Charter Communications 1Q Profit, Revenue Rise
May 01 2020 - 7:56AM
Dow Jones News
By Dave Sebastian
Charter Communications Inc. said its profit for the first
quarter rose along with revenue.
The Stamford, Conn.-based company on Friday posted net income of
$396 million, or $1.86 a share, compared with $253 million, or
$1.11 a share, in the comparable quarter last year. Analysts polled
by FactSet were expecting earnings of $2.77 a share. The company
launched offers and programs related to Covid-19 during the
quarter.
The internet, cable and phone provider said revenue rose 4.8% to
$11.74 billion from $11.21 billion in the same period last year.
Analysts were looking for $11.78 billion.
Advertising sales revenue, excluding political revenue, fell
5.9% from a year ago due to Covid-19-related cancellations in
March, though overall advertising sales revenue rose 5.7%.
Charter said it added 486,000 residential and
small-and-medium-business customers, compared with 351,000 in the
same quarter last year.
The company added 582,000 residential internet customers for the
quarter, compared with 428,000 in the same period last year.
The money Charter makes per residential customer, excluding
mobile, increased 0.2% to $112.73.
Write to Dave Sebastian at dave.sebastian@wsj.com
(END) Dow Jones Newswires
May 01, 2020 07:41 ET (11:41 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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