Business
Comcast warns of pressures in broadband, its cornerstone unit
UNIVERSAL STUDIOS, ORLANDO, FLORIDA, UNITED STATES – 2019/07/18: Comcast sign logo in the wall of a building at Universal Studios. (Photo by Roberto Machado Noa/LightRocket via Getty Images)
Roberto Machado Noa | Lightrocket | Getty Images
Comcast topped Wall Street earnings and revenue estimates for the third quarter on Thursday, but revealed widespread pressures in its broadband unit that spooked investors.
The company said it lost 104,000 domestic broadband customers during the period, bringing its total subscriber base to roughly 31.4 million. This marked the fourth quarter in a row that Comcast failed to grow its broadband customer base.
Earlier this year the company outlined initiatives meant to drive broadband growth — the cornerstone of Comcast’s business — as it has faced fraught competition from alternative providers, namely 5G companies. The company, soon to be led by co-CEOs Brian Roberts and Mike Cavanagh, will be even more reliant on connectivity in the new year after its planned Versant transaction to offload cable network assets.
During Thursday’s call with investors, Cavanagh reiterated the “broadband environment remains intensely competitive.”
Comcast leadership said the broadband business will experience a decline in earnings as its strategy to focus on the mobile business, simplify pricing bundles and enhance broadband-related products and WiFi is put into effect. That decrease began this quarter and will carry through future quarters, the said.
CFO Jason Armstrong also said the division’s average revenue per user, or ARPU, wasn’t expected to grow as the company focuses on initiatives to maintain and grow its customer base. As broadband subscriber additions have slowed or reversed, Comcast has typically focused on the company’s rising ARPU, which is driven by price increases and upselling packages.
The change in broadband playbook means the bright spot that was once rising ARPU doesn’t exist in the near term for Comcast.
“As we’ve said from the beginning, this pivot carries several costs, including rate reinvestment through pricing simplicity, which carries revenue dilution as well as investment in customer experience, which carries additional operating costs,” Armstrong said on Thursday’s call.
This marked the first quarter in which those costs hit Comcast’s results, Armstrong said. It translated to a 3.5% decline in earnings before interest, taxes, depreciation and amortization across the company’s connectivity and platforms business – made up broadband, mobile, pay TV and other services.
Revenue for the company’s overall connectivity and platforms business came in at $20.18 billion, down nearly 1% from the same period last year.
“On the other side of this, we’re positioning ourselves for growth with a more durable broadband customer base,” Armstrong said.
The refocusing of the broadband strategy also aligned with a leadership change for the unit.
On Thursday, Comcast announced Steve Croney would take over as CEO of the connectivity and platforms division, succeeding longtime leader Dave Watson. Croney has been serving as the chief operating officer of the group amid its new strategic push.
While Comcast has moved toward mobile, that customer base has grown. Comcast said Thursday it added a record number of mobile customers – 414,000 during the third quarter, bringing its total to 8.9 million lines.
Meanwhile, the exodus from the pay TV bundle continued, with Comcast reporting the segment lost 257,000 customers during the period. As of Sept. 30, Comcast had 11.5 million domestic pay TV customers.
Shares of the company closed down 4% on Thursday. In the last year, Comcast shares have fallen about 35%.
Beyond broadband
Comcast’s overall business, which consists of the Xfinity-branded broadband, cable TV and mobile group as well as NBCUniversal, outperformed Wall Street’s estimates.
Here’s how Comcast performed for the period compared with average analyst estimates, according to LSEG:
- Earnings per share: $1.12 adjusted vs. $1.10 expected
- Revenue: $31.2 billion vs. $30.70 billion expected
For the quarter ended Sept. 30, net income attributable to Comcast decreased 8% to $3.33 billion, or 90 cents per share, compared with $3.63 billion, or 94 cents per share, a year earlier.
Adjusting for one-time items, such as interest expense and the value of certain assets, Comcast reported earnings per share of $1.12 for the quarter.
The company’s adjusted EBITDA was down roughly 1% to $9.7 billion.
Overall revenue fell nearly 3% to $31.2 billion, compared with $32.1 billion in the same period last year.
Revenue for the company’s media unit, which houses NBCUniversal, was $6.6 billion, down almost 20% during the period.
Excluding the impact of the Summer Olympics, which took place during the same period last year, revenue was up 4% year over year.
The media division reported EBITDA of $832 million, up 28% year over year, driven in part by streaming service Peacock.
Peacock, which had 41 million subscribers as of Sept. 30 — essentially flat for the last three quarters — reported losses of $217 million for the quarter, an improvement from $436 million in losses during the same period last year.
In October NBCUniversal’s media rights deal with the NBA kicked off, bringing professional basketball back to broadcast network NBC and introducing it to Peacock. The addition of the NBA is expected to give Peacock a boost.
Meanwhile, revenue for the film studio was up 6% to $3 billion – boosted by the release of “Jurassic World Rebirth” in July.
Theme park revenue increased nearly 19% to $2.72 billion, with EBITDA for that unit up 13% to $958 million due to the opening of Epic Universe in May.
