Reported 2 days ago
Comcast's stock plunged by 7.5% after CEO Dave Watson warned that the company anticipates losing over 100,000 broadband subscribers in Q4, significantly exceeding Wall Street's prediction of a 63,300 decline. This downturn follows a competitive landscape intensified by mobile providers like Verizon and T-Mobile gaining subscribers, alongside previous losses of 87,000 customers in Q3. Additionally, Comcast reported a decrease in TV viewers due to the rise of streaming services, prompting plans to spin off its cable properties.
Source: YAHOO