Charter Loses as Many as 60,000 Subscribers
From Bloomberg News
Charter Communications Corp. said it lost as many as 60,000 basic cable customers in the third quarter, the fourth consecutive quarterly decline.
Sales rose about 7.5% during the quarter, excluding results from cable-TV systems that were sold, the St. Louis-based company said of the preliminary results. Charter had revenue of $1.16 billion a year ago. The company said it expected to post profit excluding interest, taxes, depreciation and amortization of $464 million, unchanged from a year earlier.
Charter said it won as many as 110,000 new high-speed Internet subscribers and 40,000 new digital-TV customers during the third quarter, fewer than a year earlier.
Shares of Charter fell 5 cents to $2.66 on Nasdaq.
