Comcast posts record mobile adds

Comcast just posted its first real sign of broadband stability since 2020, tightening customer losses and racking up record gains in mobile lines. Revenue climbed 5% to $31.46 billion, fueled by a new playbook: simpler broadband pricing, five-year price locks, no data caps, and a heavy ad push during big sports events. The catch? These moves kept more customers but squeezed broadband profit per user, and media costs from the Super Bowl and NBA ballooned losses at Peacock—even as the streamer’s revenues surged 71% and paid subs hit 46 million.

Wireless is now the engine, with Xfinity Mobile’s base rocketing to 9.73 million lines and Comcast ditching by-the-gig plans in favor of premium unlimited options. Early signs are that customers lured by “free line” promos are sticking around and even upgrading, but the big question is whether this momentum can offset headwinds in broadband and expensive media rights. Meanwhile, whispers of a possible Comcast-Charter merger are swirling, raising the stakes on scale and convergence as Comcast aims to outmaneuver Verizon and AT&T.

Featuring insights from CEO Steve Croney and CFO Jason Armstrong, plus context from New Street analysts and industry reporting from Bloomberg and Fierce Network.

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