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Comcast is losing internet customers for the first time

PHILADELPHIA — Brian Roberts at Comcast sealed a deal with Microsoft mogul Bill Gates in 1997 for $1 billion to modernize Comcast’s cable network for the internet, leading Comcast to sell high-speed broadband to tens of millions of homes, apartments and businesses over the next 25 years.

Quarter after quarter, Comcast added hundreds of thousands of broadband customers — and those high broadband numbers were celebrated with a higher company stock price.

Until last week.

That’s when Comcast reported its first quarterly broadband loss ever. It shed 10,000 residential internet customers between March and June. And 30,000 more customers fell away in the first weeks of July. Comcast’s stock has dropped sharply — 11% — since it told Wall Street last Thursday.

Could the great…


Read the Full Article Here The Seattle Times

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