Comcast Corp (CMCSA)

Comcast Corporation Stock (CMCSA) dropped by 8.42% from $42.75 to $39.15 in the trading on Thursday October 26, 2023. The reason why CMCSA stock down today include:

• Customer losses: Comcast delivered results in Q3 2023 today, but the company reported a loss of 18,000 residential broadband customers in the third quarter and warned losses will be larger in the fourth quarter as Americans continue to drop traditional cable TV for streaming services. It seemed to weigh on the stock as did the broader market sell-off, causing CMCSA stock down today.
• Decreased ad revenue: U.S. advertising sales fell 8.4% to $1.9 billion. Theatrical revenue fell 25% to $504 million.