Competitive Pressure Pulled Down Comcast Corporation (CMCSA) in Q3

Core Insights - Cullen Capital Management's SCCM Value Equity Strategy reported a gross return of 6.9% in Q3 2025, outperforming the Russell 1000 Value's 5.3% and the S&P 500's 8.1% during the same period [1] - Year-to-date, the strategy achieved a gross return of 13.0%, compared to Russell 1000 Value's +11.7% and S&P 500's +14.8% [1] Company Performance - Comcast Corporation (NASDAQ:CMCSA) experienced a one-month return of -8.29% and a 52-week decline of 38.23%, closing at $26.87 per share with a market capitalization of $99.21 billion on November 19, 2025 [2] - In Q3 2025, Comcast's revenue declined approximately 3% year-over-year, indicating challenges in maintaining growth [4] Sector Analysis - The Communication Services sector's stock selection was the largest detractor from SCCM's relative performance, with Comcast's stock contributing a -11.2% impact [3] - Competitive pressures in broadband from fiber and fixed wireless access, along with promotional offers, negatively affected Comcast's average revenue per user (ARPU) and segment margins [3] - Despite current challenges, Comcast's management remains optimistic about long-term strategies, focusing on wireless expansion, enterprise growth, and enhancing the Peacock sports lineup [3]