'Largest cost transformation' in Comcast's history will save billions, says CFO

Comcast has sparked a plan to transform its cost structure and the overall business in a way that will save billions of dollars and enable Comcast to redirect those funds toward growth initiatives, CFO Jason Armstrong revealed at the Goldman Sachs Communacopia + Technology Conference. "We embarked earlier this month on the largest cost transformation in the company's history. This will be billions of dollars in costs," he said. "I frame it [as] more of a transformation. It's not a budget exercise. It is: How do we rewrite the rules of how we do business on the connectivity and technology side?" Armstrong also expressed dismay at the business models of some fiber builders. He referred to “irrational competition” from fiber builders who are pricing their connectivity for $30 or $40 for a 1 Gbps service. “That, to us, is not a rational price point.”