Comcast is losing broadband customers at a faster pace than a year ago, and its leadership is pointing to rivals' pricing as a major reason. The company reported a loss of 144,000 residential broadband customers in the third quarter of 2026, compared with 91,000 in the same period of 2025. The figures came in its latest earnings report, released on 2026-10-22.
The cable giant long benefited from a lack of competition in high-speed wired internet. That advantage is eroding. Fixed wireless providers are gaining ground, and fiber builders have moved into parts of Comcast's cable territory. Following the latest decline, Comcast has 28.3 million residential broadband customers in the United States. The company is also reported to be planning significant job cuts in its cable division as it continues to lose both broadband and TV subscribers.
On the earnings call, co-CEO Mike Cavanagh described the competitive picture bluntly. "Fixed wireless remains aggressive and continues to take share, while fiber construction remains elevated, with pockets of irrational pricing and promotional activity," he said.
CFO Jason Armstrong gave more detail on what the company considers irrational. He said some fiber operators offered broadband for $30 to $40 a month in specific markets during the third quarter. In his view, those prices do not make sense because fiber deployment costs $1,500 or more per home, and construction is becoming more expensive as builders move into suburban and rural areas. "As we look at the return profile of that, to us, that is irrational competition," Armstrong said.
Armstrong did not name any competitor. Verizon, however, has been promoting FiOS fiber plans that start at $30 a month. Comcast's own network mixes fiber and cable, and it offers fiber-to-the-home in only small portions of its cable footprint.
Armstrong also said more customers are leaving when they hit what he called "pricing transitions," which appears to refer to the rate increases that follow the end of promotional offers. He said the company has been refining its offers and retention strategies to handle those moments better and keep more customers.
Satellite internet, for now, is not a major concern. Cavanagh said it is "not yet a material factor" in the competition Comcast faces. He added that the company is focused on "anticipating emerging forms of competition and positioning our business to respond as the market evolves."
To reverse the slide, Comcast says it has started a broad overhaul. "We've embarked on the most significant operating and cost transformation in our company's history, with an opportunity we believe will ultimately amount to billions of dollars over time," Cavanagh said. The organizational changes will carry a significant charge of more than $1 billion, which Armstrong said will be applied in the fourth quarter earnings report.
