Stock

Charter rises after Q1 shows customer gains (NASDAQ:CHTR)

Charter Communications (NASDAQ:CHTR) is up 2.4% despite a down market and a miss on its Q1 earnings, though profits rose sharply and the company boosted subscribers with broadband’s help.

Revenue rose 4.7% to $11.74B, buoyed by home broadband and some impressive gains in mobile.

EBITDA grew by 8.4% to $4.4B, and net income jumped to $396M from $253M.

Total residential and SMB customer relationships rose by 486,000 (vs. a year-ago gain of 351,000). Internet customers rose by 582,000 (vs. 428,000 a year ago).

Revenue by segment: Internet, $4.41B (up 9.5%); Video, $4.42B (up 0.9%); Voice, $457M (down 9.4%); SMB, $996M (up 5.4%); Enterprise, $622M (down 3.2%); Commercial revenue, $1.62B (up 1.9%); Ad sales, $365M (up 5.7%); Mobile, $258M (up 85%); other, $211M (down 4.4%).

Free cash flow rose to $1.4B from $645M a year ago (cable free cash flow rose to $1.6B from $936M).

Press release