Tag Archives: Subscribers
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
(Reuters) – Apple Inc on Wednesday appointed a new executive to oversee its Apple Music streaming business and hit 48 million subscribers, the company said.
Apple said it had appointed Oliver Schusser as vice president of Apple Music and international content. Schusser, who joined Apple 14 years ago, will report directly to Apple senior vice president Eddy Cue and will also oversee Apple’s services outside the United States, including the App Store and iTunes.
Apple’s top streaming music rival Spotify Technology SA has 71 million so-called premium subscribers, a figure that includes users who have given the company a credit card number for a free trial. Spotify became a public company earlier this month after holding a so-called direct listing on the New York Stock Exchange.
On a comparable basis, the Apple Music service has 48 million subscribers, 40 million of whom are paying subscribers and 8 million of whom are on a free trial, Apple said. Both firms charge $ 9.99 a month for streaming music but provide discounts for student and family plans.
Variety magazine earlier reported the new subscriber figures and Schusser’s promotion. He previously built up Apple’s services businesses outside the U.S. in 155 markets, including China, Japan and Latin America, Apple said.
Apple’s services business, which includes Apple Music, the App Store and iCloud, is becoming increasingly important to the Apple’s financial outlook because the smart phone market has matured and iPhone sales growth has slowed. In its most recent quarter, Apple’s services business grew 18 percent to $ 8.4 billion, missing analyst expectations of $ 8.6 billion.
(This version of the story corrects paragraph 1 to Wednesday instead of Thursday)
Reporting by Stephen Nellis; Editing by Bernadette Baum