Charter tops earnings expectations

Dow Jones
2021-07-30

MW Charter tops earnings expectations

Charter Communications Inc. [s; CHTR] topped earnings and revenue expectations Friday amid momentum in its internet, mobile, and advertising businesses. The company posted net income of $1.02 billion, or $5.29 a share, up from $766 million, or $3.63 a share, in the year-prior quarter. Analysts tracked by FactSet were projecting $4.79 in earnings per share. Charter's revenue for the period increased to $12.80 billion to $11.70 billion, whereas analysts were modeling $12.62 billion. Charter added 365,000 residential internet customers in the second quarter, compared with 842,000 in the second quarter of 2020 and 221,000 in the second quarter of 2019. Charter's residential video customers fell by 63,000, whereas the company posted an increase of 102,000 in the second quarter last year and a decrease of 150,000 in the second quarter of 2019. Charter shares have risen 6% over the past three months as the S&P 500 has increased 5%.

-Emily Bary

 

$(END)$ Dow Jones Newswires

July 30, 2021 07:33 ET (11:33 GMT)

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