In its fourth quarter, Comcast reported a troubling loss of 139,000 broadband subscribers, largely attributed to strong competition from telecom companies bundling 5G services with internet subscriptions. This decline was significant and unexpected, surpassing market predictions. However, Comcast's overall performance was buoyed by a 2.1% increase in total revenue, attributed to the success of its film releases like 'Wicked' and a robust studio segment. In response to subscriber losses, Comcast plans to introduce new pricing packages and continue its $15 billion share repurchase program.
Comcast's steep decline in broadband subscribers was exacerbated by competition from telecom firms bundling 5G services with internet as well as Hurricane disruptions.
Despite losing 139,000 broadband customers, Comcast reported a 2.1% increase in total revenue, aided by strong performances from its studio segment and a $15 billion share buyback.
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