By George Glover

Comcast stock is on a bad run. Any rebound hinges on if the cable and entertainment company can shift the narrative on its ailing broadband business when it reports before Thursday's opening bell.

Analysts are expecting the NBCUniversal parent to post adjusted earnings of 73 cents a share and revenue of $32.3 billion, according to a FactSet poll.

For the same period a year ago, Comcast reported adjusted earnings of $1.12 a share on revenue of $31.2 billion.

But the top and bottom line probably won't matter if Comcast reports that it lost more customers than expected from its broadband business. Wall Street is forecasting a net loss of 176,000 broadband subscribers.

The stock slumped 20% last year, with broadband subscriber losses overshadowing everything else. Comcast makes the bulk of its earnings and revenue from its cable business, so slowing growth for that segment is a major concern for investors.

Comcast has cut some of its prices in a bid to stop bleeding subscribers, but that could still weigh on the stock. Wolfe Research analyst Peter Supino expects revenue for Comcast's connectivity and platforms division to drop 1.8% over the fourth quarter.

He noted that the major concern is that Comcast and its rival Charter Communications are willing to "sacrifice price to defend their footprint, " which could drag down average revenue per user for both companies.

Still, there's reason to think that the shares are now undervalued. Barron's in December named Comcast as one of its 10 stocks to buy for this year, touting a cheap valuation based on projected 2026 earnings.

Write to George Glover at george.glover@dowjones.com

This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.

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January 28, 2026 11:35 ET (16:35 GMT)

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