Charter Communications Clocks 9.2% Revenue Growth In Q3 Driven By Data Usage - Charter Communications (NASDAQ:CHTR)

Charter Communications Inc CHTR reported third-quarter FY21 revenue growth of 9.2% year-on-year, to $13.15 billion, beating the consensus of $12.93 billion.
Revenue growth of 9.4% in Residential, 45.4% in Mobile, and 7.1% in Commercial drove the top-line performance.
Charter added 243,000 residential Internet customers during Q3, compared to 494,000 during last year. Residential video customers decreased by 133,000 in Q3 versus an increase of 53,000 in the prior year.
Margin: Adjusted EBITDA margin expanded 170 basis points to 40.2%. Operating expenses rose 6.2% Y/Y.
EPS of $6.50 beat the consensus of $5.70.
"As data usage both inside and outside the home continues to increase, so do our network and product capabilities. We remain confident in our ability to grow customers, EBITDA and free cash flow for many years to come," said Tom Rutledge, Chairman, and CEO of Charter.
As of September 30, Charter served a total of 29.9 million residential and SMB Internet customers.
Net cash flow from operating activities totaled $4.3 billion. The company held $466 million in cash and equivalents.
Price Action: CHTR shares traded lower by 5.14% at $670 in the premarket session on the last check Friday.