- Charter Communications, Inc (NASDAQ:CHTR) reported first-quarter FY22 revenue growth of 5.4% year-on-year to $13.20 billion, marginally missing the consensus of $13.21 billion.
- Revenue growth of 3.7% in Residential, 40.2% in Mobile, and 4.3% in Commercial drove the top-line performance.
- Charter added 164,000 residential Internet customers, compared to 334,000 last year. Residential video customers decreased by 123,000 versus a decrease of 156,000 in the prior year.
- Margin: Adjusted EBITDA margin was stable at 39.5%. Operating expenses rose 5.4% Y/Y.
- EPS of $6.90 beat the consensus of $6.47.
- As of March 31, Charter served 30.3 million residential and SMB Internet customers.
- Net cash flow from operating activities totaled $3.65 billion. The company held $2.4 billion in cash and equivalents.
- Chair and CEO Tom Rutledge said, "We continue to grow our business by offering superior converged connectivity products. And our new joint venture with Comcast will allow us to provide a next generation streaming platform that offers new and differentiated direct-to-consumer products to meet demand in a fast-changing video environment."
- Related: Comcast, Charter Joint Venture Streaming Platform: What Investors Need To Know
- Price Action: CHTR shares traded higher by 0.33% at $463 in the premarket session on the last check Friday.
