Comcast Corporation is a global media and technology company that operates through two primary business segments: Connectivity & Platforms and Content & Experiences. The company provides broadband, wireless, video, and voice services under brands such as Xfinity, Comcast Business, and Sky, and produces and distributes entertainment, sports, and news through brands like NBC, Telemundo, Universal, Peacock, and Sky . Additionally, Comcast operates Universal theme parks, contributing significantly to its revenue .
-
Connectivity & Platforms - Offers broadband, wireless, video, and voice services primarily under the Xfinity, Comcast Business, and Sky brands. Includes Residential Connectivity & Platforms and Business Services Connectivity, with Sky-branded entertainment television networks in the UK and Italy.
- Residential Connectivity & Platforms - Provides broadband and wireless services, showing significant growth in domestic broadband and wireless.
- Business Services Connectivity - Delivers high-margin connectivity services to businesses, contributing significantly to annual revenue.
-
Content & Experiences - Encompasses Media, Studios, and Theme Parks, producing and distributing entertainment, sports, and news.
- Media - Includes brands like NBC, Telemundo, and Sky, offering a wide range of entertainment and news content.
- Studios - Produces films and television content under the Universal brand.
- Theme Parks - Operates Universal theme parks, which have seen substantial revenue growth.
- Streaming - Provides streaming services through the Peacock brand.
You might also like
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Brian L. Roberts ExecutiveBoard | Chairman and CEO | None | Brian L. Roberts has been Chairman and CEO since 1986. He is the son of Comcast's founder and holds sole voting power over 33 1/3% of Comcast's voting stock. | View Report → |
Daniel C. Murdock Executive | EVP, Chief Accounting Officer | None | Daniel C. Murdock joined Comcast in 2015 and became Chief Accounting Officer in 2017. He previously worked at the SEC as Deputy Chief Accountant. | |
Jason S. Armstrong Executive | Chief Financial Officer (CFO) | None | Jason S. Armstrong joined Comcast in 2014 and became CFO in January 2023. He previously held roles such as Treasurer and Deputy CFO. | |
Jennifer Khoury Executive | Chief Communications Officer | None | Jennifer Khoury joined Comcast in 1999 and has held various leadership roles in corporate and digital communications. | |
Michael J. Cavanagh Executive | President | None | Michael J. Cavanagh joined Comcast in 2015 as CFO and became President in October 2022. He previously held senior roles at JPMorgan Chase. | |
Thomas J. Reid Executive | Chief Legal Officer and Secretary | None | Thomas J. Reid joined Comcast in April 2019. He was previously Chairman and Managing Partner at Davis Polk & Wardwell LLP. | |
Asuka Nakahara Board | Director | Partner at Triton Atlantic Partners; Co-Founder of Incompass Labs; Associate Director at Wharton School; Trustee at Rice University. | Asuka Nakahara has been a Director since 2017. He has expertise in real estate, finance, and education. | |
David C. Novak Board | Director | Founder of David Novak Leadership, Inc.; Board Member at Lift-a-Life Novak Family Foundation. | David C. Novak has been a Director since 2016. He is a leadership expert and author of several books on management. | |
Edward D. Breen Board | Lead Independent Director | CEO and Executive Chairman of DuPont; Trustee at Grove City College, Lebanon Valley College, and The Hun School of Princeton. | Edward D. Breen has been Lead Independent Director since 2014. He brings extensive experience in executive leadership and governance. | |
