Why Comcast Stock Dropped Today

Shares of Comcast (NASDAQ: CMCSA) fell 9.1% on Thursday after the cable and entertainment colossus said its broadband subscriber growth was stalling.

Comcast's revenue rose 5.1% to $30 billion in the second quarter. The company's studios and theme-park segments rebounded as more people returned to movie theaters and resorts.

Yet Comcast's broadband business saw its new-customer account growth come to a halt amid heightened competition from the likes of T-Mobile and AT&T. Wall Street had expected Comcast to add 84,000 broadband subscribers during the quarter.

Source Fool.com