Comcast shares plunge as 'Wicked' success offset by big subscriber losses
The broadband subscriber losses overshadowed the telecom and media giant’s upbeat results and the announcement of a $15 billion share buyback program.
Comcast reported a steep decline in broadband subscribers for the fourth quarter on Thursday on competition from telecom firms that have been bundling 5G mobile services with internet plans, sending its shares about 11% lower.
The broadband subscriber losses overshadowed the telecom and media giant’s upbeat results and the announcement of a $15 billion share buyback program.