By Dave Sebastian
Charter Communications Inc. (CHTR) said its profit more than doubled for the fourth quarter as revenue rose.
The Stamford, Conn.-based company on Friday posted net income of $714 million, or $3.28 a share, compared with $296 million, or $1.29 a share, in the comparable quarter last year. Analysts polled by FactSet were expecting earnings of $2.52 a share.
The internet, cable and phone provider said revenue rose to $11.76 billion from $11.23 billion from the same period last year, driven by growth in internet, mobile, video and small-and-medium-business revenue. Analysts were looking for $11.73 billion.
Charter added 268,000 residential and small-and-medium-business customers, compared with 248,000 in the same quarter last year.
The company added 313,000 residential internet customers for the quarter, compared with 289,000 in the same period last year.
The money Charter makes per residential customer, excluding mobile, increased 1.8%, to $113.79.
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