Comcast exceeded Wall Street’s expectations for earnings and revenue in the third quarter, despite losing 104,000 broadband customers, totaling 31.4 million. The company has struggled to grow its broadband base for four consecutive quarters, facing competition from 5G providers. Comcast’s business, including Xfinity and NBCUniversal, outperformed estimates, with shares rising 2.5%.

In the quarter ended Sept. 30, Comcast reported a 8% decrease in net income to $3.33 billion, or 90 cents per share. Adjusted earnings per share were $1.12, with revenue falling nearly 3% to $31.2 billion. The company’s connectivity and platforms business revenue was $20.18 billion, down nearly 1% from last year.

Comcast added a record 414,000 mobile customers, totaling 8.9 million lines, as cable companies focus on mobile growth amid broadband subscriber declines. The pay TV segment lost 257,000 customers. NBCUniversal’s cable TV networks, including CNBC, are set to be spun off by the end of the year. The media unit revenue was $6.6 billion, down almost 20%.

Peacock, NBCUniversal’s streaming service, had 41 million subscribers and reported $217 million in losses for the quarter, improving from last year. The addition of the NBA to Peacock is expected to boost growth. The film studio revenue increased 6% to $3 billion, while theme park revenue rose nearly 19% to $2.72 billion, driven by the opening of Epic Universe in May.

Read more at CNBC: Comcast (CMCSA) earnings Q3 2025