11:22 AM EST, 01/30/2025 (MT Newswires) -- Comcast ( CMCSA ) reported a sharper fourth-quarter loss in domestic broadband subscribers than it previously expected, and said there's likely no competitive relief in sight.

Domestic broadband customers fell by 139,000 to 31.8 million in the quarter, driven by a sharp decline in residential users. President Michael Cavanagh called the subscriber loss "disappointing" and worse than the media and connectivity giant's December guidance.

"Competitive conditions remain intense, dynamic and varied across our footprint and customer segments, and we see no signs of this changing in the near-term," he told analysts on a conference call with analysts, according to a FactSet transcript.

Shares of Comcast ( CMCSA ) plunged 12% in Thursday trade.

Revenue increased to $31.92 billion for the three months ended Dec. 31 from $31.25 billion the year earlier and beat the $31.61 billion average analyst estimate on FactSet. Adjusted earnings per share advanced to $0.96 from $0.84 and topped the $0.86 consensus.

In Comcast's ( CMCSA ) connectivity and platforms segment, revenue edged up to $20.46 billion from $20.42 billion.

Content and experiences revenue climbed 5% to $12.08 billion led by gains in media and studios. Within media, domestic advertising and distribution increased, with the company's streaming platform Peacock notching gains in paid subscribers.

"To put 2024 in perspective, we dealt with potentially the most competitive environment we faced in broadband, saw an unexpected but significant temporary slowdown in theme parks and made major investments in our key growth initiatives," Chief Financial Officer Jason Armstrong said on the call.

For 2025, Armstrong said the company intends to "lean into wireless" through added investments. Comcast ( CMCSA ) expects to continue improving Peacock's losses before interest, taxes, depreciation and amortization, he said.

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