Jeffrey A. Honickman Board | Director | CEO of Pepsi-Cola and National Brand Beverages; Board Member at American Beverage Association and Barnes Foundation. | Jeffrey A. Honickman has been a Director since 2005. He chairs Comcast's Audit Committee and is recognized as an Audit Committee Financial Expert. | |
Kenneth J. Bacon Board | Director | CEO of RailField Partners; Board Member at Ally Financial, Arbor Realty Trust, and Welltower Inc.. | Kenneth J. Bacon has been a Director since 2002. He has expertise in finance, housing, and risk management. | |
Louise F. Brady Board | Director | Co-Founder of Piedmont Capital Partners; President of Blue Current, Inc.; Board Member at Travel + Leisure Co.. | Louise F. Brady joined Comcast's Board in October 2023. She has expertise in venture capital and technology. | |
Madeline S. Bell Board | Director | CEO of The Children’s Hospital of Philadelphia; Board Member at Leonard Davis Institute of Health Economics and Solutions for Patient Safety. | Madeline S. Bell has been a Director since 2016. She is a leader in healthcare and governance. | |
Thomas J. Baltimore Board | Director | CEO of Park Hotels & Resorts; Director at American Express; Board Member at UVA Investment Management Co., Real Estate Roundtable, and UVA McIntire School of Commerce Foundation. | Thomas J. Baltimore joined Comcast's Board in March 2023. He has extensive experience in hospitality and real estate. | |
Wonya Y. Lucas Board | Director | Director at Atlanta Braves Holdings; Former CEO of Hallmark Media Networks. | Wonya Y. Lucas joined Comcast's Board in April 2024. She has extensive leadership experience in media and broadcasting. |
-
Given that your CapEx year-to-date is running below the expected 10% in Connectivity & Platforms, should we anticipate a significant catch-up in Q4, and how will this affect your free cash flow projections?
-
With the intensifying competition from fiber providers expanding their footprint, can you discuss the impact on your broadband ARPU and pricing power when new fiber entrants enter your markets, and what strategies you have in place to mitigate potential losses?
-
Regarding your potential spin-off of your cable networks into a new company, can you provide more details on the strategic rationale behind this move, and do you view it as an opportunity to create a roll-up vehicle for the industry?
-
The Olympics generated a record $1.9 billion in revenue, but could you comment on the profitability of the event and how you plan to sustain or improve profitability in future Olympic Games given past underperformance?
-
Considering the significant investment and $150 million in pre-opening costs for Epic Universe, how do you anticipate this will impact your bottom line over the next 3 to 5 years, and what measures are in place to ensure a strong return on this substantial capital investment?
Research analysts who have asked questions during COMCAST earnings calls.
Benjamin Swinburne
Morgan Stanley
5 questions for CMCSA
Craig Moffett
MoffettNathanson
5 questions for CMCSA
John Hodulik
UBS Group AG
5 questions for CMCSA
Michael Ng
Goldman Sachs
5 questions for CMCSA
Jessica Reif Ehrlich
Bank of America Securities
3 questions for CMCSA
Jonathan Chaplin
New Street Research
3 questions for CMCSA
Michael Rollins
Citigroup
3 questions for CMCSA
Jessica Reif Cohen
Bank of America Merrill Lynch
2 questions for CMCSA
Kutgun Maral
Evercore ISI
2 questions for CMCSA
Steven Cahall
Wells Fargo & Company
2 questions for CMCSA
Competitors mentioned in the company's latest 10K filing.
