Comcast (NasdaqGS:CMCSA) Q4 2025 Earnings call January 29, 2026 08:30 AM ET Company ParticipantsBrian Roberts - Chairman and CEOCraig Moffett - Senior Managing DirectorJason Armstrong - CFOJessica Reif Ehrlich - MDKutgun Maral - Cable and Telecom Equity ResearchMarci Ryvicker - EVP of Investor RelationsMike Cavanagh - Co-CEOMike Rollins - MDSteve Crone - CEO of Connectivity & PlatformsConference Call ParticipantsJohn Hodulik - MD and Senior Equity Research AnalystMichael Ng - Equity Research AnalystOperator ...

Comcast (NasdaqGS:CMCSA) Q4 2025 Earnings call January 29, 2026 08:30 AM ET Speaker0Good morning, ladies and gentlemen, and welcome to Comcast's fourth quarter and full year 2025 earnings conference call. At this time, all participants are in a listen-only mode. Please note this conference call is being recorded. I will now turn the call over to Executive Vice President, Investor Relations, Ms. Marci Ryvicker. Please go ahead, Ms. Ryvicker.Speaker2Thank you, Operator, and welcome, everyone. Joining us on to ...

Core Insights - Comcast has opened its first Xfinity Store in Chehalis, Washington, located in the Twin City Town Center West [1] - The new store features an interactive design aimed at providing local residents with a convenient location to explore Xfinity products and services, including Xfinity Mobile [1] - The store also offers opportunities for local businesses to discuss their technology needs with Comcast Business experts [1]

Core Insights - Comcast, in collaboration with the Healey-Driscoll administration and the Massachusetts Technology Collaborative's Massachusetts Broadband Institute (MBI), has made significant advancements in upgrading broadband infrastructure in public and affordable housing across Massachusetts [1][5]. Group 1: Project Overview - The Residential Retrofit Program, launched in February 2024, has allocated nearly $70 million to enhance internet infrastructure in over 40,000 public and affordable housing units throughout Massachusetts [5]. - The upgrades include the installation of state-of-the-art wiring to provide high-speed, symmetrical internet and robust connectivity, enabling residents to access essential services such as telehealth, remote work, and smart home technology [2][4]. Group 2: Impact on Residents - Residents at properties like Just A Start in Cambridge are now equipped with fast, reliable broadband and strong WiFi, enhancing their ability to engage in educational and job opportunities [2][4]. - Comcast has a history of supporting Just A Start, contributing $110,000 in grants over the past three years and distributing hundreds of laptops to residents to promote digital opportunities [4]. Group 3: Broader Initiative - Beyond Cambridge, Comcast is also upgrading broadband infrastructure in other cities including Boston, Haverhill, Lowell, Somerville, and Springfield as part of the Residential Retrofit Program [3]. - The initiative aims to expand digital access and equity across the state, addressing barriers to internet adoption and enhancing availability [6].

Core Insights - Comcast is expanding its services in Centreville, MD, connecting over 2,300 new homes and businesses to multi-gigabit Internet, enhancing its converged WiFi network [1][3] - The expansion is part of a broader initiative in Queen Anne's County, aiming to connect more than 16,000 residents and businesses across the region [3] Group 1: Service Expansion - Comcast is introducing its full suite of Xfinity services in Centreville, including high-speed Internet, streaming, mobile, voice, and home security [4] - The first residents will be connected to Xfinity services early this year, with updates available on the Xfinity website [2] Group 2: Business Solutions - Comcast Business offers tailored connectivity solutions for businesses of all sizes, including secure Internet and advanced networking options like SD-WAN and cloud connectivity [5] - Comcast Business Mobile provides fast 5G connectivity and flexible data plans, designed to enhance productivity for businesses on the move [8] Group 3: Community Commitment - Comcast aims to increase economic mobility in the Centreville community through initiatives like Internet Essentials, which provides low-cost, high-speed Internet to eligible households [9] - The company has invested in local nonprofits to help residents build digital skills and expand WiFi-connected Lift Zones [9]

Core Insights - The US home broadband market is facing challenges for cable operators due to increasing net broadband subscriber losses driven by competition from fiber and fixed wireless access [1] - Mobile services are becoming essential for cable companies, with Comcast and Charter reporting significant net mobile line additions in Q3 2025 [2] Group 1: Comcast's Performance - Comcast achieved its best quarterly mobile line additions in Q3 2025, with 414,000 net mobile line adds, bringing its total to 8.94 million mobile lines and over 14% penetration of its broadband base [3] - A significant portion of Comcast's new subscribers came from a free-line bundling strategy, which contributed to the increase in net additions [3] - Comcast is focusing on converting free lines into paying customers to capture convergence revenue growth, especially as promotional offers expire in H2 2026 [4] Group 2: Charter's Performance - Charter experienced year-over-year declines in total revenue (-0.9%), residential revenue (-1.1%), and adjusted EBITDA (-1.5%) in Q3 2025, despite a slight increase in broadband revenue by 1.7% [6] - Mobile services are highlighted as a growth engine for Charter, providing a positive aspect amidst overall revenue challenges [6]

