Charter Communications reported earnings of $1.39 a share, well short of Wall Street analysts’ forecast for $1.81. Shares in the No. 2 U.S. cable operator, which have run up 42% in 2019, drop…
reported earnings of $1.39 a share, well short of Wall Street analysts’ forecast for $1.81.
Video subscriber erosion continues to be a factor for the pay-TV business. Charter, which operates Spectrum systems, had 141,000 video net losses.During a conference call with analysts to discuss the results, CEO Tom Rutledge defended the traditional TV bundle and also warned of “continuous” carriage fights to come.
Given that programmers, who are in an arms race with Netflix and Amazon and others, have continued to ask for rate increases, Rutledge was asked why he doesn’t simply accept higher terms and pass the costs on to customers.
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