Wall Street gave decidedly mixed reviews to Comcast‘s third-quarter earnings report, even though the numbers beat analysts’ expectations on both the top and bottom lines.
Shares in the media giant fell more than 8% to close at $39.15, in part due to investor angst over a surprising decline in broadband subscribers.
The total dropped 18,000 year-over-year to settle at 32.3 million, though analysts had forecast an increase of 3,600 subscribers.
The closing price is the stock’s lowest since June 6. While stocks across the media sector, including notables like Disney, Warner Bros.
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