Comcast's stock price drops as executive admits broadband market is highly competitive.

• During a conference on Monday, Comcast Cable CEO Dave Watson revealed that the company anticipates losing over 100,000 broadband customers in the fourth quarter, which is consistent with the number of customers lost in the first half of the year.
• The CEO characterized the broadband market as highly competitive, particularly for price-sensitive customers.
• Comcast shares fell more than 8% Monday morning following the remarks.

On Monday, Dave Watson, the CEO of Cable, informed investors that the company anticipates losing over 100,000 broadband subscribers in the fourth quarter due to the intensely competitive market.

On Monday, at the UBS Global Media and Communications Conference, Watson's remarks caused Comcast shares to fall more than 8%.

The decline in cable broadband growth has been attributed to various factors, including the slowdown in the housing market and increased competition from wireless providers such as and.

Watson stated on Monday that the competition among price-conscious consumers has remained consistently intense throughout the year.

Watson observed that the fourth quarter is likely to mirror the first half of the year, during which the company lost approximately 100,000 customers per quarter.

Although cable subscriptions are still popular, Comcast's high-speed internet services have maintained a steady customer base.

Comcast reported a decline in losses during the third quarter, prompting his warning.

In October, the company announced that domestic broadband net losses totaled 87,000 during the third quarter. However, excluding the losses resulting from the conclusion of the government's Affordable Connectivity Program, which provided a discount to low-income households, the company estimated a growth of 9,000 customers.

Comcast had nearly 32 million domestic broadband customers as of Sept. 30.

On Monday, Watson attributed the third-quarter improvement to seasonality, specifically the return to school, which typically leads to better broadband numbers. Additionally, he noted that NBCUniversal's marketing of the Summer Olympics contributed to the improvement.

NBC Olympics, a subsidiary of NBCUniversal, which is owned by Comcast, holds the U.S. broadcast rights to all Summer and Winter Games through 2032.