| Stage | CMCSA | % of rev | ADEA | % of rev | Gap · A − B |
|---|---|---|---|---|---|
| Revenue | $29.3B | 100.00% | $105M | 100.00% | CMCSA ×279.64 |
| Gross profit | $21.8B | 74.35% | $105M | 100.00% | ADEA +25.7pp |
| Operating income | $5.3B | 18.16% | $35M | 33.25% | ADEA +15.1pp |
| Pre-tax income | $4.4B | 15.18% | $28M | 26.70% | ADEA +11.5pp |
| Net income | $3.4B | 11.48% | $23M | 21.74% | ADEA +10.3pp |
| Stage | CMCSA | ADEA | Gap · A − B |
|---|---|---|---|
| Revenue | $29.3B100.00% | $105M100.00% | CMCSA ×279.64 |
| Gross profit | 74.35%$21.8B | 100.00%$105M | ADEA +25.7pp |
| Operating income | 18.16%$5.3B | 33.25%$35M | ADEA +15.1pp |
| Pre-tax income | 15.18%$4.4B | 26.70%$28M | ADEA +11.5pp |
| Net income |
| 11.48%$3.4B |
| 21.74%$23M |
| ADEA +10.3pp |
CMCSA 10-KFeb 3 '26
“Our domestic wireless services are offered over Verizon's wireless network and our existing network of secure residential, outdoor and business Wi-Fi hotspots, and are offered initially only as part of our bundled service offerings to customers that subscribe to our qualifying broadband services.”
ADEA 10-KFeb 26 '26
“Customers typically pay us a monthly per-subscriber fee and include many of the leading MVPDs and virtual MVPDs such as Charter, Comcast (including Sky), Cox, DISH Network (including Sling TV), Google (including YouTube TV), Hulu + Live TV, Optimum (formerly Altice USA), Verizon and Vodafone.”