Charter Communications Inc. CHTRdelivered first-quarter 2018 adjusted earnings of 70 cents per share that beat the Zacks Consensus Estimate by 26 cents and surged 22.8% from the year-ago quarter.
Revenues increased 4.9% year over year to $10.66 billion that comfortably surpassed the Zacks Consensus Estimate of $10.
Segment Details
Residential revenues (80.3% of revenues) came in at $8.56 billion, up 4.8% from the year-ago quarter. Video and Internet revenues increased 5.3% and 9.1%, respectively. Voice revenues plunged 19.9% year over year.
Management stated that launch of Spectrum pricing and packaging in legacy Time Warner Cable (“TWC”) and legacy Bright House footprints drove top-line growth.
Commercial revenues (14.2% of revenues) increased 5.4% year over year to $1.52 billion. Small and medium business (SMB) and Enterprise revenues increased 4.1% and 7.4%, respectively.