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Lower amortization, not leaner operations, lifted the margin

Operating margin rose 0.42 points to 18.2%, but amortization alone fell 0.86 points of revenue after Versant left, so other costs took a larger share.

Q3 FY2026, the quarter to Sep 30, 2026 · 10-Q filed Oct 22, 2026

Q3 FY2026 · revenue
$29.3B-6.1% on the year
Operating margin
18.2%
Net income
$3.4B
Free cash flow, quarter
$4.8B
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Key insights · Q3 FY2026
  1. 01

    Lower amortization, not leaner operations, lifted the margin

    Operating margin rose 0.42 points to 18.2%, but amortization alone fell 0.86 points of revenue after Versant left, so other costs took a larger share.

    Why it matters

    Revenue fell 6.1% to $29.3B and total costs fell 6.6% to $24.0B, so operating income fell 3.9% to $5.3B while the operating margin rose to 18.2% from 17.7%. Amortization fell 21.1% to $1.3B, its share of revenue down 0.86 points to 4.5%. The filing ties the drop to "lower amortization of customer relationships and other agreements and rights due to the Versant Separation."1

    The other cost lines moved the other way on balance. Programming and production fell 13.2% to $7.5B, 2.09 points less of revenue at 25.7%. But other operating and administrative expense fell only 1.4%, rising 1.73 points to 36.3% of revenue; depreciation rose 1.4% to $2.4B, up 0.6 points to 8.1%; and marketing and promotion rose 0.19 points to 7.2%. Together those offset the programming saving and a little more.1

    AnalysisAnalysis: amortization is an accounting charge for assets acquired or built in earlier years and uses no cash in the quarter, so a margin gain built on it says little about how the operations are running. Excluding it, costs took a slightly larger share of revenue than a year earlier. Programming fell with the businesses that left the group, while the cost of running the network, serving customers and operating the parks held up.

    The comparison is not like for like. The year-earlier quarter includes Versant and the Sky operations in Germany, both now gone, and the filing attributes the fall in costs primarily to those two changes and to a decrease in Connectivity & Platforms, "partially offset by an increase in the Content & Experiences business."1

  2. 02

    Lower interest and tax turned falling profit into growth

    Operating income fell 3.9%, yet net income attributable to Comcast rose 3.5% to $3.45B, because interest expense fell 14.7% and tax expense 11.0%.

    Why it matters

    Interest expense fell to $962M from $1,128M, which the filing attributes to "a decrease in average debt outstanding." Interest took 18.1% of operating income, against 20.4% a year earlier. Investment and other income added $88M, against $61M.1

    Income tax expense fell to $1,084M from $1,218M, an effective rate of 24.4% of pre-tax income against 27.3% a year earlier. The filing attributes the decrease "primarily" to "the timing and amount of third-party transferable tax credit purchases." Diluted earnings per share rose to $0.97 from $0.90, helped also by fewer shares outstanding.1

    AnalysisAnalysis: the two supports differ in durability. Lower interest follows from debt already repaid, and with the share buyback suspended for the spin-off, more cash is free for repayment. The tax saving rests, in the filing's own words, on the timing and amount of credit purchases, so it need not recur in the same pattern in later quarters.

  3. 03

    A fixed network now serves a smaller share of homes

    Broadband penetration fell to 47.5% of homes passed from 49.3%, while consolidated depreciation rose 1.4%: the network's costs stay as paying homes thin out.

    Why it matters

    Residential Connectivity & Platforms brought in $17.0B, 58.1% of revenue, and Business Services Connectivity $2.6B, 9.0%, both on a shared network. Domestic broadband penetration, broadband customers divided by residential passings, was 47.5%, against 49.3% a year earlier. The filing says broadband revenue fell "due to decreases in average rates and declines in the number of domestic broadband customers."1

    Consolidated depreciation rose 1.4% to $2.4B while revenue fell 6.1%, lifting it 0.6 points to 8.1% of revenue. Capital spending was $3.1B, 10.4% of revenue. The filing says the company continues "to invest in our network to support higher-speed broadband offerings and to expand the number of residential and business passings."1

    AnalysisAnalysis: penetration can fall from either side, fewer customers or more homes passed, and here both are happening, since the company is extending its reach while losing broadband customers. In a network business most cost does not move with the customer count, so a home lost takes revenue with little cost relief, and a home won inside the existing footprint adds revenue at little added cost.

