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Comcasts shares experienced a sharp decline after the corporation disclosed a more substantial-than-predicted decrease in broadband clients.
**Important highlights:**
* The decrease in broadband users was more severe than forecast, causing investors to flee.
* Comcast shed 139,000 clients, surpassing even the caution issued last month by Comcast Cable President Dave Watson.
* Regardless of the client loss, Comcasts Q4 profits and sales exceeded anticipations.
Comcast (CMCSA) shares plunged to their lowest point in more than two years on Thursday as the cable and media titan revealed a sharper-than-anticipated reduction in its customer base.
The corporation, which possesses NBC, the Peacock streaming platform, and Xfinity cable, reported a net decrease of 139,000 domestic broadband clients in Q4, bringing the total down to 31.8 million. This comprised a decrease of 131,000 residential clients and 8,000 commercial clients.
For context, Comcast Cable President Dave Watson had warned last month that the corporation was preparing for a decrease of approximately 100,000 broadband clients.
**Q4 Results Surpass Anticipations**
The announcement overshadowed otherwise robust Q4 results. Comcast reported adjusted profits per share (EPS) of $0.96 and income of $31.92 billion, a 2% rise year-over-year. Both figures exceeded Visible Alpha’s forecasts.
Connectivity and platform income increased 5% to $11.5 billion, while Peacock income soared 28% to $1.3 billion.
CEO Brian Roberts emphasized that Comcast attained its finest financial performance in its 60-year history, with record-high income, EBITDA, and EPS, alongside substantial free cash flow generation.
Comcasts share value plummeted by over 11% on Thursday morning. Over the past year, the corporation has shed nearly 30% of its value. Trump’s Proposal to Move Education Credits to SBA Raises Concerns
