Comcast Falls as Internet, TV Customer Losses Top Estimates (2)

Comcast Corp. shares fell to their lowest level in 2 1/2 years after the company reported first-quarter losses of pay-TV and broadband customers that exceeded analysts’ estimates, a reflection of the growing competition from streaming and wireless providers.

Comcast, the largest US cable provider, lost 199,000 domestic broadband customers during the first quarter, according to a statement Thursday, steeper than analysts’ estimates of 144,500. Pay-TV customers shrank by 427,000, compared with Wall Street projections for a loss of 409,300.

“We are not winning the marketplace in a way that is commensurate with the strength of the network,” President Mike Cavanagh ...