| Company | Description |
|---|---|
Certain wireline telecommunications companies have built and are continuing to build fiber-based wireline network infrastructure further into their networks, enabling them to provide data transmission speeds that exceed those of traditional copper DSL technology, and are offering services with these higher speeds in many of the company's service areas. | |
Certain wireline telecommunications companies have built and are continuing to build fiber-based wireline network infrastructure further into their networks, enabling them to provide data transmission speeds that exceed those of traditional copper DSL technology, and are offering services with these higher speeds in many of the company's service areas. | |
Certain wireline telecommunications companies have built and are continuing to build fiber-based wireline network infrastructure further into their networks, enabling them to provide data transmission speeds that exceed those of traditional copper DSL technology, and are offering services with these higher speeds in many of the company's service areas. | |
Certain wireline telecommunications companies have built and are continuing to build fiber-based wireline network infrastructure further into their networks, enabling them to provide data transmission speeds that exceed those of traditional copper DSL technology, and are offering services with these higher speeds in many of the company's service areas. | |
BT | Certain wireline telecommunications companies in the United Kingdom have built and are continuing to build fiber-based wireline network infrastructure further into their networks, enabling them to provide data transmission speeds that exceed those of traditional copper DSL technology, and are offering services with these higher speeds in many of the company's service areas. |
Virgin Media O2 | Certain wireline telecommunications companies in the United Kingdom have built and are continuing to build fiber-based wireline network infrastructure further into their networks, enabling them to provide data transmission speeds that exceed those of traditional copper DSL technology, and are offering services with these higher speeds in many of the company's service areas. |
The company competes with national and regional wireless service providers in the United States that offer wireless service on both a stand-alone basis and with other services as bundled offerings. | |
Subscription-based services that offer online services enabling internet streaming and downloading of movies, television shows, and other video programming compete with the company's video services. | |
Subscription-based services that offer online services enabling internet streaming and downloading of movies, television shows, and other video programming compete with the company's video services. | |
Hulu + Live TV | Virtual multichannel video providers that offer streamed linear television networks compete with the company's video services. |
YouTube TV | Virtual multichannel video providers that offer streamed linear television networks compete with the company's video services. |
Recent press releases and 8-K filings for CMCSA.
- According to James Altucher, Starlink bypasses legacy network infrastructure by delivering internet from space, removing reliance on towers and cables.
- Consumers are paying nearly $200/month for slower service, while providers like Comcast raise prices four times the rate of inflation.
- Starlink is now operational globally, serving over 2.6 million households and used on cruise ships, planes, and in the Ukraine conflict.
- Altucher positions this disruption as a historic opportunity, suggesting legacy providers may lose their entrenched market power.
- Comcast accepted $375.527 million of its 4.150% notes due 2028 and $99.744 million of its 4.550% notes due 2029 in the Amended Pool 2 Exchange Offers; it plans to issue approximately $480 million of 5.168% notes due 2037, bringing total outstanding to about $1.17 billion.
- The Amended Pool 2 Cash Offers resulted in the purchase of $378.596 million of 4.150% notes due 2028 and $67.614 million of 4.550% notes due 2029; all related conditions were satisfied.
- Settlement for both the exchange and cash offers is expected to occur on October 9, 2025.
- Comcast received $384.7 M of 4.150% 2028 notes (CUSIP 20030N CT6) and $101.3 M of 4.550% 2029 notes (CUSIP 20030N ED9) tendered in its Amended Pool 2 Exchange Offers, with $13.6 M and $1.6 M subject to guaranteed delivery respectively.
- In its Amended Pool 2 Cash Offers, Comcast received $378.6 M of 4.150% 2028 notes and $67.6 M of 4.550% 2029 notes validly tendered.
- Since tenders for each series were below maximum, Comcast expects to accept all valid tenders and issue approximately $491 M aggregate principal of New 2037 Notes on settlement.
- The offers cover two series of outstanding debt—4.150% due 2028 and 4.550% due 2029—with acceptance and settlement subject to customary conditions.
- Completed Exchange Offers to tender 5.350% notes due 2027, 3.150% notes due 2028, 3.550% notes due 2028, 3.300% notes due 2027 and 5.100% notes due 2029 (Pool 1 Notes) and issued $691,967,000 aggregate principal of new 5.168% notes maturing January 15, 2037.
- New Notes were issued under the Indenture dated September 18, 2013 (as amended November 17, 2015 and July 29, 2022) and are guaranteed on an unsecured, unsubordinated basis by Comcast Cable Communications, LLC and NBCUniversal, LLC.
- Entered into a Registration Rights Agreement dated October 2, 2025, obligating the Company and Guarantors to file a registration statement within 330 days of issuance and to conduct a Registered Exchange Offer for unrestricted exchange notes.
- Both the Exchange and Cash Offers expired on September 26, 2025 and are expected to settle on October 2, 2025.
