Comcast CMCSA is scheduled to report its third-quarter 2026 results on Oct. 22.
The Zacks Consensus Estimate for third-quarter earnings is pegged at 98 cents per share, down by a penny over the past 30 days. The figure indicates a 12.5% decrease from the year-ago quarter’s reported figure.
The consensus mark for revenues is pegged at $29.35 billion, indicating a 5.92% decrease from the year-ago quarter’s reported figure.
CMCSA’s earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, delivering an average surprise of 7.32%.
Let us see how things are shaping up for the upcoming announcement.
Comcast Corporation Price and EPS Surprise
Comcast Corporation price-eps-surprise | Comcast Corporation Quote
Factors to Consider
The quarter is likely to have reflected a business in transition, with connectivity pressure and softer theme park demand weighing on gains in streaming and film. Comparisons are expected to have been clouded by the May 31 sale of Sky’s German operations and the planned tax-free spin-off of NBCUniversal and Sky, announced on June 29.
Connectivity & Platforms is expected to have remained the key drag. In the second quarter, domestic broadband revenues fell 5.5% as Comcast held rates steady and migrated customers to lower price points, while Residential EBITDA margin contracted 160 basis points to 37.7%. Management guided for only modest improvement from the third quarter as free wireless lines converted to paying relationships, implying broadband revenues likely stayed under pressure. Wireless momentum, after a record 448,000 line additions, is expected to have continued, though free-line promotions are likely to have diluted revenue per line. Business Services, which grew revenues 3.7% last quarter, is expected to have offered support, aided by network expansions such as multi-gigabit availability in Beaufort and Edisto, SC, in September.
In Media, Peacock is likely to have benefited from price increases of $1-$3 per month across plans, effective Aug. 18 for new subscribers, alongside the August beta launch of a membership rewards program. However, Peacock’s maiden $189 million second-quarter profit was aided by the FIFA World Cup, which added $440 million of incremental Media revenues, and the event’s July conclusion is likely to have tempered growth.
Studios is expected to have been a bright spot. Universal became the first studio to cross $4 billion in 2026 global box office by August, powered by The Odyssey , Christopher Nolan’s biggest opening ever, and Minions & Monsters , which debuted at No. 1. Higher marketing and production costs are likely to have partly offset these gains.
Theme Parks is likely to have stayed soft, as Orlando attendance weakened in June and remained pressured into the third quarter, while Osaka faced travel headwinds. Universal Kids Resort, opened July 1 in Frisco, TX, is expected to have added revenues but also start-up costs.
Capital expenditures are expected to have stayed elevated after rising 8.3% to $2.9 billion last quarter, with Connectivity & Platforms spending up 19.9%, pressuring free cash flow. The buyback pause announced on June 29 is likely to have limited earnings support.
What Our Model Says
According to the Zacks model, the combination of a positive Earnings ESP and Zacks Rank #1 (Strong Buy), 2 (Buy), or 3 (Hold) increases the odds of an earnings beat. But that is not the case here.
Comcast currently has an Earnings ESP of -0.09% and a Zacks Rank #5 (Strong Sell). You can uncover the best stocks to buy or sell before they are reported with our Earnings ESP Filter.
Stocks to Consider
Here are some stocks worth considering, as our model shows that these have the right combination of elements to beat on earnings this reporting cycle.
PEOPLES BANCORP PEBO has an Earnings ESP of +1.09% and sports a Zacks Rank #1 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
PEOPLES BANCORP shares have gained 22.3% year to date. PEOPLES BANCORP is scheduled to report its third-quarter 2026 results on Oct. 20.
ATI INC ATI has an Earnings ESP of +1.09% and sports a Zacks Rank #1.
ASE Technology shares have surged 61.7% year to date. ATI INC is set to report its third-quarter 2026 results on Oct. 29.
BP BP has an Earnings ESP of +7.29% and flaunts a Zacks Rank #1 at present.
BP shares have gained 44.6% in the year-to-date period. BP is set to report third-quarter 2026 results on Oct. 30.
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Comcast Corporation (CMCSA): Free Stock Analysis Report
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