Why did Comcast's net profit drop in Q2 2024?

Comcast's net profit dropped in Q2 2024 due to several factors:

1. **Increased Competition in the Broadband Market**: Comcast's broadband business is facing increased competition from wireless carriers, which are leveraging their newly built 5G networks to offer fixed-wireless broadband services. This competition is leading to subscriber losses in Comcast's cable business.
2. **Decline in Housing Transactions**: The decline in housing transactions, resulting from high interest rates, has also impacted Comcast's broadband business. This decline has led to a decrease in new home broadband connections.

In summary, Comcast's net profit drop in Q2 2024 is primarily due to increased competition in the broadband market and decline in housing transactions.

|code|Ticker|Name|Date|Net Income YoY|Net Income|market_code|
|---|---|---|---|---|---|---|
|CMCSA|CMCSA.O|Comcast|2023 Q3|185.68060021436227|3.997E9|185|
|CMCSA|CMCSA.O|Comcast|2023 Q4|9.745910198398885|3.153E9|185|
|CMCSA|CMCSA.O|Comcast|2024 Q1|0.2654632333421821|3.777E9|185|
|CMCSA|CMCSA.O|Comcast|2024 Q2|-8.3552160420148|3.839E9|185|