Why Charter Communications Inc. Shares Gained 17% in the First Half of 2017
While the traditional pay-television business now has to fight for customers with streaming media services, some of the bigger players in the space have been thriving. Among them: No. 2 cable TV player Charter Communications (NASDAQ: CHTR), which has continued to grow despite the challenging operating environment.
Charter started its year strong, adding 287,000 net new customer relationships in Q4, and growing revenue by 7.2% year over year to $10.3 billion (on a pro forma basis). The company followed that up by adding 365,000 net customers in Q1 while growing revenue by 4.3% year over year to $10.2 billion.
CEO Tom Rutledge celebrated those results and explained what was driving them in his remarks in the Q1 earnings release. He also noted that it has been almost a year since the company purchased Time Warner Cable and Bright House Networks.
Source: Fool.com
Charter Communications Inc. A Stock
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