Comcast Falls as NBC Owner Sheds Broadband, Cable Customers
- Comcast is seeking growth beyond its legacy cable-TV business
- Peacock streaming service adds 4 million subscribers in period
Signage is displayed inside Comcast Corp. headquarters in Philadelphia, Pennsylvania, U.S.
Photographer: Charles Mostoller/BloombergThis article is for subscribers only.
Comcast Corp. slid the most in more than a year after reporting drops in broadband and cable subscribers, and predicting more losses to come.
Cord-cutting and increasing competition have eroded Comcast’s traditional customer base. The company, which owns Xfinity, the NBCUniversal media empire and SkyTV, lost 490,000 cable-TV customers in the third quarter, better than analysts expected but part of an ongoing trend as consumers switch to streaming services like Netflix.