Is Comcast Experiencing a Goldilocks Moment in Broadband?

Comcast lost 34,000 broadband customers across consumer and business channels in the fourth quarter and bled 64,000 subscribers for the full 2023, results that might have tanked the cable company's stock in previous quarters. But the company’s shares are up nearly 4 percent. Sure, good news from theme parks and streaming platform Peacock have a lot to do with that. But a shift in cable investor thinking continues to occur, according to top telecom-industry analyst Craig Moffett. “We’ve long argued that cable investors are no longer counting on a ‘re-acceleration’ in broadband net additions. They simply want to see broadband net adds or losses that are predictable enough to allow focus to shift elsewhere. Most importantly, on broadband ARPU.” In an earnings call, Comcast CEO Mike Cavanagh spoke of his company's broadband business in resolute terms. There's a belief among management that multi-billion investments in DOCSIS 4.0 cable technology, along with aggressive government subsidies fueling increased passings will soon rekindle customer expansion. Cavanagh said "As I look back on 2023, I am confident that our strategy combined with excellent execution sets us up extremely well to navigate the road ahead."