Comcast's Cable TV Woes Continue Into Q3: Here's Why It Doesn't Matter
Another quarter is in the books for media and entertainment outfit Comcast (NASDAQ: CMCSA). As one might have expected, its movie and theme park businesses continue to heal from the impact of the pandemic. But its cable television business continues to implode.
All told, Comcast's cable service -- you know it as Xfinity -- shed another 408,000 customers last quarter, bringing the attrition figure up to nearly 1.3 million through the first three quarters of the current fiscal year. That's more cable subscribers than it had lost through the first three quarters of last year when COVID-19 lockdowns gave consumers plenty of time and reason to cancel their cable service and look for cheaper alternatives.
That's a problem for an organization predominantly considered a "cable company."
Source Fool.com
