Comcast Reports Increased Broadband Customer Losses, Cites Competitors' 'Irrational Pricing'

Customer Losses Accelerate

Comcast reported a loss of 144,000 residential broadband customers in the third quarter of 2026. This figure represents an increase from the 91,000 customer loss recorded in the same quarter of the previous year. The company's total residential broadband customer base in the US now stands at 28.3 million.

Competitive Landscape and 'Irrational Pricing'

Comcast co-CEO Mike Cavanagh stated that fixed wireless providers continue to be aggressive and gain market share, while fiber construction remains elevated. He specifically mentioned "pockets of irrational pricing and promotional activity" from fiber providers. CFO Jason Armstrong elaborated, citing $30 to $40 monthly broadband offers in specific markets as examples of this irrational pricing, given the high cost of fiber deployment.

Armstrong argued that such pricing is unsustainable when fiber deployment costs $1,500 or more per home, with construction costs rising in suburban and rural areas. While no specific competitors were named, Verizon offers FiOS fiber plans starting at $30 a month. Comcast's network primarily uses a mix of fiber and cable, with fiber-to-the-home available in limited areas.

Internal Strategy and Job Cuts

Comcast is planning significant job cuts within its cable division as part of a broader operational and cost transformation. Cavanagh described this as the most significant transformation in the company's history, aiming to save billions of dollars over time. These organizational changes are expected to result in a charge of over $1 billion.

Customer Retention Challenges

CFO Jason Armstrong noted that more customers are leaving Comcast during "pricing transitions," which refers to price increases after promotional offers expire. The company is refining its offers and retention strategies to better manage these transitions and improve customer retention. Cavanagh also mentioned that while satellite competition is not yet a major factor, Comcast is focusing on anticipating and responding to emerging forms of competition.