EL7.AI
StocksMedium•22 October 2026•
2 min read

Comcast revenue falls 6.1% in third quarter despite earnings beat

Key Facts

1Comcast revenue fell 6.1% year on year to $29.30 billion in the third quarter of 2026.
2Earnings per share were $1.07, compared with expectations of $0.980.
3Peacock posted its first quarterly profit in the second quarter of 2026, with earnings before interest, taxes, depreciation and amortization of $189 million.
4Comcast lost 167,000 broadband subscribers in the second quarter of 2026, compared with expected losses of 165,300 subscribers.

Comcast reported revenue of $29.30 billion in the third quarter of 2026, down 6.1% from the same period a year earlier, despite earnings per share beating analysts' expectations, according to results published by Investing.com on October 22. Earnings per share were $1.07, compared with expectations of $0.980 in the site's published earnings table. The table listed revenue estimates of $29.22 billion, which the actual figure exceeded. In separate coverage of the results, the site cited another revenue estimate of $29.14 billion, attributed to the Bloomberg consensus. The report said revenue "fell 6.1% year on year to $29.30 billion, but also topped expectations." The quarter thus combined a year-on-year revenue decline with earnings and sales that exceeded the estimates cited in the coverage.

The results announcement was preceded by a prevailing trend toward cuts to earnings per share forecasts, according to Investing.com. The company recorded 13 downward revisions to forecasts over the last 90 days, compared with 3 upward revisions. The previous results announcement, on July 23, was followed by a share-price decline that exceeded the move priced in by the options market, according to a report published by the site in October. The stock fell 6.7% at the time, against an expected move of 5.2%. That loss followed second-quarter results, which also saw Peacock achieve quarterly profitability for the first time.

Comcast said Peacock generated earnings before interest, taxes, depreciation and amortization of $189 million, according to Investing.com's coverage of the second-quarter 2026 results. The report described the turnaround by saying the platform "achieved quarterly profitability for the first time," marking a milestone for the company's streaming business. Meanwhile, Comcast lost 167,000 broadband subscribers during the same period, according to Reuters via Investing.com. Those losses exceeded FactSet estimates, which had pointed to a loss of 165,300 subscribers. Reuters said "broadband subscribers fell by 167,000 in the second quarter, more than the estimated losses of 165,300." Its coverage also pointed to weak demand for theme parks during the previous quarter. The third-quarter results thus followed a period that combined Peacock's first quarterly profit, larger-than-expected broadband subscriber losses and weak demand in the theme parks business.