Comcast is anticipating a soft third quarter in terms of subscribers partially due to the onslaught of hurricanes that are hitting the United States, according to one high-ranking executive.
Matt Strauss, executive vice president of Xfinity Services, said on Thursday that the company expects to see a loss between 100,000 and 150,000 subscribers, pinning the negative news on a number of factors.
“[It’s] due to the terrible storms we are seeing, which are affecting two of our divisions,” Strauss said during his stage time at the day’s Bank of America Merrill Lynch conference.
Strauss also blamed his tough competition, saying this quarter has been one of the most aggressive in recent memory. He also pointed out that Xfinity is looking at an increase in total customer relationships, “in the neighborhood of 100,000.”
Still, at their lowest point thus far today, Comcast shares (CMCSA) slipped just north of 7 percent. Here’s a snapshot of the U.S. stock market trading day for the NBCUniversal parent company:
Southern Texas was recently ravaged by Hurricane Harvey, a Category 4 which made landfall in late August. Comcast NBCUniversal donated $500,000 to Houston Mayor Sylvester Turner’s Hurricane Harvey Relief Fund and the American Red Cross and also opened air time to people looking to get the word out on relief efforts.
Hurricane Irma is set to hit Florida after traveling through the Caribbean, where it killed at least 13 people. And then there is Jose, which is also set to become a hurricane.
In another response to the recent hurricanes, Comcast announced that it would be opening more than 137,000 of its Florida WiFi hotspots, including non-Xfinity customers. The company is also on standby to restore services after Hurricane Irma’s path has cleared.
10 Hottest Movies for Sale in Toronto, From Bryan Cranston's 'Wakefield" to Bruce Lee Biopic (Photos)
"Wakefield"
Never underestimate Bryan Cranston's desire for the intense -- in "Wakefield," he plays a successful lawyer and family man who abandons his loved ones only to observe them at a distance from an attic above the garage.
"Girl Unbound"
This documentary is the true and inspiring story of Maria Toorpakai, a talented squash player who faces death threats and cultural upheaval in her quest to represent Pakistan in international competitions.
"Tramps"
In one of the most-discussed titles screening at TIFF, director Adam Leon sets us up on a sketchy errand to deliver a package, and winds up painting a romantic crime caper with a young man and woman.
"Birth of the Dragon"
This feature, set in San Francisco's Chinatown in 1960, chronicles the rise of Bruce Lee as a self-taught master of martial arts.
"The Promise"
Oscar Issac stars opposite Christian Bale and Charlotte Le Bon in the comeback of "Hotel Rwanada" director Terry George, about a love triangle set against the first World War.
"(re)Assignment"
Another of the most-discussed titles around this year, Walter Hill's action film was described by one buyer as "total madness." Michelle Rodriguez plays a male soldier who undergoes sexual reassignment surgery to become female, at the behest of her scheming superior officer (Sigourney Weaver).
"The Bleeder"
Liev Schreiber and Naomi Watts topline one of the starriest sales titles, a fact-based drama about a toxic bachelor and boxer.
"Carrie Pilby"
Indie sensation Bel Powley ("The Diary of a Teenage Girl") returns in Susan Johnson's portrait of a girl genius trying to find a normal life in Manhattan.
"Catfight"
Not only does this black comedy pit old high school friends Anne Heche and Sandra Oh against each other in a battle royale, the below-the-line talent on this project is almost exclusively female.
"Their Finest"
Director Lone Scherfig ("An Education") returns with a period rom-com centered on the making of an inspirational movie amid the Blitz of London in World War II.
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TheWrap quizzed buyers and sellers at TIFF’s film market for which titles have the most heat — and which will fetch top dollar
