Comcast (CMCSA) Q2 2026: Broadband Revenue Falls 5.5% as ARPU Slides 3.9%

Comcast's broadband business — the engine that funds everything else — is now losing revenue roughly three times faster than it is losing customers. Domestic broadband revenue fell 5.5% to $6.28 billion in the second quarter while the domestic broadband customer base shrank only 1.7% year over year to 28.49 million, implying a derived monthly revenue per customer of about $73.5 versus $76.5 a year earlier. That gap is not an accident: management states it simplified broadband pricing and began offering a free wireless line for one year to new and existing customers, a deliberate decision to defend volume with price. Quarterly subscriber losses did narrow to 167,000 from 201,000, so the retention strategy is producing something — but the reported 68.3% collapse in net income is almost entirely optical, driven by a $9.4 billion Hulu sale gain booked in the prior-year quarter.