Disclosure: Comcast is the parent company of NBCUniversal, which owns CNBC. Versant would become the new parent company of CNBC upon Comcast’s planned spinoff of Versant.
Business
US-China soybean trade to resume: Beijing agrees to buy 25 mn tonnes for next 3 years; more nations will buy American soy, says Bessent – The Times of India
Soybean trade between the US and China is set to resume after months of halted purchases. Beijing had refused to purchase American soybean after the two nations got embroiled in tariff tensions.Now, China has agreed to buy 12 million metric tonnes from the United States in the ongoing season till January. However, this is still significantly lower than the 22.5 million tonnes purchased in the previous season.US treasury secretary Scott Bessent confirmed the development on Thursday, saying China has also committed to purchasing 25 million tonnes annually over the next three years under a broader trade agreement. The commitment was reached following talks between US President Donald Trump and Chinese President Xi Jinping in South Korea.The decline in Chinese purchases came as a hit for the US farmers who lost billions in sales. The deal would, hence, come as a return to normalcy with the top US soybean importer. Over the past five crop years, China’s annual purchases averaged 28.8 million tonnes from September to August, Reuters reported.“Our great soybean farmers, who the Chinese used as political pawns – that’s off the table, and they should prosper in the years to come,” Bessent said on Fox Business Network’s Mornings with Maria. He further added that the agreement negotiated in Malaysia over the weekend could be formally signed as early as next week.Alongside China’s commitments, Bessent said other Southeast Asian countries have agreed to buy an additional 19 million tonnes of US soybeans, though he did not specify the timeframe or which countries are involved. According to US Census Bureau data, other Asian importers typically purchase between 8 and 10 million tonnes annually.The commodity markets responded immediately. The most-active soybean contract on the Chicago Board of Trade erased earlier losses and finished 1.2% higher, settling at a 15-month peak of $11.07-3/4 per bushel. Export prices for US soybeans have surged by $20 to $30 per metric tonne this week, driven by expectations of renewed Chinese demand after the Trump–Xi meeting. Roughly 180,000 tonnes, three cargoes, were sold to state trader COFCO just before the summit.Relief among American farmersFarm groups have welcomed the breakthrough after the prolonged trade war slashed soy exports that were worth $24.5 billion last year. US farmers are nearing completion of what is expected to be the fifth-largest soybean harvest on record, but weak Chinese demand and rising costs for fertiliser, seed, labour and machinery have squeezed farm incomes.“This is a meaningful step forward to reestablishing a stable, long-term trading relationship that delivers results for farm families and future generations,” American Soybean Association President and Kentucky farmer Caleb Ragland told Reuters.The breakthrough comes after Trump secured agricultural trade understandings with other Asian economies. American Farm Bureau Federation President Zippy Duvall said, “Expanding markets and restoring purchases by China will provide some certainty for farmers who are struggling just to hold on.”China diversifies soybean purchasesTrump announced on social media after the meeting with Xi that China had authorised purchases of “massive amounts” of soybeans, sorghum and other US farm products. US Agriculture Secretary Brooke Rollins later praised Trump’s comment in a post on X.However, analysts say the arrangement largely resets the trade relationship to previous levels rather than marking an expansion. Even Rogers Pay, director at Beijing-based Trivium China, said the agreement “effectively constituted a return to business as usual”, adding, “It targets a level of trade that has been pretty consistent with the past few years.”Further details will determine whether private Chinese importers return to the US market. Johnny Xiang, founder of Beijing-based AgRadar Consulting, said commercial buyers are waiting to see if soybean tariffs will be lowered from 20% to 10%, or removed entirely.“If the tariff is not completely lifted, commercial buyers will have little incentive to purchase US soybeans,” he told Reuters.China, the world’s largest soybean importer, used its massive demand as leverage during the earlier Trump-era trade war. Facing tariffs of 23%, Chinese buyers shifted towards South American suppliers. Since then, China has intentionally diversified its import sources. Customs data shows that in 2024, only 20% of China’s soybean imports came from the United States, a steep drop from 41% in 2016.
Last Updated:
During repayment, two terms often confuse borrowers — loan closure and loan settlement. Both sound like the same thing: paying off the loan. But they’re not.
The impact is long-term. Your credit score takes a significant hit, and banks classify you as a risky borrower (Image: Canva)
In today’s world, loans have become part of life — whether it’s buying a house, a car, funding education, or even managing a wedding. Getting a loan feels easy and rewarding when the amount hits your account, but the real challenge begins when the monthly EMI cycle starts. Most people plan extensively before taking a loan, but not nearly enough when it comes to repaying it smartly.
During repayment, two terms often confuse borrowers — loan closure and loan settlement. Both sound like the same thing: paying off the loan. But they’re not. The difference between them can decide how healthy your credit score looks in the years to come.
What Loan Settlement Really Means
Imagine you take a loan of Rs 1 lakh but, due to financial strain, can’t keep up with your EMIs. You go to the bank and say, “I can’t pay the full amount. Take Rs 70,000 and close my loan.” The bank, realizing it might not get more, agrees and marks your account as settled.
