Comcast to cut cable jobs and take over $1 billion charge as broadband losses deepen
FROM THE WIRE · FINANCE.YAHOO.COM
Comcast Corp. plans to cut jobs in its cable, broadband and wireless business and expects to take a charge of more than $1 billion in the fourth quarter. The Philadelphia-based company is trying to stem customer losses and streamline before it spins off NBCUniversal next year.…
Read at the source ↗MARKET IMPACTNEUTRAL✦ News Impact agent estimateTone: expected bearishBroadband subscriber losses and restructuring costs weigh on the company's outlook.AI-generated summary
✦ IN BRIEF · AIAI-generated summary
- 01Comcast lost 144,000 domestic residential broadband customers in the third quarter, up from 91,000 a year earlier.
- 02The company expects a charge of more than $1 billion in the fourth quarter tied mostly to transformation.
- 03Revenue in connectivity and platforms fell 2.7% to nearly $19.7 billion.
- 04Comcast plans to spin off NBCUniversal next year.
NEWS IMPACT AND MARKET REACTIONChange since the story · reference
Impact and summary are estimates by the News Impact AI agent, not financial advice.Open in Markets