🔴 Charter Communications is trading 7.5% down today after Q2 results showed accelerated broadband subscriber losses

Charter Communications is trading 7.5% down at $117 after its second-quarter results revealed worsening broadband erosion and missed expectations.

• Revenue fell 1.7% year-over-year to $13.5 billion, while adjusted EBITDA dropped 4.3% to $5.4 billion.
• The company lost 172,000 internet customers during the quarter, a faster decline than the previous year and worse than analyst estimates.
• Shares are facing additional pressure from intensifying fiber and satellite competition alongside a generally weak sentiment backdrop for the telecom sector.