Comcast Shares Tumble With Growing Loss of Broadband Customers
- Company faces expiration of federal internet subsidy program
- Peacock subscribers jump 55% in part due to NFL playoff game
Signage outside a Comcast Corp. Xfinity store in San Francisco.
Photographer: David Paul Morris/BloombergThis article is for subscribers only.
Comcast Corp. shares fell more than 7% Thursday after the cable-TV giant reported a steeper-than-expected loss of internet subscribers.
The company shed 65,000 broadband customers in the first quarter, more than the 47,000 loss analysts had expected. Comcast’s cable-TV business shrank by 487,000 customers, although that was better than Wall Street forecasts.