MW Comcast sheds more internet subscribers but hits a record in its wireless business

By Emily Bary

Comcast didn't lose as many broadband subscribers as Wall Street feared but still faces competitive pressures

Comcast has been growing its wireless business while facing subscriber pressure in its broadband business.

Comcast Corp. is still shedding broadband subscribers, but not as many as Wall Street feared.

The media and telecommunications giant on Thursday reported a net loss of 104,000 domestic internet customers for the third quarter, reflecting losses of 91,000 in its residential segment and 13,000 in its business segment. Analysts tracked by FactSet were expecting 143,000 domestic broadband net losses on average, versus 226,000 in the second quarter.

On an absolute basis, the subscriber losses pale in comparison to the size of Comcast's $(CMCSA)$ broadband base, which stood at 31.4 million subscribers in the third quarter. But since broadband is a major contributor to Comcast's profit, subscriber trends generate outsize attention.

That's especially been true in a tough competitive climate. Wireless companies like AT&T Inc. $(T)$ and Verizon Communications Inc. $(VZ)$ have been betting big on fiber offerings that have resonated with customers. And fixed-wireless-access services from Verizon and T-Mobile US Inc. $(TMUS)$ are clicking as well. Together, those technologies have become persistent thorns in Comcast's side, and a reason for sustained subscriber losses.

The issue has weighed on Comcast's stock, which is down 24% so far this year, while the S&P 500 SPX has advanced 17%. The stock is up 2% in Thursday's premarket action.

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Comcast is also losing video subscribers - a net of 257,000 in the third quarter - but it's been making inroads in wireless. The company is a mobile virtual network operator that leverages Verizon's network but is the face of plans sold to customers. Comcast added 414,000 net wireless lines in the third quarter and offers bundled deals to customers who use its other connectivity services. The company said the wireless figure was its best quarterly result on record.

On a financial basis, Comcast topped expectations in the latest quarter. It posted $31.2 billion in revenue, above the FactSet consensus of $30.7 billion, along with $1.12 in adjusted earnings per share. Analysts had been looking for $1.10 in adjusted EPS.

Comcast's theme-park business generated $2.7 billion in revenue, with CEO Brian Roberts calling out "the early success of Epic Universe" and "the enduring appeal of the Universal brand."

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-Emily Bary

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October 30, 2025 07:18 ET (11:18 GMT)

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