Comcast (CMCSA) will report third-quarter results before market open on Thursday, October 30th, with investors watching for updates on its media spinoff plans, theme park strength, and streaming growth amid a challenging advertising and broadband environment.
Wall Street expects earnings of $1.10 per share (-1.8% Y/Y), on revenue of $30.68B (-4.3% Y/Y).
The Philadelphia-based media and technology giant, recently secured NBA broadcasting rights under a massive $76B media agreement and launched a bundle pairing Peacock with Apple TV. It is also expanding its European footprint through a WiFi partnership with Deutsche Telekom and preparing a spinoff of parts of its news portfolio after job cuts at NBC News.
In the second quarter, Comcast beat earnings estimates but faced continued broadband and video subscriber losses while advancing its Versant spinoff plans.
An analyst said the Versant Media spinoff will help Comcast focus on faster-growing segments like streaming and broadband and positions Comcast for a leaner, more growth-oriented future aligned with digital trends.
At the same time, Comcast is refreshing its leadership and deepening its streaming reach. Michael Cavanagh has been named co-CEO effective January 2026, while Peacock raised prices and struck new partnerships with Walmart+, YouTube, and Amazon Prime. The moves come as NBCUniversal continues to jostle for position in the crowded media and streaming landscape.
While KeyBanc Capital Markets said, Comcast’s theme parks gained momentum in the third quarter, outperforming Disney’s slower results. Visitor levels remained stable through September, helped by new attractions, favorable weather, and strong visitor trends at Universal Orlando and Hollywood. The parks also saw benefits from more international tourists and higher guest spending, making the segment a key driver of growth ahead of the company’s quarterly earnings.
Over the last two years, CMCSA has beaten EPS estimates 100% of the time and has beaten revenue estimates 88% of the time.
In the last three months, EPS estimates have seen seven upward revisions and 10 downward. Revenue estimates have seen 10 upward revisions and nine downward.
Comcast shares are down 22.2% year-to-date and have slipped 7.42% over the past month.