Charter gains 4% as Internet gains trump Q3's financial miss (NASDAQ:CHTR) - Seeking Alpha

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Charter Communications (NASDAQ:CHTR) is 4.2% higher aft posting third-quarter earnings that missed fiscal targets but seemingly scored wherever it matters: connected adding Internet customers.

Charter missed expectations connected apical and bottommost lines. Revenue grew just 3.5% year-over-year, and portion net per stock roseate (thanks to a sharply little fig of outstanding shares), attributable nett income fell to $1.19B from a year-ago $1.22B.

But it added a nett 61,000 residential Internet customers, starring ita full Internet lawsuit number (residential and small/medium business) to 30.33M, a full 1.4% implicit a twelvemonth ago.

That comes amid an ongoing bleed successful cablegram TV customers. Charter mislaid a nett 211,000 residential video subs, accelerating from a year-ago diminution of 133,000, and residential video subs person fallen 4.2% year-over-year to 14.6M.

Residential dependable customers fell by 271,000, and full dependable customers declined 8.4% year-over-year to onshore astatine 9.22M. Mobile lines proceed to spot growth, with 396,000 full quarterly nett adds bringing the full lawsuit number to 4.68M (up 47% year-over-year).

Those financials were "just light" of expectations but the halfway broadband nett adds were amended than expected, Citi says. The shares "likely to rebound near-term connected amended volume," the slope said.

Wells Fargo saw a mixed report, arsenic the financials missed but "net adhd enactment and mobile maturation appears to awesome a amended operating situation than antecedently feared."

For more, excavation into Charter's net telephone presentation.