You may feel relieved, but this settlement comes at a cost — your credit health. The bank writes off the remaining Rs 30,000, but your credit report (CIBIL) will clearly show the loan as settled, not closed. In the eyes of future lenders, this means you didn’t pay back what you owed in full.
The impact is long-term. Your credit score takes a significant hit, and banks classify you as a risky borrower. The next time you apply for a home loan or car loan, lenders may hesitate or approve it at a much higher interest rate. What looked like a quick fix can become a financial roadblock for years.
What Proper Loan Closure Looks Like
Loan closure is the clean way out. It simply means you repay every rupee you borrowed — the principal plus all the interest — till the end of your loan term. You can do this by continuing your regular EMIs until the loan tenure ends, or by prepaying the outstanding balance early (called foreclosure). Either way, the bank will mark your account as closed once you’ve cleared everything.
After the loan is closed, the bank issues a No Objection Certificate (NOC) or Loan Closure Letter. This document is proof that you’ve fulfilled your repayment responsibility. When lenders see a closed loan in your credit report, they recognize you as a disciplined, low-risk borrower. Your credit score improves, and future loans become easier and cheaper to access.
The Long-Term Difference Between the Two
The short-term benefit of a settlement (paying less) is quickly overshadowed by its long-term damage. In contrast, a closure might feel tougher in the moment but rewards you in the long run.
| Aspect | Loan Settlement | Loan Closure |
| What happens | Partial payment accepted by bank | Full repayment of loan and interest |
| Credit Report | Marked as “Settled” | Marked as “Closed” |
| Effect on Credit Score | Sharp drop (negative impact) | Positive impact |
| Future Loans | Difficult to get or higher interest | Easier, lower interest |
| Documents | None or settlement letter | NOC or closure certificate |
What You Should Do if You Can’t Pay
If your finances are tight, don’t rush to request a settlement. That’s like putting a permanent dent in your financial credibility. Instead, approach your bank and ask about loan restructuring.
Many banks offer flexible repayment plans — extending your tenure, reducing EMIs, or offering short-term relief until your income stabilizes. This way, your credit score remains protected.
You can also consider using your savings, investments, or even selling idle assets to repay your loan completely. Once you clear the full amount, your credit profile becomes stronger, not weaker.
Why It Matters More Than You Think
Your credit score isn’t just about loans — it’s your financial identity. A single “settled” loan entry can affect your chances of getting credit cards, housing finance, or even business funding. On the other hand, a “closed” loan builds trust with banks and signals that you’re financially responsible.
It’s easy to get tempted by shortcuts when the EMI burden feels heavy. But remember, financial decisions made in crisis can echo for years. The smarter move is to plan ahead, restructure wisely, and aim for closure — not settlement.
The News Desk is a team of passionate editors and writers who break and analyse the most important events unfolding in India and abroad. From live updates to exclusive reports to in-depth explainers, the Desk d…Read More
The News Desk is a team of passionate editors and writers who break and analyse the most important events unfolding in India and abroad. From live updates to exclusive reports to in-depth explainers, the Desk d… Read More
October 31, 2025, 11:03 IST
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Business
Asian stocks today: Markets trade mixed following Wall Street’s drop; Nikkei climbs over 700 points, HSI falls 0.89% – The Times of India
Asian shares are trading mixed on Friday after the Wall Street sank from record heights despite United States’s trade truce with China and profits of Big Tech giants exceeded expectations.Taiwan’s benchmark added 104 points or 0.37% to reach 28,392 at 10:31 AM IST. Japan’s Nikkei led the gains, jumping over 790 points to reach 52,118.Kospi also traded in green, up 25 points at 4,112.In Chinese markets, Hong Kong’s HSI fell 232 points reaching 26,050.08. Shanghai and Shenzhen also dropped 0.63% and 0.62%, respectively. Fresh data showed that China’s factory sector shrank again in October, marking the seventh consecutive month of contraction. The official NBS Manufacturing PMI slipped to 49.0, down from September’s 49.8.US futures edged higher on Friday, while oil prices slipped. President Donald Trump praised his Thursday conversation with Chinese President Xi Jinping, though key disputes between the world’s two largest economies continue to hang over the talks.Global stock markets turned mixed after a closely watched meeting between the leaders of the world’s two biggest economies. Trump described his meeting with Xi Jinping as a “12” on a scale of zero to 10 and said he planned to cut tariffs. However, shares had already climbed to record levels on expectations of even bigger progress in easing trade tensions between Washington and Beijing. Big Tech earnings also struggled under the weight of lofty expectations. Meta Platforms tumbled 11.3%, erasing part of its 28.4% gain earlier in the year and becoming the biggest drag on the S&P 500. In early trading, US benchmark crude slipped 42 cents to $60.15 a barrel, while Brent crude, the global benchmark, also declined 42 cents, to $63.95. On the currency front, the US dollar eased to 153.95 yen from 154.14 yen, and the euro inched up to $1.1573 from $1.1566.
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