No. 4 cable provider Charter (CHTR) didn’t have the same kind of buoyant Q2 enjoyed by its peers Comcast (CMCSA) and Cablevision (CVC), missing analysts’ sales targets and showing slowing subscriber growth in some of its business lines. Shares are down 1.8% to $1.12.
Of note, Charter bucked the trend of cable companies posting very strong high-speed Internet subscriber growth. The company added 19,300 broadband subscribers during Q2, down from 60,300 net sub. additions during Q2 2007.
No big phone companies reported today, so Charter’s modest subscriber growth is still helping cable continue to dominate the Q2 broadband market: Cable accounts for 70.5% of Q2 broadband net subscriber additions — more than twice the phone industry’s 29.5% market share. (Updated chart embedded below.)
Charter’s Digital phone subscriber growth slowed, too. The company signed up 90,500 net new telephone customers last quarter, down from 127,700 during Q2 2007. One bright spot: Charter added 33,900 net new digital video subscribers, up from 7,600 a year ago.
Overall, the company posted $1.62 billion of Q2 revenue, narrowly missing the Street’s $1.63 billion consensus, and its $0.74 loss met the Street’s expectations.
Business Insider Emails & Alerts
Site highlights each day to your inbox.