Downturn for Comcast


Cable giant Comcast disappointed Wall Street with a 54% drop in Q3 net income, although that was up 2% excluding special gains for the quarter a year earlier. Even so, investors had been expecting better. The problem is slowing sales of so-called "triple-play" packages, bundling cable TV, broadband Internet and digital telephone service. Comcast’s Q3 results were actually in line with analysts expectations overall, but the stock took a sizeable drop because the company’s guidance for Q4 included a 10% drop in FCF, whereas the Street had been expecting cash flow to be flat with last year.