Charter Communications stock gains after profit, revenue rise above forecasts

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Shares of Charter Communications Inc. CHTR, -4.44% gained 0.2% in premarket trading Friday, after the broadband communications and cable TV company reported profit and revenue that rose above expectations, with the company’s internet business showing the biggest growth. Net income rose to $1.22 billion, or $6.50 a share, from $814 million, or $3.90 a share, in the year-ago period. The FactSet consensus for earnings per share was $5.76. Revenue rose 9.2% to $13.15 billion, beating the FactSet consensus of $12.93 billion. Residential revenue grew 9.4% to $10.27 billion, with internet revenue rising 13.6% to $5.36 billion and video revenue up 6.7% to $4.50 billion. Commercial revenue rose 7.1% to $1.72 billion and mobile revenue increased 45.4% to $535 million, while advertising sales dropped 15.1% to $391 million. Capital expenditures slipped to $1.9 billion from $2.0 billion, while free cash flow increased to $2.5 billion from $1.8 billion. The stock has slipped 1.1% over the past three months through Thursday, while the S&P 500 SPX, +0.19% gained 4.0%.

This article was originally published by Marketwatch.com. Read the original article here.

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