Comcast
CMCSA
Comcast’s bread-and-butter broadband Internet business has seen softness in recent quarters. For example, over Q4 2022, excluding the impact of hurricanes, the company said that it added just about 4,000 broadband customers. There have been a couple of trends impacting the business. Firstly, the boom witnessed through the Covid-19 pandemic and the remote working and learning trend has cooled off. Moreover, competition has been mounting from fixed wireless broadband players, who offer more flexibility and affordable rates. Wireless major T-Mobile actually added the most broadband subscribers last year. Although we don’t expect this trend to continue in the long run, given that wireless capacity is more limited compared to Comcast’s wireline broadband, the trend could continue to impact Comcast in the near term.
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