Editor’s note: We’re updating our Live Marketing & Advertising Earnings Tracker in real time. Check out how Comcast stacks up against competitors like Netflix—and what their earnings say about the state of advertising.

The news: Political ad spend is masking weakness in Comcast’s advertising business.

Comcast’s residential connectivity and platform revenues grew 2.9% YoY in Q3 2026—but strong domestic political advertising was offset by “lower domestic nonpolitical advertising.”

The trend: Political spending has been a lifeline for legacy TV advertising.

• Political ad spending remains heavily concentrated in traditional media: We forecast 65.3% of political spending will go toward channels like broadcast and cable TV.