Charter shows growth in internet subscribers, but earnings miss


Charter Communications Inc. CHTR, +3.65% saw an increase in its count of residential internet customers during the latest quarter, but the cable giant fell short of expectations on earnings. The company recorded third-quarter net income of $1.19 billion, or $7.38 a share, compared with $1.22 billion, or $6.69 a share, in the year-earlier period. Analysts tracked by FactSet were expecting $8.21 in earnings per share. Charter also posted adjusted earnings before interest, taxes, depreciation, and amortization (Ebitda) of $5.41 billion, up from $5.29 billion, while analysts had been modeling $5.52 billion. Total revenue increased to $13.55 billion from $13.15 billion, whereas the FactSet consensus was for $13.68 billion. The company saw its count of total residential internet customers increase by 61,000, while residential video customers fell by 211,000. The company added 396,000 mobile lines in the third quarter. Shares of Charter are off 50% over the past 12 months as the S&P 500 SPX, +2.46% has lost 17%.

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