Charter Communications Clocks 5.4% Revenue Growth In Q1; Bets On Superior Converged Connectivity, Comcast JV

Charter Communications, Inc CHTR reported first-quarter FY22 revenue growth of 5.4% year-on-year to $13.20 billion, marginally missing the consensus of $13.21 billion.
Revenue growth of 3.7% in Residential, 40.2% in Mobile, and 4.3% in Commercial drove the top-line performance.
Charter added 164,000 residential Internet customers, compared to 334,000 last year. Residential video customers decreased by 123,000 versus a decrease of 156,000 in the prior year.
Margin: Adjusted EBITDA margin was stable at 39.5%. Operating expenses rose 5.4% Y/Y.
EPS of $6.90 beat the consensus of $6.47.
As of March 31, Charter served 30.3 million residential and SMB Internet customers.
Net cash flow from operating activities totaled $3.65 billion. The company held $2.4 billion in cash and equivalents.
Chair and CEO Tom Rutledge said, "We continue to grow our business by offering superior converged connectivity products. And our new joint venture with Comcast will allow us to provide a next generation streaming platform that offers new and differentiated direct-to-consumer products to meet demand in a fast-changing video environment."
Related: Comcast, Charter Joint Venture Streaming Platform: What Investors Need To Know
Price Action: CHTR shares traded higher by 0.33% at $463 in the premarket session on the last check Friday.

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