Comcast Q3 Beats Estimates, Names Co-CEO

Comcast beat third-quarter expectations with adjusted EPS of $1.12 and revenue of $31.2 billion, though revenue fell 2.7% year over year and net income declined about 8% to roughly $3.3 billion. Theme Parks led growth with about a 19% revenue increase driven by the May opening of Epic Universe and new Las Vegas attractions, while studios were helped by Jurassic World: Rebirth and media revenue fell versus a quarter that included $1.9 billion from the Paris Olympics. Peacock narrowed losses by roughly $217–$219 million and held about 41 million paid subscribers. Connectivity trends were mixed: Comcast added a record ~414,000 wireless customers but lost roughly 104,000 broadband subscribers, with management citing pricing, bundling and service initiatives. Management said it is repositioning for long‑term growth, has completed its succession moves including appointing a co‑CEO, and is pursuing strategic actions such as a planned spin‑off of cable networks (Versant) and potential M&A interest. The stock has underperformed year‑to‑date and analysts have modestly revised estimates.