Comcast loses more broadband customers and calls rivals' low prices "irrational"
US cable and internet company Comcast lost 144,000 residential broadband customers in the third quarter of 2026, more than a year earlier. It is pursuing a major restructuring that will bring a charge of over $1 billion in the fourth quarter.
Comcast, the US telecommunications and media company, said in its earnings report published today that it lost 144,000 residential broadband internet customers in the third quarter of 2026. In the same period a year earlier the loss was 91,000. After the drop, the company has 28.3 million residential broadband customers in the United States. Reports say Comcast plans significant job cuts in its cable division as it continues to lose both internet and TV subscribers.
Competition is growing
Comcast long benefited from a lack of competition in high-speed wired broadband. It now faces stronger rivals from fixed wireless providers and, in parts of its cable territory, from fiber operators. Co-CEO Mike Cavanagh said fixed wireless remains aggressive and continues to take market share, while fiber construction remains elevated, with pockets of "irrational" pricing and promotions. He said satellite internet is not yet a material factor.
Chief financial officer Jason Armstrong said the irrational pricing includes offers of $30 to $40 a month in specific markets during the quarter. He argued that deploying fiber costs $1,500 or more per home, and costs rise as construction moves into suburban and rural areas. He did not name competitors, but Verizon has been promoting FiOS fiber plans starting at $30 a month. Comcast's network mixes fiber and cable, and fiber to the home is available in only small parts of its territory.
Armstrong also said more customers leave when they face "pricing transitions", apparently the price increases after promotional offers expire. The company has been refining its offers and retention strategies in response.
Restructuring plan
Cavanagh said Comcast has begun the most significant operating and cost transformation in its history, which he believes will ultimately be worth billions of dollars over time. Armstrong said the organizational changes will lead to a "significant charge" of more than $1 billion in the fourth-quarter earnings report.
