Investors, however, were cheered by news of a $4 billion stock buyback and sent the shares up $3.52, or 6 percent, to $63.18 in morning trading Thursday.
Cable executives have so far dismissed the idea that “cord-cutting” is due to the encroachment of the Internet and the ever-increasing options for watching video online. Rather, executives blamed the speedup in subscriber flight on the weak economy.
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