Comcast

Comcast sells broadband, mobile phone service and pay TV in the US under the Xfinity brand, and services to businesses under Comcast Business. In Europe, it owns Sky. Through NBCUniversal, it also owns the NBC and Telemundo networks, the Peacock streaming service, Universal film and TV studios, and Universal theme parks. It reports five segments: Residential Connectivity & Platforms, Business Services Connectivity, Media, Studios and Theme Parks.

At September 30, 2026, it had 28.3 million US residential broadband customers and 10.6 million wireless lines, and Peacock had 48 million paid subscribers. Most of its profit comes from monthly broadband, video and mobile bills. On January 2, 2026, it spun off Versant, its group of cable TV networks, and gave shareholders 1 Versant share for every 25 Comcast shares. In June 2026, it announced a plan to spin off NBCUniversal and Sky, which it expects to complete in mid-2027.

The market prices Comcast at a discount because it believes that the US broadband business, the main source of profit, is in a long decline. Fiber companies and fixed wireless take customers with low prices, and Comcast cut its own prices to keep customers. In Q3 2026, Comcast lost 144,000 US broadband customers, against 91,000 a year earlier, domestic broadband revenue fell 4.7%, and Residential Connectivity & Platforms adjusted EBITDA fell 5.8%. Wireless growth slowed to 368,000 new lines in Q3 2026 from 448,000 in Q2 2026.

In October 2026, SpaceX bought spectrum for a satellite mobile service, which adds a new threat to the wireless growth that offsets the broadband losses. Comcast now redesigns its organization to cut costs, and press reports of the Q3 call say that it expects a charge of more than $1 billion in Q4 2026. For the gap to close, broadband customer losses must get smaller in 2027, broadband revenue must stop falling, wireless lines must keep growing by about 350,000 or more each quarter, the cost program must protect margins, and the NBCUniversal and Sky spin-off must complete with an investment-grade balance sheet for both companies. The next tests are the Q4 2026 report and the 2027 outlook, expected in late January 2027, and the spin-off, expected in mid-2027.

If broadband stabilizes, the gap can close slowly over 2027 and 2028. The main risk is that fiber and wireless rivals keep taking customers, so that cash flow falls each year.

1. Oct 22, 2026Failed

   Q3 2026 results: broadband losses and wireless growthUS broadband losses below the 140,000 that KeyBanc expects, with wireless additions near 400,000 or more, pass; larger broadband losses or a faster fall in broadband revenue fail.Outcome: Comcast lost 144,000 US broadband customers, more than the 140,000 that KeyBanc expected, and added only 368,000 wireless lines.
2. Jan 22, 2027 · est.Pending

   Full-year 2026 results and 2027 planSmaller broadband losses in Q4 2026 and a clear debt plan for the two companies pass; a 2027 plan with lower connectivity EBITDA again fails.
3. Q2 2027 · est.Pending

   NBCUniversal and Sky spin-offA tax-free spin-off on time, with investment-grade ratings for both companies and buybacks that start again, passes; a delay or a downgrade fails.

Every passed and failed checkpoint across all picks

• October 22, 2026Comcast reported Q3 2026 results. Revenue was $29.3 billion, down 6.1%, and up 0.5% pro forma for Versant and the sale of Sky Germany. Adjusted EPS was $1.07, down 4.0%, and free cash flow was $4.2 billion. Comcast lost 144,000 US broadband customers, against 91,000 a year earlier, and added 368,000 wireless lines. Peacock had its second profitable quarter, with $261 million of adjusted EBITDA, and Theme Parks adjusted EBITDA fell 17.1%. According to press reports of the call, the CFO said that Comcast expects a charge of more than $1 billion in Q4 2026, mostly for a redesign of its organization.
• October 8, 2026SpaceX agreed to buy nationwide 800 MHz spectrum from Grain Management for its Starlink Mobile service. Investors feared more competition for Xfinity Mobile. Comcast stock hit a 13-year low of $20.75 during the day and closed up 1%.
• September 25, 2026KeyBanc said that it expects a loss of 140,000 broadband customers in Q3 2026, and losses of 558,000 in 2026 and 665,000 in 2027. It said that rivals' 1-gigabit offers at $30 to $40 a month win customers, and that the spin-off is not a catalyst.

Last earnings

October 22, 2026 (8-K on sec.gov)

Next earnings

Expected about January 22, 2027. The company has not confirmed the date.

• 10-QQuarterly report for the period ended Sep 30, 2026Filed October 22, 2026 · cmcsa-20260930
• 8-KEarnings releaseFiled October 22, 2026 · Press release and exhibits
• 10-QQuarterly report for the period ended Jun 30, 2026Filed July 23, 2026 · cmcsa-20260630
• 8-KEarnings releaseFiled July 23, 2026 · Press release and exhibits
• 8-KOther company newsFiled June 29, 2026 · Read it on sec.gov
• 8-KShareholder vote resultsFiled June 12, 2026 · cmcsa-20260610
• 8-KOther company newsFiled June 3, 2026 · Read it on sec.gov
• 8-KOther company newsFiled June 2, 2026 · Read it on sec.gov
• 8-KOther company newsFiled May 27, 2026 · Read it on sec.gov
• 10-QQuarterly report for the period ended Mar 31, 2026Filed April 23, 2026 · cmcsa-20260331

Every filing on SEC EDGAR (CIK 1166691)

• Broadband competition. Fiber companies and fixed wireless offer low prices, and KeyBanc said in September 2026 that only about 55% of Comcast's area faces fiber today, so the pressure can grow. Comcast must choose between more customer losses and lower prices. Domestic broadband revenue fell 4.7% in Q3 2026, and Comcast lost 144,000 broadband customers in the quarter.
• Wireless growth offsets part of the broadband decline, but new rivals can slow it. Wireless line additions fell to 368,000 in Q3 2026 from 448,000 in Q2 2026. In October 2026, SpaceX bought spectrum to offer mobile service from satellites.
• The NBCUniversal and Sky spin-off needs board approval, tax opinions, regulatory approvals and new financing. It can be delayed or changed, and it adds cost and management distraction. Buybacks are paused until it is done.
• Pay TV customers keep leaving: Comcast lost 274,000 US video customers in Q3 2026. Linear TV ratings fall, and sports rights such as the NBA raise costs. Theme Parks adjusted EBITDA fell 17.1% in Q3 2026 because fewer people paid for park admission.
• Comcast had $87.4 billion of debt at September 30, 2026. A weaker cash flow lowers the room for dividends and investment after the split.

Comcast funds itself mainly with unsecured notes, which Comcast, NBCUniversal and Comcast Cable guarantee together. Debt was $87.4 billion at September 30, 2026, of which $3.6 billion was due within one year. Read more

Yield at the current rate

5.3% (current annual rate, at today’s price)

Dividend yield

5.3% (last 12 months, at today’s price of $25.02)

Paid per share

$1.32 in the last 12 months (4 payments)

Current annual rate

$1.32 ($0.33 × 4 a year)

Payout ratio

23% of the last fiscal year’s earnings (the year that ended December 31, 2025)

Latest ex-dividend date

October 7, 2026, $0.33 per share

Dividends per share by year

From 2020 to 2025, the dividend grew by about 7.6% a year. From 2015 to 2025, the dividend grew by about 10.3% a year.

Source: company filings and market data, read on November 13, 2026. The ex-dividend date is the first day a buyer no longer gets the next payment.