Comcast

Comcast exceeded analyst expectations for Q3 with adjusted EPS of $1.07 and revenue of $29.3 billion, driven by a 13% rise in media revenue to $5.4 billion. Peacock reached profitability for the second quarter, aided by record World Cup viewership, while overall content and experiences revenue rose 6.5%. The connectivity and platforms segment pressured results with broadband and cable subscriber losses, and theme parks saw revenue and adjusted EBITDA decline. Comcast is moving forward with a planned spin-off of its media assets into a separate publicly traded company. » More on cnbc.com

At the Goldman Sachs conference Comcast announced plans to divide into a connectivity and technology company (Comcast) and a content and experiences company (NBCUniversal and Sky) to enable more focused strategies and stronger balance sheets for both units. CFO Jason Armstrong stressed that near-term investments in network modernization, wireless and the customer experience will weigh on 2026 results, but will create long-term opportunities in broadband, wireless, business services, Peacock and theme parks. The company sees intensified competition from fiber, fixed wireless and satellites, but believes there is room to expand its coaxial network and significant mobile growth potential given only 7% penetration in its service area. » More on de.investing.com

Comcast shares fell about 7% after comments from CFO Jason Armstrong, who said at the Goldman Sachs conference that price competition in fiber broadband is "irrational" and does not expect subscriber losses to improve in the third quarter. Despite subscriber pressure, Comcast forecasts a moderate improvement in EBITDA performance in Q3. KeyBanc warns of further downside risks and estimates the net loss for the quarter to be significantly higher than consensus, noting competitors are offering gigabit packages for $30–40. » More on de.investing.com