Communications services companies fell after weak earnings from two industry leaders.
Comcast shares fell sharply after the cable operator failed to gain broadband subscribers for the first time in its history, a sign that Internet service providers are hitting a wall after years of solid subscriber growth in that business.
Shares of Facebook parent Meta Platforms fell after the company posted its first ever decline in quarterly revenue, and said ad spending deteriorated in all industries.
Shares of French media conglomerate Vivendi fell after it reported earnings short of some investors' expectations. Vivendi is considering divestment of its book publishing business Editis to avert potential competition concerns as part of its bid to take over smaller French rival Lagardere, the owner of book publisher Hachette.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
07-28-22 1716ET
