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Charter Communications Shares Plunge 18% Amid Broadband Subscriber Losses
Charter Communications Shares Plunge 18% Amid Broadband Subscriber Losses
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BTCCSquare news:
Charter Communications Inc. (NASDAQ: CHTR) saw its stock plummet 18.49% to $309.75 following a disappointing Q2 earnings report. The company lost 117,000 internet subscribers, marking a continued decline in its broadband business despite a competitive market. Revenue remained flat at $13.7 billion, though net income ROSE 5.7% year-on-year to $1.3 billion, attributed to cost controls and lower interest expenses.
Mobile line additions provided a rare bright spot, with 500,000 new Spectrum Mobile lines—a 25% annual increase. Video subscriber losses also slowed significantly compared to the previous year. Free cash FLOW dropped by $250 million, while the company allocated $1.7 billion to share buybacks.
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