Comcast Bleeding Broadband Customers

Comcast reported results for the third quarter (Q3) ended September 30, 2023. The company reported the domestic broadband average rate per customer increased by 3.9 percent and drove domestic broadband revenue growth of 3.8 percent. Fierce reported that Comcast continued to lose broadband subscribers in the third quarter, with executives predicting slightly higher losses for Q4. However, the company touted an uptick in broadband average revenue per user (ARPU). Domestic broadband net losses were 18,000, a slight sequential improvement from 19,000 losses in Q2 but a sharp decline from the 19,000 net additions in Q3 2022. Total domestic wireless line net additions were 294,000 and total domestic video customer net losses were 490,000. As for passings, Comcast in Q3 reached over 62 million homes and businesses passed, representing a 1.5 percent year-on-year increase.