Comcast Shares Slide as CFO Flags $30-$40 Gigabit Pricing
Updated
Updated · Bloomberg · Sep 9
Comcast Shares Slide as CFO Flags $30-$40 Gigabit Pricing
1 articles · Updated · Bloomberg · Sep 9
Summary
$30-to-$40 monthly gigabit broadband offers from rivals pushed Comcast shares lower after CFO Jason Armstrong said subscriber losses show no improvement this quarter.
Armstrong said competitors are selling 1-gigabit-per-second service at prices he called irrational, making it difficult for Comcast to demonstrate a return on investment.
The comments point to continued pressure in Comcast's core broadband business as aggressive discounting keeps luring customers away.