Charter Communications Q1 results come up short of expectations

- Advertisement -
- Advertisement -
- Advertisement -
- Advertisement -

Charter Communications Inc. CHTR, +3.83% reported first-quarter results that came up short of expectations, as the COVID-19 pandemic led to advertising cancellations and higher customer service costs. Net cinome rose to $396 million, or $1.86 a share, from $253 million, or $1.11 a sahre, in the year-ago period. The FactSet consensus for earnings per share was $2.61. Revenue rose 4.8% to $11.74 billion, but was just below the FactSet consensus of $11.78 billion. Video revenue grew 0.9% to $4.42 billion to miss expectations of $4.45 billion and internet revenue rose 9.5% to $4.41 billion but was below expectations of $4.44 billion. The company added 290,000 Spectrum Mobile lines during the quarter. Charter said it spent $2.6 billion on share repurchases during the quarter. The stock, which was still inactive in premarket trading, has slipped 4.3% over the past three months, while the S&P 500 SPX, -1.76% has declined 9.7%.

Home of Science
Follow me

- Advertisement -

Discover

Sponsor

Latest

Amanda Staveley loses High Court fight with Barclays over damageson February 26, 2021 at 1:24 pm

A businesswoman who sued Barclays for hundreds of millions loses court case, but judge accuses bank of "deceit".image copyrightGetty ImagesA businesswoman who sued Barclays...

Trump shrugs off the brutal jobs report, focuses more on Michael Flynn case

KEY POINTS President Trump said he’s not to blame after the Labor Department reported a devastating loss of more than 20 million jobs in...

The Papers: Children ‘let down’ and holidays ‘under threat’on June 3, 2021 at 4:38 am

The front pages lead with reaction to school catch-up plans and warnings over Covid's potential impact on travel abroad.The front pages lead with reaction...

Tokyo Olympics: How GB swimmers roared their way to record success at Tokyo 2020on August 1, 2021 at 3:46 pm

From missed medal targets to funding cuts - how Team GB's swimmers have gone onto succeed in Japan and how bright does the future...

Nah he tweakin: What it means and why it’s all over our timelineson August 26, 2021 at 12:42 pm

A row on the use of blood in celebrity-endorsed products has made those three words viral.
Home of Science
Follow me