Charter Q1 Loses 120,000 Broadband Customers, EPS $9.17 on $13.6B Revenue
Charter lost 120,000 broadband customers in the first quarter, exceeding the expected loss of 100,036, while video subscriptions declined by 60,000. The company posted revenue of $13.6 billion, slightly above estimates, but reported earnings per share of $9.17 versus the $9.97 consensus.
1. Q1 Customer Trends
Charter shed 120,000 broadband customers in the quarter, surpassing the estimated loss of 100,036. Video subscriptions fell by 60,000, better than the anticipated decline of 85,872, supported by simplified pricing and packaging.
2. Financial Performance
The company reported revenue of $13.60 billion, topping analyst forecasts of $13.55 billion, and generated net income of $1.16 billion. However, earnings per share of $9.17 missed the consensus estimate of $9.97.
3. Mobile Growth and Acquisition Update
Charter added 368,000 mobile lines, below the expected 431,920, reflecting competitive pressure from wireless carriers. The FCC’s February approval of the $34.5 billion Cox Communications acquisition positions Charter for further scale.