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Charter warns of further erosion in internet business, shares fall

Charter reported it lost more broadband subscribers than expected, offset by gains of more than 400,000 new mobile lines.

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Charter signaled further erosion in its internet business, a development that weighed on the stock, according to MarketWatch.

In the company’s latest update, Charter said it lost more broadband subscribers than expected, indicating continued pressure on its internet customer base.

At the same time, Charter reported it added more than 400,000 new mobile lines, highlighting growth in its wireless segment that partially offsets internet weakness, MarketWatch said.

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