Charter Communications followed Comcast’s uneven financial report on Thursday with its own mixed batch of results, which featured an unusual decline in broadband subscribers but also key metr…
Revenue increased 6% to $13.6 billion, edging Wall Street analysts’ consensus forecast of $13.4 billion. Earnings per share of $8.80 far outpaced the Street view of $6.89.operators, the company continues to shed residential video customers, dropping 240,000 in the quarter to settle below 14.9 million. But the internet trends stood out in the quarterly report, with the number of residential customers declining by 42,000, compared with a gain of 365,000 in the year-ago quarter.
Analysts zeroed in on broadband throughout the Charter’s conference call to discuss the quarterly numbers. On Thursday, shares in the company plunged 8% after Comcast reported a flat quarter of broadband and they have dipped another 1% in early trading today. For large-scale internet providers like Comcast and Charter, broadband has been a profitable savior in recent years as pay-TV has continued its secular decline.
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