Comcast warns of broadband challenges amid rising competition

Comcast’s mainstay broadband business is likely to face more customer losses to rising competition in the industry, its newly appointed co-CEO warned, taking the shine off a strong quarter that was fueled by growth in its studio and theme park units.

The third-quarter results had sent shares up as much as 4% premarket on Thursday, before the prediction knocked them down 3.7% by late morning.