Charter Communications Stock Falls After Bigger-Than-Expected Broadband Losses
Charter Communications Inc. shares dropped Friday after the company revealed it lost more internet customers than analysts had projected during the second quarter, highlighting growing competition from 5G and fiber-based home internet services.
The Connecticut-based broadband and pay-TV provider reported a loss of 111,000 residential high-speed internet subscribers in the three months ended June 30. Wall Street had anticipated a smaller decline of about 73,250 customers.
Charter also continued to lose video subscribers, shedding 73,000 customers during the quarter. While still negative, that figure was better than expected and marked an improvement compared with the same period last year.
The results reflect the mounting pressure traditional cable operators face as wireless carriers and fiber providers expand aggressively into the home broadband market.
Charter Communications Inc. shares dropped Friday after the company revealed it lost more internet customers than analysts had projected during the second quarter, highlighting growing competition from 5G and fiber-based home internet services. The Connecticut-based broadband and pay-TV provider reported a loss of 111,000 residential high-speed internet subscribers in the three months ended June 30.…
Charter Communications Inc. shares dropped Friday after the company revealed it lost more internet customers than analysts had projected during the second quarter, highlighting growing competition from 5G and fiber-based home internet services. The Connecticut-based broadband and pay-TV provider reported a loss of 111,000 residential high-speed internet subscribers in the three months ended June 30.…