GET DAILY SIGNALSComcast (CMCSA) Q3 2026: EPS Beat and Peacock Profitability Stand Out Despite Revenue Decline of -6.1%
Key Takeaways
- Comcast reported third-quarter 2026 revenue of $29.3 billion, down 6.1% year over year on a reported basis but roughly flat on a pro forma basis.
- Adjusted earnings per share (EPS) came in at $1.07, beating the consensus estimate of $0.98, while adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) of $9.1 billion also topped forecasts.
- Streaming service Peacock posted its second consecutive profitable quarter, generating $261 million in adjusted EBITDA and reaching 48 million paid subscribers.
- The company lost 144,000 domestic broadband customers and 274,000 video subscribers, underscoring ongoing competitive pressure, while wireless added 368,000 lines.
- Studios delivered strong results, but theme parks weakened; free cash flow fell 14.8% to $4.2 billion as share buybacks remained paused ahead of a planned business separation.
Why These Results Matter at This Stage
Comcast’s third-quarter 2026 numbers land at an important inflection point. The Philadelphia-based media and technology company is in the midst of separating into two standalone public entities while also fending off competition in broadband from fiber and fixed-wireless providers. The report offers a useful check on whether its expanding streaming and wireless segments can counterbalance the steady erosion in traditional cable operations. In my view, the key areas to track remain Peacock’s path to ongoing profitability, wireless subscriber momentum, and the pace of broadband losses, all of which will influence the investment case for the two future companies.
The Quarter’s Reported Figures
Comcast posted third-quarter 2026 revenue of $29.3 billion, a 6.1% drop from the same period last year. The reported decline included the completed separation of its Versant business and the sale of Sky’s German operations; on a pro forma basis that excluded those items, revenue was essentially flat. Net income attributable to Comcast rose 3.5%, while adjusted net income fell 7.3%.
Adjusted EPS reached $1.07, down 4.0% year over year yet still ahead of the $0.98 consensus estimate. GAAP diluted EPS increased 7.2% to $0.97. Consolidated adjusted EBITDA totaled $9.1 billion, down 5.8% from a year earlier but above the roughly $8.9 billion analysts had projected.
Segment performance was mixed. Peacock revenue climbed 34% year over year to $1.8 billion and produced $261 million in adjusted EBITDA, a $478 million improvement from the prior-year loss, with paid subscribers rising 17% to 48 million. I also checked this using Tickeron’s AI Screener to see how the stock compares to others in the industry. Studios adjusted EBITDA increased 18.6% to $402 million, supported by titles such as The Odyssey. Theme Parks revenue declined 4.4% and adjusted EBITDA fell 17.1% to $780 million. In Connectivity & Platforms, domestic broadband revenue dropped 4.7% amid 144,000 subscriber losses, while wireless lines reached 10.6 million.
Market Response and Investor View
Comcast shares moved modestly higher in pre-market trading after the release, as the earnings beat and Peacock’s continued profitability helped balance concerns over broadband subscriber trends. Analysts had projected 133,000 domestic broadband losses, so the actual 144,000 figure came in slightly worse than expected. Wireless net additions of 368,000 also missed the roughly 392,000 lines analysts anticipated. Even so, adjusted EPS, revenue, and adjusted EBITDA all surpassed consensus, and the market appeared to reward the progress in streaming and studios. From what I see, the broader picture remains challenging: CMCSA shares had already declined significantly in 2026 heading into the report, and investors continue to weigh near-term competitive pressures against the longer-term potential of the planned separation.
Key Themes to Monitor Ahead
Looking forward, several areas stand out. Broadband stabilization is one focus. Comcast is redesigning its pricing, packaging, and customer offering, and management has indicated it expects a sizable restructuring charge in the fourth quarter as part of a broader cost transformation. Whether these steps slow subscriber losses will be central to the connectivity outlook.
Wireless remains an important growth driver. With roughly 18% penetration of domestic residential broadband customers, Comcast sees meaningful room to expand a capital-light mobile business that can also help reduce churn in the core broadband base.
The planned separation of NBCUniversal and Sky from the connectivity business, expected to close in mid-2027, continues to represent a major catalyst. The company has paused share repurchases through that process while maintaining its dividend.
