Charter Communications shares tumbled after the company reported it lost more internet customers than expected during the second quarter, according to Bloomberg. The loss comes amid increased pressure from mobile companies’ 5G and fiber home internet offerings. Charter lost 111,000 residential internet customers, exceeding analyst expectations of 73,250. Charter reported earnings per share of $9.18, missing the $9.82 estimate, while revenue met expectations at $13.8 billion. Major U.S. telecom companies gained internet subscribers by bundling wireless service with 5G or fiber offerings, amid declining cable TV viewership. Shares fell 8.4% in early Friday trading.
