Comcast shares fell Monday after Cable CEO called broadband 'competitively intense,' and expects to lose more than 100,000 customers in the fourth quarter.
Comcast is expecting to lose more than 100,000 broadband customers during the fourth quarter, mirroring the first half of the year, Comcast Cable CEO Dave Watson said during a conference Monday.
Comcast shares dropped more than 8% following Watson's remarks at the UBS Global Media and Communications Conference on Monday.. While executives have also pinned the drop on the slowdown in the buying and selling of homes — noting that there are fewer people signing up for cable when they get a new house — the ramped-up competition from wireless providers like
Watson noted that the fourth quarter is likely to reflect the first half of the year, when the company lost "just under 100,000" customers per quarter.
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