Comcast reported a steep decline in broadband subscribers for the fourth quarter on Thursday on competition from telecom firms that have been bundling 5G mobile services with internet plans, sending its shares about 11% lower.

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.

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.