×

UPDATE 1-Charter loses more than 100,000 video customers, shares plunge

(Adds details on video customer losses, capital expenditure, share price)

Oct 26 (Reuters) - Cable TV company Charter Communications Inc's quarterly profit missed analysts' estimates by a wide margin, as it lost thousands of video customers amid competition from streaming services such as Netflix and Hulu.

Shares of the company fell 8.2 percent to $316.74 in early trading on Thursday.

Charter lost 104,000 video customers in the third quarter ended Sept. 30, well above the 49,000 expected by analysts on average, according to research firm FactSet.

Net income attributable to shareholders fell to $48 million, or 19 cents per share, from $189 million, or 69 cents per share a year earlier.

Analysts had expected earnings of $1.02 per share, according to Thomson Reuters I/B/E/S.

Charter's capital expenditure increased 37 percent to $2.39 billion in the quarter.

Total revenue rose 4.2 percent to $10.46 billion, as Charter signed up more subscribers for its internet services. (Reporting by Arjun Panchadar in Bengaluru; Editing by Sai Sachin Ravikumar)