    The filing describes the response: simpler broadband pricing and a free wireless line for new and existing broadband customers, which it expects "will improve customer retention" but "will negatively impact average domestic broadband revenue per customer." It adds that customer relationship net additions "continue to be negatively impacted by an increasingly competitive environment."1

  4. 04

    Capital spending holds steady as operating cash flow shrinks

    Capital spending stayed at $3.1B while operating cash flow fell to $7.9B from $8.7B, so free cash flow dropped to $4.8B from $5.6B.

    Why it matters

    Capital spending took 38.7% of operating cash flow in the quarter, against 35.3% a year earlier, and equaled 10.4% of revenue. Free cash flow was still 16.5% of revenue and exceeded net income attributable to Comcast, because depreciation and amortization reduce profit without using cash.1

    For the nine months, the filing says capital expenditures rose "primarily due to increased spending by the Connectivity & Platforms businesses," mainly "on customer premise equipment and scalable infrastructure," partly offset by lower Content & Experiences spending after the opening of Epic Universe.1

    AnalysisAnalysis: the year-earlier quarter still contained Versant, so part of the fall in operating cash flow reflects a smaller company rather than weaker operations. The point to follow is whether capital spending eases as a share of operating cash flow once network upgrades and the separation work settle, or keeps rising while the kept businesses shrink.

Sources

  1. 1.Comcast 10-Q for the period to 2026-09-30 (the filing), Oct 22, 2026, read Nov 2, 2026

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Business performance

Growth, profit and margin

Revenue went from $31.1B in FY2007 to $123.7B in FY2025, the operating margin from 18.0% to 16.7%, over 18 years.

  • Revenue$123.7B
  • Operating income$20.7B
  • Operating margin16.7%
Period
Q3 FY2026
Revenue
$29.3B
Operating income
$5.3B
Operating margin
18.2%
Net income
$3.4B
Free cash flow
$4.8B
Business performance

Does the profit turn into cash?

Q3 FY2026: free cash flow of $4.8B against net income of $3.4B in the quarter.

  • Operating cash flow$33.6B
  • Capital expenditure$11.8B
  • Free cash flow$21.9B
  • Net income$20.0B

Capital expenditure is drawn below the axis as cash out. Cash conversion is operating cash flow over net income, shown in the tooltip for years with a profit.

Financial data and sources

How the revenue mix has shifted

Each breakdown the filing reports, as shares of revenue, for every period it restates.

Segment Information - Schedule of Segment Information (Details). The filing restates this breakdown for 1 period.

Click a member to isolate it across the years shown.

The figures

Margins, cash and growth for the period, each with what it was computed from.

Gross margin
Not reported
the company reports expenses by nature: no cost of revenue or gross profit line exists
Operating margin
18.2%
Source10-Q, Derived from Operating income and Revenue in the 10-Q filed 2026-10-22
Net margin
11.8%
Source10-Q, Derived from Net income attributable to Comcast Corporation and Revenue in the 10-Q filed 2026-10-22
Free cash flow, quarter
$4.8B
Source10-Q, Derived from the prior period in the history in the 10-Q filed 2026-10-22
Free cash flow margin, quarter
16.5%
Source10-Q, Derived from the prior period in the history in the 10-Q filed 2026-10-22
Cash conversion, quarter
2.29x
Source10-Q, Derived from the prior period in the history in the 10-Q filed 2026-10-22
Capital spending, quarter
10.4%
Source10-Q, Derived from the prior period in the history in the 10-Q filed 2026-10-22
Revenue growth
-6.1%
From the record's own history, against the prior year.

Not reported, or not derivable

  • gross margin: the company reports expenses by nature: no cost of revenue or gross profit line exists

Where revenue comes from

Every breakdown the filing reports for the period, with each item's share.

