Comcast Shares Slide as Broadband Subscriber Losses Continue

Core Viewpoint - Comcast Corp. reported its 10th consecutive quarter of losses in broadband customers, with no expectation for a turnaround in the near future [1][3]. Subscriber Losses - In Q3, Comcast lost 104,000 net broadband subscribers, which was better than the anticipated loss of 140,000 [2]. - The connectivity unit, which includes broadband, saw a revenue decline of 1.4% and adjusted EBITDA decreased by 3.7% [2]. Competitive Environment - The broadband market remains highly competitive, with no immediate changes expected, as stated by co-CEO Mike Cavanagh [3]. - The company’s internet and cable-TV services are facing pressure from consumer shifts towards streaming services and alternative internet plans from competitors like Verizon, T-Mobile, and AT&T [4]. Strategic Responses - Comcast has introduced a new internet pricing program with a five-year price guarantee and is promoting its Xfinity wireless phone service [5]. - The company reported net mobile additions of 414,000 in Q3, exceeding estimates of 387,000 [6]. Future Outlook - Despite a reduction in broadband subscriber losses, ongoing promotions and price cuts are expected to continue impacting profits, as indicated by the decline in EBITDA [6]. - CFO Jason Armstrong emphasized the commitment to these changes for long-term customer satisfaction and retention, even if they create short-term pressure [7].