Charter Reports Second-Quarter Loss as Video Losses Accumulate
This article is for subscribers only.
Charter Communications Inc., the fourth-largest U.S. cable company, reported a second-quarter loss as TV subscriber defections exceeded analyst projections.
Charter’s net loss widened to $96 million, or 96 cents a share, from $83 million, or 84 cents, a year earlier, the Stamford, Connecticut-based company said in a statement. Sales were $1.97 billion, compared with the average analyst estimate of $1.96 billion, according to data compiled by Bloomberg.