Comcast Warns of Over 100,000 Broadband Subscriber Losses in Q4, Shares Plunge

CEO Dave Watson attributes subscriber decline to intense competition, weather disruptions, and market dynamics as stock drops over 8%.

Comcast Cable CEO Dave Watson announced the company expects to lose over 100,000 broadband subscribers in the fourth quarter of 2024, exceeding Wall Street's projected loss of 63,300.
The decline is attributed to increased competition from mobile providers, weather-related disruptions caused by Hurricanes Milton and Helene, and broader market challenges.
Comcast shares fell more than 8% following the announcement, marking the largest intraday drop since April 2024.
The company also reported a continued decline in TV subscribers, losing 365,000 in the third quarter, as more consumers shift to streaming services.
Despite challenges, Comcast highlighted its new multi-year distribution deal with Warner Bros. Discovery and plans to expand broadband coverage to 1.2 million new homes in 2025.