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CHARTER COMMUNICATIONS, INC.

(CHTR)
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Charter Communications 1Q Profit Rises, Driven by Internet and Mobile

04/30/2021 | 07:34am EDT

By Dave Sebastian

Charter Communications Inc. said its profit rose for the first quarter, driven by growth in internet and mobile revenues.

The broadband company on Friday posted net income attributable to shareholders of $807 million, compared with $396 million in the year-ago period. Earnings were $4.11 a share, compared with $1.86 a share in the prior year.

Revenue rose 6.7% to $12.52 billion. Analysts polled by FactSet were expecting $12.5 billion. Excluding advertising revenue, which benefited from political spending in the first quarter a year ago, revenue grew 7.1%, the company said.

Internet revenue rose more than 15% as the company added customers, it said. Video revenue fell 1.8% due to a higher mix of lower priced video packages within its video customer base, the company said. Voice revenue fell almost 13% due to a decline in wireline voice customers over the last 12 months.

Residential revenue rose 5.8%, commercial revenue rose 2% and mobile revenue gained nearly 91%. Advertising sales revenue fell 5.8%.

Residential and small and medium business customers rose by 355,000 during the quarter, the company said. Charter served 29.2 million residential and small and medium business customers as of March 31, with two million internet customers added over the last 12 months.

Write to Dave Sebastian at dave.sebastian@wsj.com

(END) Dow Jones Newswires

04-30-21 0733ET

Stocks mentioned in the article
ChangeLast1st jan.
CHARTER COMMUNICATIONS, INC. 2.69% 770.02 Delayed Quote.16.40%
DJ INDUSTRIAL 0.80% 35116.4 Delayed Quote.14.14%
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Financials (USD)
Sales 2021 51 379 M - -
Net income 2021 4 290 M - -
Net Debt 2021 88 511 M - -
P/E ratio 2021 36,4x
Yield 2021 -
Capitalization 142 B 142 B -
EV / Sales 2021 4,48x
EV / Sales 2022 4,33x
Nbr of Employees 96 100
Free-Float 79,4%
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Charter Communications, Inc. Technical Analysis Chart | CHTR | US16119P1084 | MarketScreener
Technical analysis trends CHARTER COMMUNICATIONS, INC.
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 32
Last Close Price 770,02 $
Average target price 799,71 $
Spread / Average Target 3,86%
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Managers and Directors
Thomas M. Rutledge Chairman & Chief Executive Officer
John Bickham Vice Chairman, President & Chief Operating Officer
Christopher L. Winfrey Chief Financial Officer
Richard J. DiGeronimo Chief Product & Technology Officer
Stephanie Mitchko-Beale Chief Technology Officer & Executive VP
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