Core Insights - Comcast has completed its network expansion to nearly 22,000 new homes and businesses in Litchfield County, providing high-speed, symmetrical Internet services [1][3] - The expansion allows residents and businesses in Litchfield, Morris, Thomaston, Torrington, and Watertown to access Comcast's full suite of Xfinity and Comcast Business services [1][4] Network Expansion - The expansion is part of Comcast's commitment to deepen its investment in Connecticut, enhancing access to fast and reliable Internet and mobile services [3] - More than 65 million homes and businesses nationwide are now served by Comcast's network, which supports innovation and connectivity [2] Residential Services - Comcast offers a complete lineup of Xfinity services, including high-speed Internet, streaming, mobile, voice, and home security, tailored for modern connected lifestyles [4] - Xfinity Internet provides multi-gig speeds, 99.9% reliability, and extensive WiFi coverage, facilitating seamless streaming and gaming experiences [8] Business Solutions - Comcast Business delivers secure and reliable connectivity for businesses of all sizes, featuring advanced networking solutions like SD-WAN and cloud connectivity [5] - Comcast Business Mobile offers fast 5G services, flexible data plans, and access to over 23 million WiFi hotspots nationwide, designed to enhance productivity [6] Community Impact - Comcast's investment includes programs like Internet Essentials, which provides low-cost broadband and affordable computers to eligible households [7] - Partnerships with local nonprofits aim to expand digital skills and support initiatives that promote connectivity and economic mobility in Litchfield County [7]

Core Insights - Comcast has achieved a significant milestone by connecting 12,000 homes and businesses in Mahoning County, specifically in Poland and Boardman, Ohio, to multi-gigabit, symmetrical Internet [1] - As a new connectivity provider in Poland Village, Poland Township, and Boardman Township, Xfinity offers a combination of Internet, mobile, entertainment, and smart home services, enhancing customer experience through increased speed, savings, and control [1] Company Developments - The expansion of Comcast's services in Mahoning County marks a strategic move to enhance its market presence and provide advanced connectivity solutions [1] - The introduction of multi-gigabit Internet services positions Comcast as a competitive player in the region, catering to the growing demand for high-speed Internet [1] Industry Impact - The deployment of multi-gigabit Internet services reflects the broader trend in the telecommunications industry towards faster and more reliable connectivity options [1] - This initiative may influence other providers in the area to enhance their service offerings, potentially leading to increased competition and improved services for consumers [1]

Core Insights - Comcast has connected over 10,000 new homes and businesses in Blair County, PA, to its multi-gigabit Internet service, enhancing connectivity options for residents and businesses [1][4] Group 1: Service Expansion - The expansion includes the City of Altoona and Logan Township, with plans to ultimately connect nearly 30,000 additional homes and businesses [4] - This initiative is part of Comcast's broader investment strategy to enhance network access across Blair County, following recent expansions into other townships [4][5] Group 2: Customer Experience - Residents have reported improved speed and reliability after switching to Xfinity Internet, highlighting positive customer service experiences [2] - Xfinity offers a five-year price guarantee on Internet plans, along with a best-in-class WiFi Gateway included in the service [2][5] Group 3: Business Solutions - Comcast Business provides tailored connectivity solutions for businesses of all sizes, including advanced networking options like SD-WAN and cloud connectivity [7] - The Comcast Business Mobile service offers fast 5G connectivity and flexible data plans, designed to enhance productivity for businesses [8] Group 4: Community Commitment - Comcast's initiatives include the Internet Essentials program, which provides low-cost, high-speed Internet to eligible households, and investments in local nonprofits to build digital skills [9] - The company has partnered with the Altoona Curve Baseball team to support community initiatives, showcasing its commitment to local engagement [9]

Core Insights - Comcast has opened a new Xfinity Store in Noblesville, Indiana, aimed at providing residents and small business owners with access to the latest Xfinity products and services [1][2][3]. Store Features - The store spans 1,400 square feet and is located at 12919 Campus Parkway, marking Xfinity's first presence in the Noblesville community [3]. - It includes interactive displays and service counters staffed by knowledgeable sales consultants, allowing customers to explore offerings such as Xfinity Internet, Xfinity X1, Xfinity Mobile, Xfinity Voice, and Xfinity Home products [3][4]. - Customers can also find the latest mobile devices from brands like Apple, Samsung, Google, LG, and Motorola, along with a variety of wireless accessories [4]. Customer Services - The store serves as a one-stop destination for bill payments, account management, equipment returns, and expert guidance on optimizing services [4]. - Hands-on demonstrations of Xfinity Pro, an advanced platform for managing home WiFi, are available, enhancing user experience for streaming, gaming, remote learning, and smart home control [4]. Strategic Goals - This new location is part of Comcast's broader strategy to enhance customer service, expand its retail footprint, and strengthen community connections across Indiana [5]. - The store operates Monday through Saturday from 10 a.m. to 8 p.m. and Sunday from 10 a.m. to 6 p.m. [5].