Cable revenue grew 1.4% to $16.64 billion, narrowly missing analysts’ estimates of $16.67 billion.
Comcast lost 440,000 video subscribers in the quarter, fewer than Factset’s estimated loss of 548,000, as the trend of cable TV cord-cutting continued. The company also lost 26,000 broadband customers in the quarter, compared with Factset’s estimated loss of 40,000 customers.
Excluding the areas affected by Hurricane Ian, which struck Florida in late September, the company reported a net gain of 4,000 broadband customers.
Competition from wireless carriers such as T-Mobile US Inc and Verizon Communications Inc, which offer 5G home-internet service that users can choose instead of broadband connections, has posed a threat to cable operators like Comcast.
The company has also attributed broadband subscriber declines to fewer…