Segments

Total Residential Connectivity & Platforms Segment$17.0B58.1%
Total Media Segment$5.4B18.3%
Total Studios Segment$3.0B10.1%
Total Business Services Connectivity Segment$2.6B9.0%
Total Theme Parks Segment$2.6B8.9%

These items do not sum to total revenue; the filing states them beside it. Source10-Q, us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax, as reported in the 10-Q filed 2026-10-22

ConsolidationItems

Operating Segments$30.6B104.4%
Headquarters/Corporate and Other$355.0M1.2%
Eliminations-$1.6B-5.6%

Source10-Q, us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax, as reported in the 10-Q filed 2026-10-22

What it costs

The cost lines beneath operating income, each as a share of revenue, then the operating result.

Costs are reported by nature: what they are (food, labor, occupancy, personnel, marketing), not what they were for, so there is no cost-of-revenue line and no gross profit.

Cost lineQ3 FY2026Of revenueSource
Total costs and expenses$24.0B81.8%Source10-Q, us-gaap:CostsAndExpenses, as reported in the 10-Q filed 2026-10-22
Operating income$5.3B18.2%Source10-Q, us-gaap:OperatingIncomeLoss, as reported in the 10-Q filed 2026-10-22

Operating figures the company states

From the text of the filing rather than its statements, each with the sentence that states it.

Domestic broadband penetration of residential passings
47.5%
As of Sep 30, 2026
View source
Domestic broadband residential penetration of residential passings (d) 47.5 % 49.3 %
Item 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS, 10-Q filed Oct 22, 2026
Peacock paid subscribers
48,000,000 subscribers
As of Sep 30, 2026
View source
We had 48 million and 41 million paid subscribers of Peacock as of September 30, 2026 and 2025, respectively.
Item 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS, 10-Q filed Oct 22, 2026

The statements, as filed

The income statement, cash flow statement and balance sheet in the company's own order and words. Every line links to the filing.

Income statement17 lines, as presented in the 10-Q
LineQ3 FY2026A year earlierChangeOf revenueSource
Income Statement
Revenue$29.30B$31.20B-6.1%100%Source10-Q, us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax, as reported in the 10-Q filed 2026-10-22
Costs and Expenses:
Programming and production$7.52B$8.66B-13%25.7%Source10-Q, cmcsa:ProgrammingAndProductionCosts, as reported in the 10-Q filed 2026-10-22
Marketing and promotion$2.12B$2.20B-3.5%7.2%Source10-Q, us-gaap:MarketingAndAdvertisingExpense, as reported in the 10-Q filed 2026-10-22
Other operating and administrative$10.65B$10.80B-1.4%36.3%Source10-Q, cmcsa:OtherOperatingAndAdministrative, as reported in the 10-Q filed 2026-10-22
Depreciation$2.39B$2.35B+1.4%8.1%Source10-Q, us-gaap:Depreciation, as reported in the 10-Q filed 2026-10-22
Amortization$1.31B$1.67B-21%4.5%Source10-Q, us-gaap:AmortizationOfIntangibleAssets, as reported in the 10-Q filed 2026-10-22
Total costs and expenses$23.98B$25.67B-6.6%81.8%Source10-Q, us-gaap:CostsAndExpenses, as reported in the 10-Q filed 2026-10-22
Income Statement
Operating income$5.32B$5.53B-3.9%18.2%Source10-Q, us-gaap:OperatingIncomeLoss, as reported in the 10-Q filed 2026-10-22
Interest expense (shown as a deduction)($962.0M)$1.13B-15%3.3%Source10-Q, us-gaap:InterestExpenseNonoperating, as reported in the 10-Q filed 2026-10-22
Investment and other income (loss), net$88.0M$61.0M+44%0.3%Source10-Q, us-gaap:NonoperatingIncomeExpense, as reported in the 10-Q filed 2026-10-22
Income before income taxes$4.45B$4.47B-0.5%15.2%Source10-Q, us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest, as reported in the 10-Q filed 2026-10-22
Income tax expense (shown as a deduction)($1.08B)$1.22B-11%3.7%Source10-Q, us-gaap:IncomeTaxExpenseBenefit, as reported in the 10-Q filed 2026-10-22
Net income$3.36B$3.25B+3.5%11.5%Source10-Q, us-gaap:ProfitLoss, as reported in the 10-Q filed 2026-10-22
Less: Net income (loss) attributable to noncontrolling interests-$87.0M-$83.0M+4.8%0.3%Source10-Q, us-gaap:NetIncomeLossAttributableToNoncontrollingInterest, as reported in the 10-Q filed 2026-10-22
Net income attributable to Comcast Corporation$3.45B$3.33B+3.5%11.8%Source10-Q, us-gaap:NetIncomeLoss, as reported in the 10-Q filed 2026-10-22
Basic earnings per common share attributable to Comcast Corporation shareholders (in dollars per share)$1$1+6.6%0.0%Source10-Q, us-gaap:EarningsPerShareBasic, as reported in the 10-Q filed 2026-10-22
Diluted earnings per common share attributable to Comcast Corporation shareholders (in dollars per share)$1$1+7.8%0.0%Source10-Q, us-gaap:EarningsPerShareDiluted, as reported in the 10-Q filed 2026-10-22
Cash flow statement2 lines, as presented in the 10-Q

