Charter Communications Misses Q1 Earnings, Completes $4B Share Buyback
Benzinga
Apr 30, 2021
Charter Communications Inc (NASDAQ: CHTR) reported first-quarter FY21 revenue growth of 6.7% year-on-year to $12.5 billion, meeting the analyst target estimate of $12.5 billion.
Residential and mobile revenue posted a 5.8% and 90.7% growth, respectively.
The company added 355,000 Internet customers in Q1, and 2 million over the last year, for year-over-year growth of 7.3%, said Chair and CEO Tom Rutledge.
The total number of internet customers rose 7.3% to 29.2 million, while total video customers remained flat at 16.1 million.
Total voice customers remained flattish at 10.4 million, and total mobile lines subs rose 95% to 2.7 million.
EPS of $4.11 missed analyst estimate of $4.26. Adjusted EBITDA rose 12.5% to $4.9 billion.
The company held $772 million in cash and equivalents. It generated $3.8 billion in operating cash flow.
Charter repurchased $4 billion shares during the quarter.
Price action: CHTR shares are trading lower by 0.49% at $666.66 on the last check Friday.
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