Down Nearly 40%, Is Comcast Stock a Buy?
Entertainment and telco giant Comcast (NASDAQ: CMCSA) is facing a new problem. Yes, the loss of cable TV customers is a sore spot, but cord-cutting is hardly a new headwind. The new headache is the underlying reason its cable TV business has been steadily shrinking since 2013.
The problem is broadband, or the high-speed internet connection that makes streaming video possible. Once a growth driver that offset TV customer losses, Comcast's broadband business growth is slowing to a crawl. Until this problem is fully resolved, Comcast's stock remains a tough one to own.
It's not exactly disastrous, to be clear. Comcast's Xfinity-branded broadband service technically added customers during the third quarter of the year. The net addition of 14,000 high-speed internet subscribers, however, is only a tiny fraction of the 32.2 million consumer and business broadband customers the company currently serves. That total headcount hasn't meaningfully grown for a couple of quarters now, either.
Source Fool.com