Finally, it will be worth watching Peacock’s trajectory toward sustained profitability, the performance of the theme parks business—where management anticipates gradual improvement starting in the second half of 2027—and any changes in free cash flow generation, which underpins Comcast’s shareholder returns.
AI Tools That Support My Research
One resource I turn to when reviewing earnings reports like this one is Tickeron’s AI Screener. It helps me quickly filter stocks and ETFs using technical patterns, fundamentals, and performance metrics so I can compare opportunities across the sector without spending hours on manual screening.
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Contributor
Sergey Savastiouk, Ph.D. has a degree in Applied Mathematics from Moscow University and has extensive experience as an entrepreneur, investor, manager, and mathematician. His professional expertise is in applied mathematics, mathematical modeling, system and pattern analysis, and software and hardware system integration. He has served as the CEO of several hi-tech start-up companies and nonprofit organizations, which has given him proven capabilities in business strategy for high-tech start-up companies, market assessment, company formation, team building, product development, marketing, and sales. He has published numerous articles in journals and magazines on related fields. As a retail investor, he spent 15 years developing his proprietary trading and quantitative algorithms (now Tickeron’s A.I.), which brought him significant returns in trading the stock market. His current work and goal in founding Tickeron is to bring professional, sophisticated stock market analysis capabilities to retail investors via an easy-to-use interface.
CMCSA's MACD Histogram just turned positive
The Moving Average Convergence Divergence (MACD) for CMCSA turned positive on October 13, 2026. Looking at past instances where CMCSA's MACD turned positive, the stock continued to rise in 28 of 45 cases over the following month. The odds of a continued upward trend are 62%.
Technical Analysis (Indicators)
Bullish Trend Analysis
The RSI Oscillator points to a transition from a downward trend to an upward trend -- in cases where CMCSA's RSI Oscillator exited the oversold zone, 21 of 43 resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are 49%.
The Momentum Indicator moved above the 0 level on October 15, 2026. You may want to consider a long position or call options on CMCSA as a result. In 60 of 100 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are 60%.
Following a +4.04% 3-day Advance, the price is estimated to grow further. Considering data from situations where CMCSA advanced for three days, in 155 of 294 cases, the price rose further within the following month. The odds of a continued upward trend are 53%.
Bearish Trend Analysis
The Stochastic Oscillator has been in the overbought zone for 2 days. Expect a price pull-back in the near future.
The 10-day moving average for CMCSA crossed bearishly below the 50-day moving average on September 18, 2026. This indicates that the trend has shifted lower and could be considered a sell signal. In 9 of 13 past instances when the 10-day crossed below the 50-day, the stock continued to move higher over the following month. The odds of a continued downward trend are 69%.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where CMCSA declined for three days, the price rose further in 50 of 62 cases within the following month. The odds of a continued downward trend are 61%.
CMCSA broke above its upper Bollinger Band on October 20, 2026. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.
The Aroon Indicator for CMCSA entered a downward trend on October 20, 2026. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
Fundamental Analysis (Ratings)
The Tickeron PE Growth Rating for this company is 11 (best 1 - 100 worst), pointing to outstanding earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron Price Growth Rating for this company is 60 (best 1 - 100 worst), indicating steady price growth. CMCSA’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron SMR rating for this company is 64 (best 1 - 100 worst), indicating strong sales and a profitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron Valuation Rating of 92 (best 1 - 100 worst) indicates that the company is significantly overvalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (0.873) is normal, around the industry mean (1.864). P/E Ratio (7.054) is within average values for comparable stocks, (-3.740). CMCSA's Projected Growth (PEG Ratio) (138.924) is very high in comparison to the industry average of (8.005). Dividend Yield (0.060) settles around the average of (0.112) among similar stocks. P/S Ratio (0.689) is also within normal values, averaging (5.777).
The Tickeron Profit vs. Risk Rating rating for this company is 100 (best 1 - 100 worst), indicating that the returns do not compensate for the risks. CMCSA’s unstable profits reported over time resulted in significant Drawdowns within these last five years. A stable profit reduces stock drawdown and volatility. The average Profit vs. Risk Rating rating for the industry is 83, placing this stock worse than average.
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General Information
a provider of entertainment, information and communications products and services
Industry MajorTelecommunications
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