Comcast Faces Subscriber Losses and Stock Decline

Comcast's stock plunged to a two-year low as the company reported losing 139,000 broadband subscribers, exceeding the expected 100,000, despite strong financial results. The company's Q4 earnings per share of $0.96 surpassed estimates, with revenue rising 2% year-over-year to $31.92 billion, marking record financial performance. Revenue from Comcast's Peacock streaming service increased 28%, though its EBITDA losses were significant. The company's Content & Experiences division and Studios unit saw notable revenue growth, driven by successful box office performances. Despite shedding 389,000 video customers, Comcast's strategic focus has shifted towards higher-margin businesses like broadband and wireless. Concerned investors are watching the sustainability of stock price movements given subscriber losses and Comcast's decision to spin off most of its cable TV networks into a standalone entity by year-end.