Charter Communications Inc. (NASDAQ:CHTR) reported mixed third-quarter results on Friday, missing FactSet consensus estimates and analysts' expectations with only 63,000 internet subscriber additions. The company also experienced a significant loss of 327,000 video subscribers due to a dispute with Walt Disney (NYSE:DIS) Co., which impacted ESPN's performance.
Despite these challenges, Charter managed to report an increased net income of $1.26 billion, or $8.25 per share, surpassing the expected $8.06 per share. However, the company's revenue remained flat at $13.58 billion, slightly lower than the previous year's $13.55 billion and below the modeled $13.64 billion.
In a contrasting performance to Comcast (NASDAQ:CMCSA)'s broadband decline, Charter added 594,000 mobile lines in the third quarter. Furthermore, the company executed a buyback of 2 million shares for $854.
Following the announcement of the quarterly results, Charter's stock fell by 3% in premarket trading on Friday. Despite this dip, the company's shares have seen a year-to-date rise of 21.4%.
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