Comcast Earnings Top Expectations. The Stock Is Falling Anyway.
Oct 30, 2025 07:37:00 -0400 by George Glover | #Telecom #Earnings Report
Comcast reported its third-quarter earnings ahead of Thursday’s opening bell. (Dreamstime)
Key Points
- Comcast shares fell 6.7% despite exceeding third-quarter earnings and revenue targets.
- The company lost 104,000 broadband customers, fewer than the 143,000 expected by Wall Street.
- Theme-park earnings before interest, taxes, depreciation and amortization rose 13% to $958 million.
Comcast stock was sliding on Thursday, even though the cable and entertainment company delivered on three key metrics—it topped Wall Street’s earnings and revenue targets and said that its faltering broadband business had lost fewer customers than expected.
Shares dropped 6.7% to $26.61 in early trading. The S&P 500 was 0.8% lower.
The move came after Comcast reported third-quarter adjusted earnings of $1.12 a share, as revenue slipped 2.7% from a year ago to $31.2 billion. Analysts were expecting adjusted earnings of $1.10 a share on revenue of $30.7 billion, according to a FactSet poll.
The company lost 104,000 broadband customers in total over the quarter, beating expectations. Wall Street was forecasting that 143,000 customers would exit their contracts.
Theme-park earnings before interest, taxes, depreciation and amortization climbed 13% from a year ago to $958 million over the first full quarter of operation for Epic Universe, the new park that the NBCUniversal parent opened in Orlando back in May.
It wasn’t immediately clear what was driving the selloff in shares on Thursday. Revenue for Comcast’s media division tumbled 20% from a year ago to $6.6 billion, although that was expected, because revenue got a major one-off boost over the third quarter of 2024 due to the Paris Olympics.
As of Wednesday’s close, Comcast stock was down 24% this year, dropping as investors fret about tumbling broadband subscriber numbers, as well as the potential impact that slowing consumer spending could have on theme-park attendance.
Write to George Glover at george.glover@dowjones.com