Comcast shares slide 6.6% as CFO warns broadband losses show no signs of easing

  • Comcast CFO Jason Armstrong warned broadband attrition shows no signs of easing this quarter.
  • Comcast could approach 167,000 broadband losses, versus analysts’ roughly 103,000 estimate.
  • Rival providers advertise gigabit plans ranging from $25 to $60 monthly.

Comcast shares fell 6.6% to close at $24.59 on Wednesday after Chief Financial Officer Jason Armstrong said broadband subscriber attrition shows no signs of abating in the current quarter. He cited aggressive rival discounting, including gigabit internet offers priced at $30 to $40 a month, which he said undermines the economics of continued network investment. The stock fell as much as 8% intraday to $24.19, while Charter Communications dropped 8.1% and Verizon Communications also came under pressure. Armstrong's warning suggests Comcast could report broadband net losses approaching the 167,000 customers lost in the second quarter, compared with roughly 103,000 expected by analysts for the third quarter. Consensus estimates had called for 89,000 domestic residential broadband losses in the third quarter of 2026, versus 91,000 in the same period a year earlier, while KeyBanc forecast a 125,000-customer decline. The pricing battle spans cable and wireless providers bundling home internet with mobile services. Comcast markets a gigabit Xfinity plan at $50 monthly, compared with Charter's $60 promotional Spectrum offer, Verizon Fios pricing starting at $30 and reaching $80 for gigabit service, and Optimum Communications' $25 gigabit fiber offer in the New York area. Armstrong said Comcast sees room for modest third-quarter EBITDA improvement and better broadband trends for the full year, but also reported continuing softness at the company's Orlando theme parks. Comcast is separately pursuing a planned separation of its media assets from its connectivity businesses, while investors continue to monitor broadband losses, pricing and spending pressures.

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Comcast shares slide 6.6% as CFO warns broadband losses show no signs of easing - CoinPost Terminal