Charter Communications Stock Drops 18% Following Q2 Results

(RTTNews) - Charter Communications, Inc. (CHTR) plummeted 17.53 percent to $313.38 during Friday's trading after posting second-quarter results that showed modest revenue growth but triggered investor concern.

The company reported total revenue of $13.77 billion, up slightly from $13.69 billion in the same quarter last year, while net income attributable to Charter shareholders increased to $1.30 billion from $1.23 billion.

The stock opened at $329.00 and traded between $309.81 and $335.52 on heavy volume of 6.02 million shares, significantly higher than its average of 1.31 million on the Nasdaq. Charter now sits at the bottom of its 52-week range of $309.81 to $437.06, reflecting heightened market volatility.