Skip to Content
Global News Select

Charter Communications Posts Higher 3Q Profit and Revenue, Adds Customers

By Matt Grossman

Charter Communications Inc. Friday posted a rise in its third-quarter profit as it added a greater number of internet and mobile-phone customers and as advertising spending increased with a boost from political campaigns.

The Stamford, Conn.-based cable-TV and internet provider logged a third-quarter profit of $814 million, or $3.90 a share, compared with a profit of $387 million, or $1.74 a share, in the same three-month period a year earlier.

Analysts surveyed by FactSet were expecting a profit of $3.18 a share.

Revenue was $12.04 billion, up from $11.45 billion in the same three-month period a year earlier. Analysts had forecast revenue of $12.07 billion.

Residential-customer revenue grew by 4% to $9.4 billion as the company gained new internet customers and stepped others up from introductory rates. The gains more than offset expenses from credits as Charter set aside money to reimburse sports-network subscribers for canceled games during the pandemic.

Advertising sales increased by 17% year-over-year as political campaigns booked more spots ahead of next month's elections. Ad revenue declined by 11% excluding political buyers.

Residential and small- and medium-business internet customers increased by 537,000 in the quarter, compared with 380,000 in the year-earlier period. Charter added 363,000 new mobile lines, compared with 276,000 in the same period a year earlier.

Write to Matt Grossman at

(END) Dow Jones Newswires

October 30, 2020 07:54 ET (11:54 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.

Transparency is how we protect the integrity of our work and keep empowering investors to achieve their goals and dreams. And we have unwavering standards for how we keep that integrity intact, from our research and data to our policies on content and your personal data.

We’d like to share more about how we work and what drives our day-to-day business.

We sell different types of products and services to both investment professionals and individual investors. These products and services are usually sold through license agreements or subscriptions. Our investment management business generates asset-based fees, which are calculated as a percentage of assets under management. We also sell both admissions and sponsorship packages for our investment conferences and advertising on our websites and newsletters.

How we use your information depends on the product and service that you use and your relationship with us. We may use it to:

  • Verify your identity, personalize the content you receive, or create and administer your account.
  • Provide specific products and services to you, such as portfolio management or data aggregation.
  • Develop and improve features of our offerings.
  • Gear advertisements and other marketing efforts towards your interests.

To learn more about how we handle and protect your data, visit our privacy center.

Maintaining independence and editorial freedom is essential to our mission of empowering investor success. We provide a platform for our authors to report on investments fairly, accurately, and from the investor’s point of view. We also respect individual opinions––they represent the unvarnished thinking of our people and exacting analysis of our research processes. Our authors can publish views that we may or may not agree with, but they show their work, distinguish facts from opinions, and make sure their analysis is clear and in no way misleading or deceptive.

To further protect the integrity of our editorial content, we keep a strict separation between our sales teams and authors to remove any pressure or influence on our analyses and research.

Read our editorial policy to learn more about our process.