Charter signs up more internet subscribers in third quarter

October 26, 2018 12:00 pm

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FILE PHOTO – A Charter Communications company service van is pictured in Pasadena, California U.S., January 26, 2017. REUTERS/Mario Anzuoni

(Reuters) – Charter Communications Inc said it added more internet subscribers than Wall Street had expected in the third quarter, offsetting a drop in video subscribers that was also less severe than expected.

The company added 266,000 residential internet customers in the third quarter, above the consensus estimate of 234,000, according to research firm FactSet.

Net income attributable to shareholders was $ 493 million, or $ 2.11 cents per share, in the quarter ended Sept. 30, compared with $ 48 million, or 19 cents per share, a year earlier.

Total revenue rose 4.1 percent to $ 10.89 billion from $ 10.46 billion. Analysts had expected the company to report revenue of $ 10.94 billion, according to Refinitiv data.

Reporting by Akanksha Rana in Bengaluru; Editing by Saumyadeb Chakrabarty

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