US subscribers reached 32.3 million. The comparison of the year-onyear figures shows that there was a decline of 18,000 subscribers. Wall Street, however, predicted an upsurge of 3,600 subscribers.
Yahoo Finance reported that Comcast management chalked the subscriber losses up to an increasingly competitive market, with mobile providers such as Verizon (VZ), T-Mobile (TMUS), and AT&T (T) flexing their offerings to target lower-income groups. All of these companies reported increases in subscriber numbers.
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Jason Armstrong (CFO of Comcast) stated that in an interview with analysts, the company wants to balance growth in broadband subscribers and growth in average revenue per customer (ARPU). The company’s revenue grew by 3.8% compared to its third-quarter performance in 2022.
Armstrong predicted that the final quarter’s books would reveal even more losses in subscribers. Comcast lost not only broadband subscribers, but also 490,000 US video subscribers, as cord-cutting continues to be a problem.
Comcast CEO and Chairman Brian L Roberts has highlighted positives…