Comcast executives touted upcoming split to Wall Street as cable networks prepare to separate from the rest of NBCUniversal.

Comcast shares dropped 12% Thursday morning after the company reported a loss of nearly 140,000 residential broadband customers in the fourth quarter and a stagnating subscriber base for its Peacock streaming service.

Wall Street will be paying attention to Comcast’s broadband, streaming and theme park businesses, as well as progress of the spinout of its cable TV networks.

Comcast's revenue and profit rose last quarter, powered partly by the release of blockbuster movie "Wicked,” despite falling broadband customer numbers. Comcast lost 139,000 broadband customers in the quarter,

Comcast (CMCSA) stock plummeted on Thursday despite the entertainment company posting strong earnings beats in its Q4 report. That starts with

In Q4, domestic broadband customers fell by 139,000 to 31.8 billion. The company lost 311,000 domestic video customers, which brought the total down to 12.1 million subscribers during the quarter, reflecting the diminishing landscape for cable TV.

The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 88 cents per share. Advertisement Article continues below this ad The cable provider posted revenue of $31.

Goldman Sachs lowered the firm’s price target on Comcast (CMCSA) to $44 from $50 and keeps a Buy rating on the shares. The company’s Q4

Wall Street is coming off a losing session after the Federal Reserve paused its interest rate-cutting campaign, leaving its borrowing rate unchanged in a range between 4.25% and 4.5%. In their postmeeting statement, policymakers noted that inflation remains "somewhat elevated."