Comcast lost 144,000 domestic residential broadband customers in Q3 2026 while adding 368,000 wireless lines, as its connectivity business continued to absorb pricing and customer-acquisition investments. Revenue totaled $29.30 billion, down 6.1% as reported but up 0.5% on a pro forma basis excluding the completed Versant separation and sale of Sky Germany. Net income attributable to Comcast reached $3.45 billion; GAAP diluted EPS was $0.97 and adjusted EPS was $1.07.

Domestic broadband revenue fell 4.7% to $6.24 billion, while wireless service revenue increased 14.7% to $1.05 billion. Combined domestic convergence revenue declined 2.3% to $7.29 billion. Business Services Connectivity generated $2.65 billion in revenue and $1.48 billion in adjusted EBITDA. Comcast’s presentation reports approximately 70% conversion of free wireless lines to paid relationships and approximately 45% of broadband customers on gig-plus tiers.

Comcast generated $4.21 billion in free cash flow and invested $3.06 billion in capital expenditures, plus $633 million in capitalized software and other intangible assets. Its planned NBCUniversal/Sky separation remains targeted for mid-2027, with share repurchases paused through the transaction. Peacock delivered a second consecutive quarter of positive adjusted EBITDA, providing a counterweight to weaker residential connectivity results.

“We are taking decisive steps to strengthen our businesses and unlock the full potential of their structural advantages,” said co-CEOs Brian L. Roberts and Mike Cavanagh.

Analysis

Comcast’s results show that wireless growth has not yet fully offset broadband revenue pressure. The operational response extends beyond promotional pricing: Aurora Networks confirmed September field trials of a unified DOCSIS 4.0 node supporting Full Duplex and Extended Spectrum architectures, alongside laboratory testing of a 1.8 GHz amplifier. These upgrades provide a path to higher symmetrical speeds over existing hybrid fiber-coax infrastructure. Separately, Comcast is deploying fiber sensing to detect nearby activity and potential damage, linking network investment to service reliability.

Enterprise connectivity offers a distinct growth path. Comcast Business and Colt are developing interoperability using Mplify Lifecycle Service Orchestration APIs to automate qualification, quoting and ordering across their networks, with governed AI-agent participation an explicit design objective. The editorial implication is that Comcast’s network strategy spans both access-network modernization and more programmable enterprise services. The earnings materials do not separately quantify revenue or returns from these initiatives.