Comcast Business balances SMB challenges by pursuing mid-size and large business growth
Key Highlights
- Comcast Business is focusing on medium and large enterprises, seeing greater potential beyond SMBs.
- The company leads in the U.S. SD-WAN market, climbing from #8 in 2018 to the top position in 2024.
- Revenue from enterprise solutions increased by 5.8% YoY, driven by new services and acquisitions like Nitel.
- Comcast is expanding its DIA services to 1 million locations as part of an $80 billion network investment.
- Wireless growth continues with 1.5 million new lines in 2025, and plans to expand T-Mobile MVNO relationships in 2026.
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Comcast Business may see larger businesses, a market that’s been traditionally dominated by Tier 1 ILECs like AT&T and Verizon, as having greater market potential.
But in the near term, cable MSOs continue to face challenges from aggressive fixed-wireless players in the small- to medium-sized business segments.
Verizon, for one, reported that it added 319,000 fixed wireless customers in the fourth quarter of 2025, bringing its base to over 5.7 million fixed wireless access subscribers.
Speaking to investors during its fourth-quarter earnings call, Jason Armstrong, Comcast's CFO, said the company will continue to differentiate through service bundles that include value-added services such as cybersecurity and mobile.
“In SMB, competitive intensity remains elevated, particularly from fixed wireless, but we're driving higher ARPU through increased adoption of advanced services, including cybersecurity and Comcast Business Mobile,” he said.
Deepening wireless, advanced services
As Comcast Business navigates a challenging SMB climate, it sees greater potential among medium- and large-enterprise customers.
The service provider has continued to enhance its business services portfolio, expanding the reach of offerings such as Dedicated Internet Access (DIA). Last February, it announced plans to expand DIA to 1 million new business locations, leveraging its wide-reaching fiber and traditional coax network infrastructure
At the time, Comcast Business said the move was part of a broader $80 billion investment in network innovation over the last decade to satisfy business customers' needs for DIA services.
Comcast Business has also been enhancing its profile in the growing SD-WAN segment. It took the top position on Vertical Systems Group’s 2024 U.S. SD-WAN LEADERBOARD for the first time.
The research firm noted that Comcast Business has “steadily ascended in this market segment from the #8 position in 2018.”
These elements will continue to make Comcast Business a strong case for larger businesses seeking a provider that can deliver solutions to accommodate a diverse set of business sites.
“Enterprise Solutions continues to gain traction as we expand our customer base and deepen our relationships,” Armstrong said. “This remains an area of investment and an important growth driver going forward.”
In addition to its growing wireline services, wireless is another potential growth area for Comcast Business. While it did not break out business wireless results, it’s notable that Comcast gained 1.5 million new net wireless lines, reaching 9.3 million total lines in 2025.
Comcast Business is poised to gain more share in the wireless business market through its MVNO relationship with T-Mobile. “In 2026, we look forward to expanding our business mobile relationships through our T-Mobile MVNO,” Armstrong said.
Enterprise drives revenue gains
Within the Comcast Business unit, enterprise customers drove fourth-quarter revenue growth.
Driven by an increase in revenue from enterprise solutions offerings, including the results from a recent acquisition, Comcast Business's revenues rose 5.8% year-over-year and 3% quarterly to $2.59 billion.
Last April, Comcast Business completed its acquisition of network-as-a-service (NaaS) provider Nitel, deepening its cloud-based network capabilities. Nitel specializes in delivering advanced managed services and connectivity solutions to enterprise customers across the U.S.
“Results continue to reflect the dynamic we've been seeing for several quarters, with modest revenue growth in our small and medium business segment and strong momentum at our Enterprise Solutions business,” Armstrong said.
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Sean Buckley
Sean is responsible for establishing and executing the editorial strategy of Lightwave across its website, email newsletters, events, and other information products.