Charter has shed 80,000 TV subs in the last quarter while also cutting losses. The company, that has unveiled a merger deal with Cox Communications, also lost 117,000 Internet customers and added 500,000 mobile subscribers.

It was actually an improvement for Charter. The company lost 408,000 video subscribers and 149,000 Internet customers in the same year-earlier period, in part due to the end of Affordable Connectivity Program government subsidies for low-income households.

That wasn’t enough for investors, with continuing customer losses having sent shares in Charter tumbling 11 percent. Charter continues to face stiff competition from fibre providers and satellite and streaming services.

Charter serves 12.6 million total video customers. Overall revenue was flat, having grown 0.6 percent to $13.76 billion, while net income attributable to Charter shareholders rose 5.7 percent to $1.3 billion in the second quarter. TV video revenue fell 10 percent to $3.5 billion.

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