Charter Reports Slower Customer Growth In Q4, But Results Clear Wall Street Bar

deadline.com:

Charter Communications beat Wall Street’s estimates for earnings in the fourth quarter, but the company reported a slowdown in acquiring internet and video customers.Net income of $6.05 per share nearly doubled the $3.28 of a year ago and far surpassed analysts’ consensus expectation for $4.83.

Revenue essentially matched forecasts at $12.6 billion for the quarter, up from $11.7 billion in the same period in 2019.The company, which is the No.

2 cable provider in the U.S., added 19,000 video customers, a reversal of the year-earlier quarter’s decline of 484,000. When TV is combined with internet, the company’s overall customer relationships grew at a slower rate than it did a year earlier, with 167,000 more customers joining the fold.