Why Shares of Comcast Stumbled 13.3% in the First Half of 2020
Shares of Comcast (NASDAQ: CMCSA) fell 13.3% in the first half of 2020, according to data from S&P Global Market Intelligence. The communications and media conglomerate posted mixed results in the first quarter, as the company's core broadband products remained robust, while its media operations reported significant reductions amid the coronavirus pandemic.
While Comcast's Xfinity broadband services are in great demand in the stay-at-home economy, its cable division is suffering as a result of cord-cutting, the lack of live sports, and advertising declines. And, of course, the company's Universal Studios theme parks and theatrical releases took massive hits during the lockdowns.
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Source Fool.com
