Charter shares plunge after chief financial officer says company may lose broadband subscribers in fourth quarter
Publishing timestamp: 2023-12-05 16:00:27
Summary
Charter shares plunged after the company's CFO stated that they could lose broadband subscribers in the fourth quarter. The effects of higher interest rates and a dispute with Disney are contributing to the company's issues. Charter's competitor, Comcast, also saw its stock slide. Charter has been investing in expanding its broadband coverage, but the housing market slowdown has affected demand. The CFO believes Charter will return to subscriber growth and that a deal with Disney will drive competitiveness.
Sentiment: NEGATIVE
Keywords: media, charter communications inc, breaking news: business, entertainment, business news, comcast corp, internet, business, television, telecommunications,