Charter Posts Slightly Better Revenues, Broadband Higher

Charter Communications posted rising overall first-quarter results -- slightly higher than analysts' estimates. Revenues were 5.1% higher to $11.2 billion, thanks to continued gains in its broadband/internet business.

Broadband added 9% to $4 billion, with total broadband users growing 5.1% (398,000) to 24 million residential customers -- up from 334,000 in the first quarter of 2018.

While Charter’s video customers witnessed another sizable decline -- down 2% (152,000) to total 15.95 million -- revenue was 2% higher to $4.4 billion. Charter’s average monthly consumer price for its video services was rose 1% to $112.47. Charter had a 121,000 decline in the first-quarter 2018.

Charter’s phone/voice revenue was down 10% to $504 million. It lost 3.4% of its subscribers (120,000) to total 10 million.

Advertising revenue was down 3.1% to $345 million, due to lower political advertising. Marketing spending for Charter was down 2% to $735 million.

Net income to Charter shareholders was up $253 million from $168 million. Charter’s stock was down 0.1% to $370.62 in mid-Tuesday trading.



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