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Comcast Corp (NASDAQ:CMCSA) stock gained on Thursday after the company reported better-than-expected third-quarter results, backed by its internet price-lock guarantee and bundled plans.
Total domestic wireless line net additions reached 414,000.
The Philadelphia-based company reported revenue of $31.2 billion, beating the analyst consensus estimate of $30.7 billion.
Also Read: Comcast Rides High On Theme Park And Studio Success
The company lost 104,000 broadband customers during the quarter, reflecting pressure from telecom rivals. Verizon Communications Inc (NYSE:VZ) reported 306,000 broadband net additions in the quarter. T-Mobile US, Inc (NASDAQ:TMUS) clocked broadband net customer additions of 560,000 during the quarter.
Comcast also lost 257,000 video subscribers as consumers continued to shift to streaming platforms.
Adjusted earnings per share came in at $1.12, beating analyst consensus estimates of $1.10. Its media segment posted a 19.9% Y/Y revenue decline to $6.6 billion, primarily due to lower domestic advertising and domestic distribution revenue, reflecting the comparison to the Paris Olympics in the prior-year period.
Peacock streaming reported a revenue decline of ~10% Y/Y to $1.36 billion. Peacock's paid subscribers rose 14% Y/Y to 41 million.
Studios' revenue increased by 6.1% Y/Y to $3.0 billion, primarily due to higher content licensing revenue. It got a big boost fromk the release of “Jurassic World: Rebirth” in July.
Theme Parks revenue increased by 18.7% Y/Y to $2.7 billion primarily due to higher revenue at domestic theme parks, driven by the successful opening of Epic Universe in May 2025.
Connectivity & Platforms adjusted EBITDA declined 3.5% Y/Y to $8.01 billion, with a margin decline of 120 bps to 39.7%.
Comcast said it generated $4.95 billion in free cash flow during the quarter. The company paid dividends totaling $1.2 billion and repurchased 46.0 million of its shares for $1.5 billion, resulting in a total return of capital to shareholders of $2.9 billion.
Connectivity & Platforms’ capital expenditures increased 19.5% to $2.3 billion, reflecting higher spending on scalable infrastructure and customer premise equipment.
Price Action: Comcast stock was trading higher by 1.79% to $29.04 premarket at last check on Thursday.
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Photo by Daniel J. Macy via Shutterstock
