Charter sheds more broadband customers than expected in first quarter

April 24 (Reuters) - Charter ‌Communications ​on ​Friday reported more broadband customer losses in the first quarter than ‌analysts estimated, as telecom rivals offered ⁠aggressive promotional deals to draw users away from ‌traditional cable internet.

The company's ‌shares fell more than 18% to a near four-month low.

• Charter lost ​120,000 broadband customers during the quarter, compared with an estimated loss of ⁠100,036 users, according to Visible Alpha.

• The company's video customers ​decreased by 60,000, less than the estimated decline of 85,872, thanks ​to simplified pricing and ‌packaging. Charter had 12.5 million total video customers at the end ⁠of first quarter.

• Aggressive promotion of fixed-wireless home internet by U.S. wireless carriers has ⁠intensified competitive pressure on cable operators.

• Total quarterly ​revenue was $13.60 billion, while analysts estimated $13.55 billion, according to data compiled by LSEG.

• Charter added ‌368,000 mobile lines, compared with an expected increase of 431,920 lines.

• ‌The Federal Communications Commission had approved ⁠Charter's $34.5 billion acquisition ‌of Cox Communications ​in February.

(Reporting by Harshita Mary Varghese in Bengaluru; Editing by Shilpi ‌Majumdar )

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