Short answer
Comcast (CMCSA) filed its Q3 2025 10-Q quarterly report on Oct 30, 2025 for the quarter ended Sep 30, 2025. Quarterly revenue was $31.2B (down 2.7% year over year) with net income of $3.3B.
Q3 2025 key financials · XBRL
- Revenue
- $31.2B
- −2.7% YoY · +2.9% QoQ
- Net income
- $3.3B
- −8.2% YoY · −70.0% QoQ
- Operating margin
- 17.7%
- EPS (diluted)
- $0.92
- −1.1% YoY · −69.0% QoQ
Source: XBRL data from the Comcast (CMCSA) Q3 2025 10-Q on SEC EDGAR. USD.
Comcast Q3 2025 10-Q analysis
AI summary of MD&A and risk factor updates
Management Discussion & Analysis
- Revenue $31.2B, down 2.7% YoY; Content & Experiences down $11.7B vs $12.6B, partially offset by Corporate & Other growth
- Operating income $5.53B, down 5.5% YoY; Adjusted EBITDA $9.67B, down 0.7% YoY; Adjusted EBITDA margin 31.0% vs ~30.4% (calculated)
- Best segment: Theme Parks revenue +18.7% to $2.72B, adjusted EBITDA stable at $2.05B; Worst segment: Media revenue down 19.9% to $6.59B
- Cash from operations $24.8B, up $5.2B YoY; increased investing and financing cash outflows notably on new acquisitions and debt repayments
- Near-term outlook cautious on video and advertising declines; expects ongoing investment in broadband and theme parks; new US tax law reduces tax expenses
Risk Factors
- Continued cybersecurity threats risk compromising network infrastructure and customer data
- Competition from streaming services and telecom providers impacting subscriber growth and pricing power
- Regulatory risks include FCC rules on net neutrality and data privacy compliance requirements
- Market risk from evolving consumer preferences toward wireless and streaming technologies
- Financial risk from significant debt load $60B and exposure to interest rate fluctuations
Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K
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