Charter Q1 Profit Jumps But Video Subscriber Losses Continue
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deadline.comBy Dade Hayes Finance Editor Charter Communications reported a 68% rise in diluted earnings per share in the first quarter as its total revenue climbed 5% to $11.7 billion, meeting Wall Street analysts’ expectations.
Earnings reached $1.86 per share, compared with $1.11 in the same quarter a year ago. Adjusted EBITDA rose 8% to $4.5 billion.
While its financial results were solid and its broadband business is thriving during COVID-19, the No. 2 U.S. cable operator shed 70,000 video subscribers in the period.
While that was an improvement over the 152,000 a year ago, it illustrates how cord-cutting and -shaving continues to reshape the cable business.
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