By George Glover
Charter Communications stock was rising Friday after the company topped Wall Street's revenue estimates and added more mobile customers than expected.
Charter, which operates the Spectrum pay TV and internet services, reported adjusted first-quarter earnings of $8.42 a share, as revenue rose 0.4% from a year ago to $13.74 billion. Analysts were expecting earnings of $8.43 a share on revenue of $13.67 billion, according to a FactSet poll.
Shares jumped 10% to $368.66 in early trading. The S&P 500 index was up 0.2%.
Charter added 514,000 mobile line subscriptions over the quarter, beating the 448,000 adds that analysts were expecting.
The cable operator lost 60,000 internet customers, attributing 9,000 of those to disconnects during January's California wildfires.
Charter also shed 181,000 video subscribers, compared to a drop of 405,000 a year ago. It touted solid demand for its bundled streaming plan, which offers customers ad-supported versions of platforms including Warner Bros. Discovery's Max, Disney+, Paramount+, and Comcast's Peacock.
Charter stock is up more than 7% this year, as of early Friday trading. The S&P 500 has dropped 6.7% in 2025.
Write to George Glover at george.glover@dowjones.com
This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.
(END) Dow Jones Newswires
April 25, 2025 09:47 ET (13:47 GMT)
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