Advertisement
U.S. markets close in 55 minutes
  • S&P 500

    5,076.00
    +6.47 (+0.13%)
     
  • Dow 30

    38,954.48
    -114.75 (-0.29%)
     
  • Nasdaq

    16,036.14
    +59.89 (+0.37%)
     
  • Russell 2000

    2,051.82
    +22.85 (+1.13%)
     
  • Crude Oil

    78.76
    +1.18 (+1.52%)
     
  • Gold

    2,039.30
    +0.40 (+0.02%)
     
  • Silver

    22.48
    -0.05 (-0.20%)
     
  • EUR/USD

    1.0846
    -0.0007 (-0.07%)
     
  • 10-Yr Bond

    4.3190
    +0.0200 (+0.47%)
     
  • GBP/USD

    1.2679
    -0.0008 (-0.06%)
     
  • USD/JPY

    150.5180
    -0.1340 (-0.09%)
     
  • Bitcoin USD

    57,181.48
    +2,671.65 (+4.90%)
     
  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     
  • FTSE 100

    7,683.02
    -1.28 (-0.02%)
     
  • Nikkei 225

    39,239.52
    +5.81 (+0.01%)
     

Comcast to raise prices for its Xfinity programs

Illustration shows small toy figures with laptops and smartphones in front of displayed Comcast logo

(Reuters) - Comcast is raising prices for its Xfinity program, the media giant said on Wednesday, as it looks to offset high programming costs.

Xfinity provides video, broadband and phone services.

Bloomberg News earlier reported that on average, subscribers will see a 3% increase in prices.

The price for internet-only service will increase by $3 a month, the report added.

"Rising programming costs continue to drive the highest increase in customers' bills," the company told Reuters, adding that it is investing in its broadband network.

Peers Verizon Communications and AT&T also raised prices earlier this year. Verizon raised prices on some of its wireless plans in August.

Comcast forecast higher broadband losses after the number of customers unexpectedly declined in the third quarter amid tough competition, overshadowing the strong performance of its streaming and parks businesses.

(Reporting by Arsheeya Bajwa in Bengaluru and Dawn Chmielewski in New York; Editing by Shailesh Kuber)

Advertisement