Charter shares pop as subscriber losses come in lighter than feared
Charter Communications shares surged nearly 10% Friday — pacing as the top performer in the S&P 500 — after the company lost fewer pay-TV subscribers than Wall Street predicted. Charter’s Q1 revenue rose 0.4% to $13.74 billion, slightly ahead of estimates, while adjusted earnings per share hit $8.42 a share, slightly below the expected $8.43.
The Spectrum business lost 123,000 video customers last quarter, a sharp slowdown from the 257,000 it lost a year ago. Charter added 514,000 mobile lines, handily beating forecasts of 448,000 additions.
Cable’s not just for TV anymore — nearly half of all new wireless subscribers last year were from a cable operator, according to recent data, as operators bulk up their mobile and home internet offerings
Charter’s results came a day after rival Comcast lost another 427,000 cable customers, spooking investors as cord-cutting picks up. Charter shares are now positive on the year, up 6%.
The Spectrum business lost 123,000 video customers last quarter, a sharp slowdown from the 257,000 it lost a year ago. Charter added 514,000 mobile lines, handily beating forecasts of 448,000 additions.
Cable’s not just for TV anymore — nearly half of all new wireless subscribers last year were from a cable operator, according to recent data, as operators bulk up their mobile and home internet offerings
Charter’s results came a day after rival Comcast lost another 427,000 cable customers, spooking investors as cord-cutting picks up. Charter shares are now positive on the year, up 6%.
