12:12 PM EST, 01/15/2025 (MT Newswires) -- Charter Communications' ( CHTR ) Q4 performance was affected by natural disasters, including hurricanes and wildfires, that redirected capital expenditures from network evolution to facility restoration, RBC Capital Markets said in an earnings preview emailed Wednesday.

"Natural disasters took a bite of the business... Q4 internet subscriber numbers will include nearly 30,000 losses from hurricanes, as customers' homes need to be rebuilt," according to the firm.

RBC said that the company's Q4 residential internet losses are expected to be 120,000 more than initial estimates and video losses are projected to widen to 233,000.

Charter's redesigned rate card, which focuses on bundled offers with unified pricing for new customers, will enhance subscriber acquisition but is expected to pressure broadband average revenue per user, the firm added.

RBC reduced its price target on Charter's stock to $380 from $390 with a sector perform rating.

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