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Comcast

CMCSA · Communication Services

Last earnings Oct 22, 2026

Key results

Revenuequarter

19%

The early success of Epic Universe contributed to 19% revenue growth at our Theme Parks, reflecting the strength of our newest attractions and the enduring appeal of the Universal brand.

SEC original ↗Comcast — Earnings release (8-K exhibit)EX-99Oct 30, 2025

Free cash flowQ3 2025

$4.9 billion

We generated $4.9 billion of free cash flow this quarter and $14.9 billion year-to-date despite significant investment we're making in repositioning our company, a testament to both the durability and resilience of our underlying business.

SEC original ↗Comcast — Earnings release (8-K exhibit)EX-99Oct 30, 2025

Free cash flowytd

$14.9 billion

We generated $4.9 billion of free cash flow this quarter and $14.9 billion year-to-date despite significant investment we're making in repositioning our company, a testament to both the durability and resilience of our underlying business.

SEC original ↗Comcast — Earnings release (8-K exhibit)EX-99Oct 30, 2025

Dividendquarter

$1.5 Billion

Free Cash Flow of $4.9 Billion Returned $2.8 Billion to Shareholders Through a Combination of $1.2 Billion in Dividend Payments and $1.5 Billion in Share Repurchases, Reducing Shares Outstanding by 5% Compared to the

SEC original ↗Comcast — Earnings release (8-K exhibit)EX-99Oct 30, 2025

Connectivity revenuequarter

4.2%

Connectivity Revenue Increased 4.2% to $11.5 Billion, Primarily Reflecting Growth in Domestic Wireless, International Connectivity and Business Services Connectivity Continued to Invest in Our New Go-to-Market Strategy and Tactics

SEC original ↗Comcast — Earnings release (8-K exhibit)EX-99Oct 30, 2025

Business Services Connectivity revenuequarter

6.2%

Lines Business Services Connectivity Revenue Increased 6.2% to $2.6 Billion, EBITDA Increased 4.5% to $1.5 Billion and

SEC original ↗Comcast — Earnings release (8-K exhibit)EX-99Oct 30, 2025

Revenue decreased 2.7% reflecting an unfavorable comparison to the prior year period, which included incremental revenue from the Paris Olympics.

SEC original ↗Comcast — Earnings release (8-K exhibit)EX-99Oct 30, 2025

Net incomequarter

8.2%

Net Income Attributable to Comcast decreased 8.2%.

SEC original ↗Comcast — Earnings release (8-K exhibit)EX-99Oct 30, 2025

Adjusted net incomequarter

4.9%

Adjusted Net Income decreased 4.9%.

SEC original ↗Comcast — Earnings release (8-K exhibit)EX-99Oct 30, 2025

AI analysis

Q3 2025 · reported Oct 30, 2025

Based on: Earnings release + parent 8-K + 10-Q — transcript not held

Free cash flow · Q3 2025
$4.9B
EX-99 · Oct 30, 2025
Dividend · Q3 2025
$1.5B
EX-99 · Oct 30, 2025

Headline figures

MetricQ3 2025Prior qtrYear ago
Revenue19%——
Free cash flow$4.9 billion——
Dividend$1.5 Billion——
Connectivity revenue4.2%——
Business Services Connectivity revenue6.2%——
Net income8.2%——
Adjusted net income4.9%——

EX-99 · Oct 30, 2025

Guidance · company-stated

No guidance located in the held release

Next earningsNo verified date on fileNo date is estimated or imported

Cash flow & capex

Free cash flow$4.9B
Free cash flow$14.9B

Capital allocation

Capex5.4%
Connectivity Platforms capex19.5%
Content Experiences' capex19.9%
Dividend$1.2B

Capital Expenditures increased 5.4% to $3.1 billion.

General educational research only — not investment advice.Every figure is as stated in the held documents; values marked “computed from stated figures” are arithmetic on those stated figures. Guidance shown is the company’s own stated guidance. No price targets, no recommendations, no consensus estimates.

Event summary

Comcast Q3 2025 — The early success of Epic Universe contributed to 19% revenue growth at our Theme Parks, reflecting the strength of our newest attractions and the enduring appeal of the Universal brand.

Based on: Earnings release + parent 8-K + 10-Q — transcript not held

Guidance & outlook

No guidance located in the held release

Capital allocation

Capital Expenditures increased 5.4% to $3.1 billion.

SEC original ↗Comcast — Earnings release (8-K exhibit)EX-99Oct 30, 2025

Connectivity Platforms capital expenditures increased 19.5% to $2.3 billion, primarily reflecting higher spending on scalable infrastructure and customer premise equipment.

