopher Nolan’s The Odyssey which is now Universal’s highest-grossing movie of all time.

Streaming service Peacock delivered its second consecutive profitable quarter with $261 million of adjusted EBITDA on $1.8 billion in revenue, driven by growth in distribution. Subscriber numbers remained largely flat on Q2 at around 48 million.


Revenue from the company’s connectivity and platforms operations fell to $19.6 billion as broadband users decreased by 144,000 in the quarter, compared with a loss of 91,000 in Q3 2025. Comcast also shed 274,000 domestic video customers, compared with 257,000 in the same period in 2025.

Revenue from the company’s TV, film, and theme parks operations increased by 6.5 per cent to $10.5 billion. Ad sales tied to the FIFA 2026 World Cup lifted the overall segment, with US ad sale rising by 14.6 per cent. There was a 4.4 per cent dip in theme parks revenues attributed to lower revenue from park admissions.

Comcast will soon be separating its media and tech businesses.

“We are taking decisive steps to strengthen our businesses and unlock the full potential of their structural advantages,” said a press statement from Brian L. Roberts and Mike Cavanagh, co-CEOs of Comcast Corporation. “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 capitalise 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,” added the statement.

Reacting to the results, Paolo Pescatore of PP Foresight said: “Comcast’s broadband business remains its biggest concern. Intensifying competition from fibre and fixed wireless providers is pressuring customer numbers, pricing, and profitability. Its revised commercial strategy is encouraging, but there is little evidence of a sustained turnaround. Wireless represents a significant opportunity to strengthen customer relationships and reinforce convergence. However, Comcast must demonstrate that mobile growth can improve broadband retention and deliver stronger overall customer economics.”

“Peacock’s profitability is another key milestone, underscoring the value of premium content and live sport. However, flat sequential subscriber growth raises questions about its ability to sustain momentum beyond marquee sporting events, particularly given escalating content costs. The wider restructuring should provide greater strategic focus and accountability, although it will not resolve underlying operational challenges.”

“Ultimately, Comcast has considerable scale and valuable assets, but execution remains critical. Stabilising broadband, accelerating convergence, and delivering sustainable profitability for streaming must take priority,” Pescatore concluded.