02:31 PM EST, 12/09/2024 (MT Newswires) -- Comcast ( CMCSA ) shares dropped more than 9% in recent trading Monday after a company executive said broadband subscription losses are expected to exceed 100,000 in Q4.

The impact from Hurricanes Milton and Helene disrupting businesses after making landfall in quick succession is expected to contribute to the subscription loss, Comcast Cable ( CMCSA ) President and Chief Executive David N. Watson said at the UBS Global Media and Communications Conference.

This compares to losses of just under 100,000 per quarter in H1.

About 10,000 losses are directly tied to the hurricanes, the company said, while a slight impact on average revenue per user, ARPU, is also expected. This will bring the ARPU to the lower end of its 3% to 4% range, Watson said.

Price: 39.15, Change: -4.00, Percent Change: -9.27