CMCSA Stock Slides As Broadband Warning Triggers Analyst Target Cuts

Comcast Corp. (CMCSA) stock dropped 6.3% after CFO Jason Armstrong reported no improvement in broadband user losses in Q3, citing aggressive pricing from competitors. Charter Communications (CHTR) also fell 7.8%. Armstrong noted that low pricing is unsustainable for long-term investment. Despite Q3 EBITDA growth, Comcast faces challenges in cable and internet sign-ups, and its theme parks are seeing a slowdown due to macroeconomic factors. CMCSA stock is down 17% year-to-date.

Wells Fargo analyst Steven Cahall predicts SpaceX's wireless push will pressure telcos like AT&T, Verizon, and T-Mobile, while tower REITs and cable operators may benefit. SpaceX's Q2 revenue grew 66% YoY to $4.29B, and it gained 65MHz of EchoStar's spectrum. Tower REITs like American Tower, Crown Castle, and SBA Communications could see steady income, while Charter and Comcast may profit from Wi-Fi offload.

Comcast (CMCSA) shares fell 6.6% after its CFO warned of persistent broadband subscriber losses due to aggressive pricing by rivals. The company reported a net loss of 167,000 broadband subscribers in Q2, with analysts expecting further declines. Competitors like Charter (CHTR) and Verizon (VZ) are offering lower-priced gigabit plans, intensifying the market competition.

Comcast (CMCSA) shares fell 7% on Wednesday after its CFO noted subscriber losses in broadband and softness in Universal Studios. The company plans to spin off NBCUniversal next year, which recently turned its Peacock streaming service profitable.

Comcast Corp. (CMCSA) shares dropped 6.3% after CFO Jason Armstrong said broadband subscriber losses persist due to rival discounts. He called competitors' pricing 'unviable' for long-term investment. Charter Communications (CHTR) also fell 7.8%. Comcast expects minor full-year broadband gains and modest Q3 EBITDA growth, despite theme park slowdowns.

Comcast shares dropped 8.1% after CFO Jason Armstrong warned of continued broadband subscriber losses in Q3, though he expects full-year improvement. Analysts anticipated 103,000 subscriber losses, slightly better than last year. Peers like Charter Communications also declined.