Comcast (CMCSA) shares closed down nearly 10% Monday after Dave Watson, president and CEO of Comcast Cable, said the company expects broadband subscribers to decline by over 100,000 in the current quarter.
"If you look at the first half of the year, we lost just about 100,000 [broadband subscribers] — just under 100,000 per quarter for the first half of the year," Watson said Monday at a UBS media conference in New York City.
"You go into the third quarter and on the shoulders of the Olympic marketing surge, the students returning, the seasonal dynamics trending fine, and then a competitor strike. Those three things saw improvements in performance in Q3 [but the fourth quarter] resembles more of the first half of the year." In the third quarter, Comcast shed...
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