SEC original ↗Comcast — Earnings release (8-K exhibit)EX-99Oct 30, 2025

Content Experiences' capital expenditures decreased 19.9% to $714 million, reflecting the opening of Epic Universe in May 2025.

SEC original ↗Comcast — Earnings release (8-K exhibit)EX-99Oct 30, 2025

Dividends and Share Repurchases.

SEC original ↗Comcast — Earnings release (8-K exhibit)EX-99Oct 30, 2025

Comcast paid dividends totaling $1.2 billion and repurchased 46.0 million of its shares for $1.5 billion, resulting in a total return of capital to shareholders of $2.8 billion.

SEC original ↗Comcast — Earnings release (8-K exhibit)EX-99Oct 30, 2025

4 We define Free Cash Flow as net cash provided by operating activities (as stated in our Consolidated Statement of Cash Flows) reduced by capital expenditures and cash paid for intangible assets.

SEC original ↗Comcast — Earnings release (8-K exhibit)EX-99Oct 30, 2025

Strategy & priorities

Residential Connectivity Platforms revenue and Adjusted EBITDA reflect the investment in our new go-to-market strategy.

SEC original ↗Comcast — Earnings release (8-K exhibit)EX-99Oct 30, 2025

Headquarters Other Content Experiences Headquarters Other includes overhead, personnel costs and costs associated with corporate initiatives.

SEC original ↗Comcast — Earnings release (8-K exhibit)EX-99Oct 30, 2025

Transaction-related costs are incremental costs incurred in anticipation of the separation, including costs that reflect strategic decisions about how the standalone Versant business will be structured or operated, which may be different than if it remained part of Comcast.

SEC original ↗Comcast — Earnings release (8-K exhibit)EX-99Oct 30, 2025

Exhibit 99.2 - Explanation of Non-GAAP and Other Financial Measures, cont d Free Cash Flow Free Cash Flow is a non-GAAP financial measure that we believe provides a meaningful measure of liquidity and a useful basis for assessing our ability to repay debt, make strategic acquisitions and investments, and return capital to investors through stock repurchases and dividends.

SEC original ↗Comcast — Earnings release (8-K exhibit)EX-99Oct 30, 2025

These forward-looking statements are generally identified by words such as believe, project, expect, anticipate, estimate, intend, potential, strategy, future, opportunity, commit, plan, goal, may, should, could, would, will, continue, will likely result and similar expressions.

SEC original ↗Comcast — 10-Q Quarterly report10-QOct 22, 2026

Risks & headwinds

In evaluating these statements, readers should consider various factors, including the risks and uncertainties we describe in the Risk Factors sections of our most recent Annual Report on Form 10-K, our most recent Quarterly Report on Form 10-Q and other reports filed with the Securities and Exchange Commission (SEC).

SEC original ↗Comcast — Earnings release (8-K exhibit)EX-99Oct 30, 2025

Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date they are made, and involve risks and uncertainties that could cause actual events or our actual results to differ materially from those expressed in any such forward-looking statements.

SEC original ↗Comcast — Earnings release (8-K exhibit)EX-99Oct 30, 2025

Legal Proceedings 38 Item 1A.

SEC original ↗Comcast — 10-Q Quarterly report10-QOct 22, 2026

These may include estimates, projections and statements relating to our business plans, objectives and expected operating results, which are based on current expectations and assumptions that are subject to risks and uncertainties that may cause actual results to differ materially.

SEC original ↗Comcast — 10-Q Quarterly report10-QOct 22, 2026

In evaluating these statements, you should consider various factors, including the risks and uncertainties we describe in the Risk Factors sections of our Forms 10-K and 10-Q and in other reports we file with the SEC.

SEC original ↗Comcast — 10-Q Quarterly report10-QOct 22, 2026

Any of these factors could cause our actual results to differ materially from those expressed or implied by our forward-looking statements, which could adversely affect our businesses, results of operations or financial condition.

SEC original ↗Comcast — 10-Q Quarterly report10-QOct 22, 2026

Competitors

Competitors & peers

Named in the company’s own filings

Universal Corp (UVV)“We have invested and expect to continue to invest significantly in existing and new theme park attractions, hotels and infrastructure, as well as in new destinations and experiences, such as Universal Horror Unleashed, a year-round horror entertainment experience with locations in Las Vegas, Nevada, which opened in August 2025, and in Chicago, Illinois, expected to open in 2027; Universal Kids Res”
Documents

Filings

67 documents

Earnings releases

33 documents

Presentations

0 documents

No presentations for Comcast are held in this edition of the library.

Transcripts

0 documents

No transcripts for Comcast are held in this edition of the library.

Mentioned by

8 companies

Other tracked companies whose held documents mention Comcast by name or ticker. A mention is counted once per document, from the document text the library holds.

See also the earnings calendar for every tracked company’s next earnings date.