Charter Shares Plummet After Broadband Losses And Q1 Earnings Disappoint Wall Street
UPDATED with closing prices. Charter Communications shares plummeted 25.5% Friday, their biggest single-day sell-off, after the company delivered first-quarter results that disappointed Wall Street. Earnings per share of $9.17 on a diluted basis fell well short of analysts’ consensus estimate of $10.63. Total revenue dipped 1% to $13.6 billion, hitting the Street’s target. Charter lost…