Comcast lost 199,000 total domestic broadband customers, reflecting the continued pressure on the cable giant’s cornerstone business.Comcast lost 199,000 total domestic broadband customers, reflecting the continued pressure on the cable giant’s cornerstone business.
Here’s how the company is expected to perform for the quarter according to average analyst estimates from LSEG:
- Earnings per share: 98 cents expected
- Revenue: $29.77 billion expected
Broadband customer growth has stalled for Comcast and its peers as competition has ramped up from alternative options.
Last quarter Comcast told investors it was switching gears to focus its strategy on growing its mobile business.
Comcast, along with Charter Communicationsa financial driver.
Despite the mobile growth, Comcast’s stock has suffered from the headwinds in broadband.
This week Comcast unveiled a new mobile plan, and it’s made a recent hire to help grow its Xfinity-branded services, which also includes pay TV.
On Thursday investors are sure to also pay attention for updates about NBCUniversal’s business, including Peacock subscriber growth and if advertising has been weighed down at all recently due to economic uncertainty.
Disclosure: Comcast owns NBCUniversal, the parent company of CNBC.
This story is developing. Please check back for updates.
