Charter Q2 Results Echo Comcast’s, Beating Wall Street Expectations But Showing Rare Loss Of Broadband Subscribers
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deadline.comCharter 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 metrics above Wall Street expectations.
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.
Like other pay-TV 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.
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