Cable television's cord-cutting headwinds have been blowing for some time now. But cable companies' growing broadband businesses -- which are a key driver of this cord-cutting movement -- help offset customer attrition. Now, broadband itself is running into an alarming headwind.
That's one of the key takeaways from the most recent quarterly updates posted by cable giants Comcast (NASDAQ: CMCSA) and Charter Communications (NASDAQ: CHTR) . The former lost high-speed internet customers during the final quarter of 2022, and while the latter added broadband subscribers, that growth is entirely attributable to bundling broadband with the company's budding mobile phone service. Without that help, Charter's broadband business would have likely continued running into the same wall it hit in the middle of last year.
Shareholders of either outfit should be concerned.
For further details see:
Comcast and Charter Have to Address This ... and Soon