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Why Comcast Stock Tanked Today

Rich Smith, The Motley Fool
·1-min read
Why Comcast Stock Tanked Today

Shares of Comcast (NASDAQ: CMCSA) turned "red" on a "green" day for the stock market -- and Comcast has only itself to blame for it. As of 1:11 p.m. ET, Comcast stock is down an even 5%. In a business update revealed at UBS' investor conference today, Comcast CEO Brian Roberts advised that the company will be looking at just 7% to 8% growth in earnings before interest, taxes, depreciation, and amortization (EBITDA) when it reports earnings next month, according to StreetInsider.com.

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