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Investing.com -- Charter Communications, Inc. reported first-quarter 2025 results that exceeded analyst expectations, sending shares up 2.8% in early trading on Friday.
The cable and internet provider posted adjusted earnings per share of $8.42, beating estimates by $0.01. Revenue came in at $13.7 billion, slightly above the $13.67 billion consensus forecast and up 0.4% YoY.
Charter’s total Internet customers decreased by 60,000 in Q1 to 30 million. However, mobile lines increased by 514,000 to reach 10.4 million. Total (EPA:TTEF) customer relationships, excluding mobile-only, stood at 31.4 million as of March 31.
Revenue growth was driven by a 33.5% increase in residential mobile service revenue and 1.8% growth in residential Internet revenue. This was partially offset by an 8.4% decline in video revenue as cord-cutting trends continued.
"We continue to execute on our long-held strategy of delivering the best network and products, at the best value, combined with unmatched service," said Chris Winfrey, President and CEO of Charter. "That strategy is working, as evidenced by our first quarter results."
The company’s Adjusted EBITDA grew 4.8% YoY to $5.8 billion. Free cash flow increased significantly to $1.6 billion, up from $358 million in the prior year period.
Charter repurchased 2.1 million shares for approximately $751 million during the quarter.