Shares of Charter Communications Inc. were down nearly 6% in premarket trade on Thursday after the telecommunications company reported third-quarter earnings below Wall Street expectations and a loss of 104,000 TV subscribers. The company reported net income of $48 million, or 19 cents per share, compared with $189 million, or 69 cents per share during the same quarter a year ago. FactSet’s per-share earnings consensus was 98 cents. Revenue for the quarter was $10.46 billion, up from $10.04 billion a year ago, but below FactSet’s $10.49 billion consensus. Charter’s TV subscriber losses accelerated in the quarter. The company lost 104,000 TV subscribers in the quarter, compared with 51,000 last year. Customer additions for its internet business, where it added 249,000, helped offset overall declines. Shares of Charter Communications are up nearly 20% in the year to date, while the S&P 500 index is up more than 14% and the Dow Jones Industrial Average is up 18%.
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