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Charter Communications Inc.’s stock skidded to its largest drop on record Friday, after the Spectrum-branded cable TV and internet company missed profit expectations amid ongoing subscription cancellations and as investors continued to express disdain for its pending merger with Cox Communications Inc.
The company
CHTR said it had a net loss of 117,000 internet customers in the second quarter, bringing its total internet-customer count down to 29.9 million as of June 30. The losses in the quarter were much more than expected, as the average analyst estimate compiled by FactSet was for a loss of 70,400 subscribers.
This post was originally published on Market Watch