Year to date, as a quarterly filing reports it.

LineQ3 FY2026A year earlierChangeSource
Operating Activities
Net income$3.36B$3.25B+3.5%Source10-Q, us-gaap:ProfitLoss, as reported in the 10-Q filed 2026-10-22
Statement of Cash Flows
Cash, cash equivalents and restricted cash, end of period$7.68B$9.37B-18%Source10-Q, us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents, as reported in the 10-Q filed 2026-10-22
Balance sheet32 lines, as presented in the 10-Q
LineQ3 FY2026A year earlierChangeSource
Current Assets:
Cash and cash equivalents$7.60BSource10-Q, us-gaap:CashAndCashEquivalentsAtCarryingValue, as reported in the 10-Q filed 2026-10-22
Receivables, net$13.54BSource10-Q, us-gaap:AccountsReceivableNetCurrent, as reported in the 10-Q filed 2026-10-22
Other current assets$4.09BSource10-Q, us-gaap:OtherAssetsCurrent, as reported in the 10-Q filed 2026-10-22
Total current assets$25.22BSource10-Q, us-gaap:AssetsCurrent, as reported in the 10-Q filed 2026-10-22
Assets
Film and television costs$11.10BSource10-Q, cmcsa:FilmMonetizedOnItsOwnAndEntertainmentLicenseAgreementForProgramMaterialIncludingSportsRightsAdvancesCapitalizedCostsNoncurrent, as reported in the 10-Q filed 2026-10-22
Investments$7.86BSource10-Q, us-gaap:LongTermInvestments, as reported in the 10-Q filed 2026-10-22
Property and equipment, net of accumulated depreciation of $62,721 and $60,754$66.96BSource10-Q, us-gaap:PropertyPlantAndEquipmentNet, as reported in the 10-Q filed 2026-10-22
Goodwill$53.24BSource10-Q, us-gaap:Goodwill, as reported in the 10-Q filed 2026-10-22
Franchise rights$59.37BSource10-Q, us-gaap:IndefiniteLivedFranchiseRights, as reported in the 10-Q filed 2026-10-22
Other intangible assets, net of accumulated amortization of $32,732 and $39,362$19.07BSource10-Q, us-gaap:OtherIntangibleAssetsNet, as reported in the 10-Q filed 2026-10-22
Other noncurrent assets, net$14.96BSource10-Q, us-gaap:OtherAssetsNoncurrent, as reported in the 10-Q filed 2026-10-22
Total assets$257.77BSource10-Q, us-gaap:Assets, as reported in the 10-Q filed 2026-10-22
Current Liabilities:
Accounts payable and accrued expenses related to trade creditors$11.93BSource10-Q, us-gaap:AccountsPayableCurrent, as reported in the 10-Q filed 2026-10-22
Deferred revenue$3.96BSource10-Q, us-gaap:DeferredRevenueCurrent, as reported in the 10-Q filed 2026-10-22
Accrued expenses and other current liabilities$11.27BSource10-Q, us-gaap:AccruedLiabilitiesCurrent, as reported in the 10-Q filed 2026-10-22
Current portion of debt$3.56BSource10-Q, us-gaap:DebtCurrent, as reported in the 10-Q filed 2026-10-22
Total current liabilities$30.72BSource10-Q, us-gaap:LiabilitiesCurrent, as reported in the 10-Q filed 2026-10-22
Liabilities and Equity
Noncurrent portion of debt$83.81BSource10-Q, us-gaap:LongTermDebtAndCapitalLeaseObligations, as reported in the 10-Q filed 2026-10-22
Deferred income taxes$29.02BSource10-Q, us-gaap:DeferredIncomeTaxLiabilitiesNet, as reported in the 10-Q filed 2026-10-22
Other noncurrent liabilities$21.55BSource10-Q, us-gaap:OtherLiabilitiesNoncurrent, as reported in the 10-Q filed 2026-10-22
Redeemable noncontrolling interests$171.0M$220.0M-22%Source10-Q, us-gaap:RedeemableNoncontrollingInterestEquityCarryingAmount, as reported in the 10-Q filed 2026-10-22
Equity:
Preferred stock—authorized, 20,000,000 shares; issued, zero$0Source10-Q, us-gaap:PreferredStockValue, as reported in the 10-Q filed 2026-10-22
Class A Common Stock$45.0MSource10-Q, us-gaap:CommonStockValue [us-gaap:CommonClassAMember], as reported in the 10-Q filed 2026-10-22
Class B Common Stock$0Source10-Q, us-gaap:CommonStockValue [us-gaap:CommonClassBMember], as reported in the 10-Q filed 2026-10-22
Additional paid-in capital$38.03BSource10-Q, us-gaap:AdditionalPaidInCapital, as reported in the 10-Q filed 2026-10-22
Retained earnings$62.54BSource10-Q, us-gaap:RetainedEarningsAccumulatedDeficit, as reported in the 10-Q filed 2026-10-22
Treasury stock, 919,026,355 Class A common shares (shown as a deduction)($7.52B)Source10-Q, us-gaap:TreasuryStockCommonValue, as reported in the 10-Q filed 2026-10-22
Accumulated other comprehensive income (loss)-$569.0MSource10-Q, us-gaap:AccumulatedOtherComprehensiveIncomeLossNetOfTax, as reported in the 10-Q filed 2026-10-22
Total Comcast Corporation shareholders’ equity$92.53BSource10-Q, us-gaap:StockholdersEquity, as reported in the 10-Q filed 2026-10-22
Noncontrolling interests-$33.0MSource10-Q, us-gaap:MinorityInterest, as reported in the 10-Q filed 2026-10-22
Total equity$92.50B$97.42B-5.0%Source10-Q, us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest, as reported in the 10-Q filed 2026-10-22
Liabilities and Equity
Total liabilities and equity$257.77BSource10-Q, us-gaap:LiabilitiesAndStockholdersEquity, as reported in the 10-Q filed 2026-10-22

