By George Glover
Charter Communications stock was rising Friday as strong mobile-service revenue growth helped the cable provider's earnings to top Wall Street's expectations.
Shares in the company, which offers pay TV services and Spectrum internet service, climbed 5.8% to $356.12. The S&P 500 was up 0.4%.
The gains came after Charter reported fourth-quarter earnings of $10.10 a share. Revenue climbed 1.6% from a year ago to $13.93 billion. Analysts surveyed by FactSet were expecting earnings of $9.21 a share from revenue of $13.88 billion.
Revenue for Charter's video business fell 7.4% from a year ago to $3.62 billion, but a 37.4% jump in mobile service revenue and a 26.4% gain in ad sales helped offset that.
Charter lost 177,000 internet customers over the fourth quarter, but added 529,000 mobile lines.
Charter's results come a day after numbers from rival Comcast showed it had lost more broadband subscribers than analysts were expecting over the fourth quarter. Comcast stock ticked up 0.8% Friday, having plunged 11% the previous session.
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
January 31, 2025 10:02 ET (15:02 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.