Amid continuing overall declines in the stock market, Charter’s stock was up 1.5% in early morning Friday trading to $567.76.
Residential internet customers grew 172,000 to total 28.1 million. It added 216,000 customers a year ago. Residential video subscribers dipped 71,000 versus a drop of 66,000 in the same quarter a year ago, to total 15.2 million.
Looking at the year as a whole, Charter dropped 3% in video subscribers -- a 423,000 net loss -- which is better than its nearest competitors. The day before, Comcast Corp. reported a yearly net subscriber loss of 1.5 million -- down 8% -- to 18.2 million.
Revenues from broadband/internet business was up 12% to $5.4 billion, with video revenue basically flat at $4.4 billion.
Concerning the latter, Charter says it maintained revenue stability due to lower-priced video packages, as well as some $31 million in sports network credits in regards to pandemic disruptions a year ago.
Comcast’s landline phone/voice customers fell 163,000 (to total 8.6 million). However, mobile phone subscribers were up 363,000 (to 3.5 million).
Advertising revenue sank a big -- but expected -- 28% in the fourth quarter to $448 million, due to the loss of high political-related advertising sales a year ago from the presidential election.
Overall, company-wide revenue for Charter was up 4.7% to $13.2 billion in the period. Net income to Charter shareholders grew 47% to $4.7 billion.