About this data

Source
Comcast 10-Q, accession 0001628280-26-066863, filed Oct 22, 2026, read on Nov 2, 2026.
History
From the SEC's XBRL company facts, the value from the latest filing that stated each period.
Reading
Paragraphs marked Analysis are CXProWealth's reading; everything else is the filing's own numbers and words, or a cited source.
Version
methodology business-lens-1.0 · schema 1.2.0 · run business-lens-2026-11-02
Edge and risks

What holds Comcast's model up, and what could bend it

Competitive edge

  • One network sells to homes and businesses alike

    Residential and business connectivity bring in $17.0B and $2.6B, 58.1% and 9.0% of revenue, on infrastructure the two segments share.

    The detail

    The filing says the two connectivity segments "use certain shared infrastructure, including our network in the United States," and each is presented with its direct costs and "an allocation of shared costs." It says business services revenue increased "primarily due to increases in revenue from enterprise solutions offerings."1

    AnalysisAnalysis: selling the same lines to companies spreads the fixed cost of the network over a second customer base, which is why business services can grow while residential penetration slips. The advantage holds as long as the network reaches places rivals do not, and lasts only while the company keeps investing in speed and reach.

  • Peacock grows on content the group already owns

    Peacock reached 48 million paid subscribers from 41 million a year earlier, drawing on NBC networks, sports rights and Studios content licensed inside the group.

    The detail

    The filing attributes lower Media programming costs to "lower programming costs at Peacock and our international networks, partially offset by costs associated with the FIFA World Cup." Studios generates revenue "from third parties and from licensing content to our Media segment," including for Peacock. It notes some bundled subscribers are counted when the service is made available to them "regardless of whether it is activated."1

    AnalysisAnalysis: content acquired or made once and shown on both the linear networks and Peacock lowers the added cost of the streaming service compared with a rival that pays for every title for its service alone. The edge depends on the group keeping those rights together, which the planned spin-off leaves with NBCUniversal rather than with the connectivity business.