- In the Exchange Offers, Comcast accepted $79.66 M of 5.350% 2027 notes, $226.82 M of 3.150% 2028 notes, $130.20 M of 3.550% 2028 notes, $133.87 M of 3.300% 2027 notes and $119.71 M of 5.100% 2029 notes in exchange for approximately $692 M of new 5.168% Notes due 2037.
- In the Cash Offers, Comcast purchased $41.51 M of 5.350% 2027 notes, $125.10 M of 3.150% 2028 notes, $85.06 M of 3.550% 2028 notes, $27.16 M of 3.300% 2027 notes and $29.65 M of 5.100% 2029 notes for cash.
- All customary conditions to both the Exchange and Cash Offers, including the New Notes Minimum Condition and the Maximum Total Consideration Condition, have been satisfied.
- Comcast is deploying Ciena’s 5131 Coherent Access Platform to extend fiber reach beyond 100 km and deliver 100 Gb/s capacity to serve residential, SMB, enterprise, and community anchor institutions.
- The solution is delivered in a line-powered, weatherproof enclosure, eliminating the need for costly hub sites or power-hungry equipment and simplifying installation and operation.
- Deployment supports Comcast’s Rural Broadband and BEAD initiatives, aiming to improve digital opportunity in unserved and underserved communities.
- Ciena’s coherent routing technology significantly surpasses the reach of the existing DWDM fiber plant, accelerating broadband deployments.
- Michael J. Cavanagh will be appointed Co-Chief Executive Officer of Comcast effective January 2026, serving alongside Brian L. Roberts.
- Brian L. Roberts will continue as Chairman and Co-CEO.
- Cavanagh will join the Board of Directors and will not serve on any board committee.
- The change was announced on September 29, 2025; Cavanagh joined Comcast in 2015 as CFO and currently serves as President.
- Comcast will install a co-CEO structure with Mike Cavanagh and Brian L. Roberts sharing the top role starting January 2026, marking the first CEO appointment from outside the Roberts family while Roberts remains chairman with a major voting stake.
- Cavanagh, who joined in 2015 as CFO and later became president, has overseen NBCUniversal operations—including broadcast and cable networks, film studios, theme parks and the Peacock streaming service—demonstrating his strategic and operational expertise.
- The leadership change aligns with Comcast’s strategy to navigate the evolving media landscape, including a planned cable TV network spinoff, and to drive growth across its diverse businesses.
- The co-CEO arrangement, though uncommon, mirrors models at other media firms and underscores Comcast’s commitment to operational continuity amid industry transformation.
- Comcast expects to accept all Pool 1 tenders, exchanging approximately $714 million of old notes for 5.168% New 2037 Notes.
- Amended Pool 2 exchange offers for the 4.150% 2028 and 4.550% 2029 notes now expire October 3, 2025, offering $1,007.68 and $1,020.42 per $1,000 in New 2037 Notes, with an aggregate cap of $1 billion.
- Corresponding amended cash offers for Pool 2 mirror the exchange offers’ prices, are limited to $600 million total cash consideration, and also expire on October 3, 2025.
- Comcast launched seven Exchange Offers to swap existing notes for new 5.168% Notes due 2037 and 5.218% Notes due 2038, expiring September 26, 2025; settlement expected October 2, 2025.
- Cash Offers mirror the Exchange Offers for non-QIB/non-Reg S holders, repurchasing the same seven series of notes, also expiring September 26, 2025 with settlement on October 2, 2025.
- Exchange Offer yields range from 3.768% to 3.915%, with Total Exchange Prices between $985.20 and $1,039.21 per $1,000; Cash Offer Total Considerations match these values.
- Both Exchange and Cash Offers exclude accrued interest from the price, with an Accrued Coupon Payment to be paid in cash in addition to the exchange/purchase price.
- Offers are subject to customary conditions (e.g., minimum issue, capacity, completion) and are administered by Global Bondholder Services as Information, Exchange, and Tender Agent.