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- Charter Communications Inc (NASDAQ:CHTR) reported second-quarter FY21 revenue growth of 9.5% year-on-year, to $12.80 billion, beating the analyst consensus of $12.61 billion.
- Revenue growth of 6.8% in residential, 67.5% in mobile, and 65.1% in advertising sales drove the top-line performance.
- Charter added 365,000 residential Internet customers during Q2, compared to 842,000 during last year. Residential video customers decreased by 63,000 in Q2 versus an increase of 102,000 in the prior year.
- Operating expenses rose 8% Y/Y to $7.8 billion.
- The operating margin was 20.1%, and operating income for the quarter rose 30.8% to $2.6 billion.
- Net cash flow from operating activities totaled $3.99 billion. The company held $1.7 billion in cash and equivalents as of June 30, 2021.
- Adjusted EBITDA grew 11.8% to $5.0 billion. Adjusted EBITDA margin expanded 80 basis points to 39.2%.
- EPS of $5.29 beat the analyst consensus of $4.78.
- "Our operating strategy continues to deliver strong customer and financial growth despite an operating environment that has yet to return to normal," said Chairman and CEO Tom Rutledge.
- As of June 30, 2021, Charter served a total of 29.6 million residential and SMB Internet customers.
- Price action: CHTR shares are trading higher by 3.83% at $741.40 on the last check Friday.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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