Comcast Corporation (CMCSA) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, ladies and gentlemen, and welcome to Comcast's fourth quarter and full year 2025 earnings conference call. At this time, all participants are in listen-only mode. Please note this conference call is being recorded. I will now turn the call over to Executive Vice President, Investor Relations, Ms. Marcy Reibacher. Please go ahead, Ms. Reibacher. Thank you, Operator, and welcome, everyone. Joining us on today's call are Brian Roberts, Mike Kavanaugh, Jason Armstrong, and Steve Croney. I will now refer you to slide two of the presentation accompanying this call, which can also be found on our investor relations website and which contains our Save Harper disclaimer. This conference call may include forward-looking statements subject to certain risks and uncertainties. In addition, during this call, we will refer to certain non-GAAP financial measures. Please see our 8K and trending schedule issued earlier this morning for the reconciliations of these non-GAAP financial measures to GAAP. With that, I'll turn the call over to Brian. Good morning, everyone, and thanks for joining us. Before I turn the call over to Mike and Jason to walk you through our results, I want to take a moment to say a few words about the team and the year ahead. We're at an inflection point, both in our industry and at Comcast. The business is changing rapidly, competition has never been more intense, and the choices we're making right now matter. I feel very good about how we're positioned, and it really starts with our leadership. Steve Croney joins us for the first time on this call today. From day one running this business, he's challenged long-held assumptions and moved quickly to reset priorities around actions that will drive growth. We spent time last week at Steve's leadershi...