CMCSA · Earnings call · 2026Q3T · Full report

Operating Income and Margins

COMCAST CORP · 2026-10-22 · Importance 51 · Surprise 64

Connectivity & Platforms EBITDA declined 4.4% year over year, with the rate of decline narrowing by 140 basis points from the prior quarter. Media EBITDA increased by more than $500 million to $769 million, including $261 million from Peacock. Studios EBITDA grew 19%, supported by a 77% increase in theatrical revenue. Theme parks EBITDA declined 17%, primarily reflecting continued pressure in Orlando and Japan.

Key facts

• Year-over-year declines in convergence ARPA and broadband ARPU narrowed sequentially by 190 basis points, respectively, while Connectivity & Platforms EBITDA decline narrowed by 140 basis points.
• Comcast's Connectivity & Platforms revenue declined 2.6% and EBITDA declined 4.4% as investments in go-to-market changes pressured near-term results.