Comcast Corporation shares fell 7% on Wednesday after its chief financial officer warned of persistent broadband subscriber losses and called fiber pricing "irrational." Speaking at the Goldman Sachs Communacopia + Technology Conference, CFO Jason Armstrong said the company expects no improvement in third-quarter broadband subscriber losses, though it still projects a "modest" improvement in EBITDA. KeyBanc analyst Brandon Nispel warned of downside risks, projecting 125,000 domestic residential net losses for the quarter, far worse than the consensus estimate of 89,000. Nispel noted that competitors offering gigabit speeds for $30 to $40 per month will prevent year-over-year improvement in Comcast's broadband net additions, and Charter Communications shares also fell 5% amid the broader sector sell-off.
Comcast CorpCFO warns of persistent broadband subscriber losses and no Q3 improvement
Charter Communications IncCharter shares fell 5% amid sector sell-off due to competitive fiber pricing pressures
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