Why Comcast Stock Sank Today

Core Insights - Charter Communications' Q2 report led to a significant sell-off in Comcast stock, which closed down 4.8% despite a positive broader market performance [1][2][4] - Charter reported earnings per share of $9.18 on sales of $13.77 billion, with earnings falling short of expectations by $0.48 per share and a loss of 111,000 internet customers, raising concerns for Comcast [4] - Comcast's upcoming Q2 results on July 31 will be closely scrutinized, particularly regarding its internet subscriber performance [5] Financial Performance - Charter's sales met market expectations, but its earnings per share were lower than anticipated, contributing to negative sentiment in the telecom sector [4] - The loss of 111,000 internet customers by Charter was significantly worse than the expected loss of 73,250, indicating potential industry-wide challenges [4] Market Reaction - Following Charter's report, Comcast's stock experienced a notable decline, reflecting investor concerns about potential similar trends in Comcast's subscriber base [2][6] - The stock is down 10% year to date and is trading at a price-to-earnings (P/E) ratio of 7.8, suggesting it may be of interest to value-oriented investors [6]