Comcast Corp. shares slid Wednesday after Chief Financial Officer Jason Armstrong said he sees no improvement in broadband subscriber losses in the current quarter. The company is facing intense competition from rivals offering lower prices.

Armstrong noted that competitors are offering broadband access at rates of $30 to $40 per month for speeds of 1 gigabyte per second, making it difficult for Comcast to show a return on investment while matching those prices.

The comments suggest the cable giant's struggles in its core broadband business are far from over, as it continues to lose customers to cheaper alternatives. The stock decline reflects investor concern over the company's ability to stabilize its subscriber base.