Comcast Forecasting 100K Broadband Subscriber Losses in Q4

WASHINGTON, Dec. 9, 2024 – Comcast expects to report more than 100,000 broadband subscriber losses in the fourth quarter, a top executive said Monday.

The forecast, which caught Wall Street off guard, reflected competitive pressure the cable industry has been facing from fixed wireless broadband by the major mobile carriers and from fiber ISPs encroaching on their markets. Comcast stock dropped more than 9 percent this morning.

The broadband market “remains competitively intense,” Comcast Cable President and CEO Dave Watson said. “That has not changed, it’s been pretty consistent throughout the year. In particular in the more price-conscious end of the marketplace.”