Comcast Reports Wider Broadband Losses
Comcast lost more broadband subscribers than expected in the third quarter as aggressive competition pressured its core business. Meanwhile, the media division posted revenue gains driven by streaming and theatrical releases.
Xurve View
Insights:
Xurve View
COMCAST CORP-CLASS A shed 144,000 broadband customers in the third quarter, missing estimates as rival price cuts intensified competition. The losses underscore mounting pressures on Comcast's core connectivity operations ahead of a planned media spinoff. Adjusted profit reached $1.07 per share, topping FactSet estimates of 98 cents.
