# Comcast’s Q3 Report Will Test Broadband Strategy and Margins

By John Kim

Canonical URL: https://www.tokenpost.com/news/business/37348
Published: 2026-10-22T02:36:03.000Z
Updated: 2026-10-22T02:36:03.000Z
Section: Business

> CFO Jason Armstrong expects broadband losses to improve for the full year, but not year over year in Q3. The residential segment’s margin fell to 37.7% in Q2.

Comcast’s third-quarter report, scheduled before U.S. markets open Thursday, Oct. 22, will put its broadband pricing strategy and residential profitability under scrutiny after second-quarter broadband revenue and segment adjusted EBITDA declined. Comcast plans to release results earlier that morning and hold a conference call at 8:30 a.m. ET (12:30 UTC).

Comcast CFO Jason Armstrong said Sept. 9 he did not expect broadband losses to improve year over year in Q3. He did expect full-year broadband losses to improve and forecast sequential gains in broadband average revenue per user (ARPU) and the EBITDA trajectory beginning in Q3. “This particular quarter, I don’t think we’ll improve year over year,” Armstrong said.

Comcast recorded 167,000 net losses in domestic residential broadband customers in Q2, ended June 30, compared with 201,000 in the same quarter of 2025. The company ended Q2 with 28.486 million domestic residential broadband customers, down from 28.989 million a year earlier. Domestic broadband revenue fell 5.5% to $6.280 billion as lower average rates and fewer customers weighed on the total.

At the company level, Q2 revenue was $29.940 billion, down 1.2%. Adjusted EBITDA fell 13.4% to $8.902 billion, and adjusted earnings per share declined 16.7% to $1.04.

The Residential Connectivity & Platforms segment posted adjusted EBITDA of $6.448 billion, down 8% year over year. Its adjusted EBITDA margin fell to 37.7% from 39.3%, a 160-basis-point decline. These are segment figures, not broadband-only results.

Armstrong said investments in broadband pricing and packaging were temporarily pressuring EBITDA and diluting broadband ARPU, including through free wireless lines in bundles. Domestic wireless added 448,000 lines in Q2, ending the quarter at 10.187 million. In July, Comcast co-CEOs Brian L. Roberts and Mike Cavanagh said the company’s strategic broadband pivot was “gaining traction.”

The Q3 results will show how the company’s broadband and residential segment measures changed during the quarter. Comcast’s earnings call is scheduled for 8:30 a.m. ET (12:30 UTC) on Oct. 22.