By Allison Prang
Charter Communications Inc. on Friday reported higher fourth-quarter revenue and profit but added fewer customers compared with a year earlier.
The broadband company's net income was $1.25 billion, or $6.05 a share, up from $714 million, or $3.28 a share, a year earlier. Earnings beat analysts' consensus estimate according to FactSet.
Revenue was $12.62 billion, up 7.3% from a year ago. Analysts were expecting $12.57 billion.
For the quarter, the company said it added 197,000 customer relationships. That was 26% lower than the number Charter added the comparable quarter a year earlier.
The company said it expects cable capital expenditures for this year "to be relatively consistent or lower as a percentage of cable revenue" compared with last year.
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(END) Dow Jones Newswires
January 29, 2021 07:47 ET (12:47 GMT)Copyright (c) 2021 Dow Jones & Company, Inc.