Charter Reports Higher Than Expected Broadband Losses
The company lost 120,000 broadband customers this quarter as rivals offered aggressive deals. Revenue reached 13.6 billion dollars despite the subscriber dip.
CHARTER COMMUNICATIONS INC-A reported first-quarter results that highlighted a steeper-than-anticipated decline in its broadband subscriber base. The cable giant lost 120,000 broadband customers during the period, exceeding the 100,036 losses projected by analysts. This trend reflects the intensifying competitive landscape in the United States, where traditional cable providers are facing significant pressure from wireless carriers offering aggressive promotional deals for fixed-wireless home internet services.
Despite the challenges in broadband, the company saw a more moderate decline in its video segment. Video customers decreased by 60,000, a figure that came in lower than the estimated loss of 85,872. Management attributed this relative stability to the implementation of simplified pricing and packaging strategies. By the end of the first quarter, the company maintained a total of 12.5 million video customers.
