Charter Stock Sags As Pay-TV Losses Increase, Broadband Growth Moderates

deadline.com:

Charter Communications posted third-quarter results above Wall Street’s expectations, but its stock nevertheless lost ground in early trading.The No.

2 U.S. cable operator and major internet provider reported income of $6.50 a share, well above analysts’ estimates and an improvement from $3.90 in the year-ago quarter.

Revenue ticked up 9% to $13.15 billion.Shares in Charter slid almost 3% to about $685, though initial trading volume was light.

The stock has gained about 7% in 2021 to date.Charter said it shed 133,000 residential video customers in the quarter, compared with an increase of 53,000 in the same quarter in 2020.