Comcast Shares Slide Amid Forecasted Broadband Subscriber Decline
Comcast shares fell over 8% after CEO Dave Watson announced the company expects to lose more than 100,000 broadband subscribers in the fourth quarter due to intense competition, particularly from wireless providers like Verizon and T-Mobile. The cable broadband market has been struggling, with fewer new home sign-ups and increased competition affecting growth. Despite these challenges, Comcast's higher-end internet packages remain stable. The company had nearly 32 million domestic broadband customers as of September 30.
