What kind of business tightrope are media companies walking in 2026? Comcast generated an extra $2.2 billion due to NBC’s February telecasts of the Winter Olympics from Milan Cortina and the Super Bowl. And yet, the cable-and-content giant said profit fell 35.6% as it invested in upgrades to its crucial cable and broadband business.
The Philadelphia owner of NBCUniversal said net income fell nearly 36% to $2.17 billion, or 60 cents per share, compared to $3.38 billion, or 89 cents a share, in the year-earlier period. Adjusting for one-time items, Comcast said earnings per share came to 79 cents.
Revenue hiked about 5% to $31.46 billion for the quarter.
Comcast said capital expenditures increased 4.4% to $2.4 billion, including $1.8 billion for investments in its cable operations.
Comcast was able to make improvements in its large cable operation, narrowing losses of broadband consumers. The company said broadband losses totaled 65,000, compared with 183,000 losses in the same period last year. Comcast has made broadband competition a bigger priority in recent months. Comcast also added 435,000 new mobile lines during the quarter, increasing its mobile customer base to 9.7 million mobile customers. Comcast said cable TV customers losses narrowed to 322.000, compared with 427,000 in the year-earlier period.
Overall, revenue from cable and other connectivity services fell 2% to $17.32 billion.
More to come…
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