Charter Communications Faces Sharp Stock Decline and Broadband Subscriber Loss

The company's unexpected financial downturn and loss of broadband customers highlight challenges in a competitive market.

Charter Communications' stock fell sharply after reporting a significant miss in quarterly earnings and an unexpected loss of broadband subscribers.
The company lost 61,000 internet customers in the last quarter of 2023, contrary to analysts' expectations of a slight increase.
Charter also reported a loss of 248,000 residential video customers in the same period, partly due to a dispute with Disney.
CEO Chris Winfrey cited intense competition from fixed wireless and wireline overbuilds as a challenge but remains optimistic about overcoming these temporary issues.
Charter's efforts to modernize its distribution agreements and its launch of the Xumo streaming platform are part of its strategy to adapt to changing consumer demands.