Charter Soars After Surprising Growth in TV Subscribers
- Video customer gains are a rarity in a swooning pay-TV sector
- Second-quarter profit and revenue also top analyst estimates
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Charter Communications Inc. shares hit a record after the cable company posted a surprising gain in TV and internet subscribers due in part to Covid-19 service offers and cheaper video packages.
The second-largest U.S. cable operator swung to a gain of 102,000 residential video subscribers and added 842,000 residential internet customers in the second quarter. Analysts had expected it to lose 129,000 video customers while adding 439,530 new broadband subscribers.