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Communication Services Shares Fall as Comcast Warns of Slower Growth — Communication Services Roundup

Communications-services companies fell as a sector giant warned of slowing growth.

Cable giant Comcast said it was experiencing a slowdown in its cable business after surging growth in the early stages of the coronavirus pandemic, a warning that triggered a slide in the company's stock price. Cable peers, such as Charter Communications, Altice USA and Cable One, were also lower.

Comcast Chief Financial Officer Mike Cavanagh said that subscriber additions for Comcast's cable business - which consists of the Xfinity-branded broadband, pay-TV, landline and mobile phone units - slowed at the end of last month, and lags behind the same period in 2019. His comments follow recent quarters of strong subscriber growth.

Universal Music Group will have a market capitalization of about EUR33 billion when the world's largest music company starts trading on the Euronext Amsterdam stock exchange next Tuesday, its listing prospectus shows.

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(END) Dow Jones Newswires

September 14, 2021 17:33 ET (21:33 GMT)

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