Comcast executives said the company's focus would shift to growing its mobile business after a bigger-than-expected loss of broadband customers. Broadband customer growth has lagged in recent quarters as competition from wireless providers has ramped up.

Comcast has described the loss of 139,000 broadband subscribers in the fourth quarter as disappointing. The performance cast a shadow over the success of Wicked for the Sky owner. The movie, at over $700 million at the global box office, has become the highest grossing film based on a Broadway musical.

Comcast Corp. shares fell 11% to their lowest level in more than two years after the company reported broadband subscriber losses that exceeded expectations and said “intense” competition in that business would continue.