  • Operating cash flow runs at 2.3 times net profit

    Operating cash flow of $7.9B was 2.3 times net income attributable to Comcast of $3.45B, funding capital spending and debt repayment from operations.

    The detail

    Depreciation of $2.4B and amortization of $1.3B reduce profit without using cash in the quarter. The filing says "Our businesses generate significant cash flows from operating activities" and that it expects to use a substantial portion of them "in repaying our debt obligations, funding our capital expenditures," investing and returning capital to shareholders.1

    AnalysisAnalysis: most of this cash comes from monthly bills for connectivity and subscriptions, which tends to arrive more steadily than advertising or box office receipts. That steadiness is what lets the company repay debt while it invests, though the gap between cash and profit also reflects past investment that must eventually be renewed.

What to watch

  • The NBCUniversal spin-off is not yet certain

    The planned separation needs board approval, tax opinions, regulatory approvals and financing, and the filing says it could be delayed or not happen at all.

    The detail

    The filing says unmet conditions, along with "conditions in the equity and debt markets and other external conditions, could delay completion" or "prevent it from occurring at all." If completed, it would create "two companies that are smaller," each with separate costs "that may be shared today," and if found taxable, Comcast and its shareholders "could be subject to substantial" taxes.1

    AnalysisAnalysis: the costs so far are transaction fees, but the larger tests come later, in the standalone overhead each company carries and the financing terms each obtains once they stand apart.

  • Competition is pushing down broadband rates and customer numbers

    Broadband revenue fell on lower average rates and fewer customers, and penetration slid to 47.5% from 49.3% despite the free wireless line offer.

    The detail

    The filing says customer relationship net additions "continue to be negatively impacted by an increasingly competitive environment," and expects "continued declines in video revenue" from customer losses "due to shifting video consumption patterns and the competitive environment."1

    AnalysisAnalysis: the free wireless line lowers revenue per customer now in exchange for retention later, and adds direct costs because the service runs partly on networks the company does not own. The trade pays only if penetration stops sliding and free lines convert to paid service.

  • Linear TV keeps shrinking while Peacock still costs heavily

    The filing expects linear network subscribers and ratings to keep declining, and significant Peacock content and marketing costs to continue.

    The detail

    Media brought in $5.4B, 18.3% of revenue. The filing expects linear audiences "will continue to decline," which it aims to offset "by growth in both paid subscribers and advertising revenue at Peacock," and says "We expect to continue to incur significant costs related to content and marketing at Peacock." This quarter's Media results include the FIFA World Cup.1

    AnalysisAnalysis: sports events move both revenue and costs from quarter to quarter, so a clean read of whether Peacock is covering its own costs needs an ordinary quarter, with its revenue rising faster than its costs while linear subscribers keep falling.

Sources

  1. 1.Comcast 10-Q for the period to 2026-09-30 (the filing), Oct 22, 2026, read Nov 2, 2026
Go deeper

Comcast, further in

Member research, then your own questions on ChatGPT.

What could change the outlook

What Comcast's numbers depend on from here, read from the filing: the conditions behind this period's margins and growth, and where a change would show first.

  • What the connectivity company would depend on after the split

    Which numbers would carry the remaining Comcast once NBCUniversal and Sky stand apart, and what would have to change in broadband for its margins to hold.

  • Which of this quarter's profit gains can repeat

    A line-by-line look at what lifted earnings while operating income fell, separating debt repaid and accounting effects from changes in how the businesses run.

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Questions to start with
  • How much of Comcast's higher operating margin this quarter came from lower amortization after the Versant spin-off?
  • Why did Comcast's net income rise while its operating income fell, and how lasting are the lower interest and tax costs?
  • What does falling broadband penetration mean for Comcast's connectivity business after the NBCUniversal spin-off?

Business Lens describes Comcast from its own filings with the SEC. It is not a view on its shares, a target, or advice to buy, sell or hold anything; figures are as filed and may be restated by the company later. The filing, the dates and the version are under the financial data above.