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Charter Stock Gains Driven By Strong Q1 Mobile Biz, Advertising Sinks 7% https://ift.tt/ZUJQba5 Despite losing 241,000 video customers and a slowdown in subscriber growth, Charter Communications stock spiked 6% on Friday to $363.60 on the news of an increase in residential revenue. Quarterly revenues were up 3.4% to $13.7 billion overall, with residential growth rising 2.5% to $10.8 billion. Broadband revenue climbed nearly 5% to $5.7 billion, with video revenue down 2.1% to $4.2 billion -- the latter driven by a mix of lower-priced video packages. Video subscribers dropped 5.5% in the period to 14.3 million, while broadband customers were virtually flat -- up a scant 0.6% to 28.5 million. One key area for Charter is mobile service sales -- rising a sharp 28% to $497 million. In addition, the company's “Other” revenue -- which include mobile-device sales -- were sharply higher: 34% to $683 million. There was also 2.4% growth in commercial revenue. Advertising revenue for Charter suffered -- down 7.2% to $355 million -- due to comparisons to the year-ago period, with its higher political advertising revenue. Taking out political revenue, Charter's advertising still declined 2.1% year-over-year. Charter noted that it did have higher “advanced advertising revenue.” advertisement advertisement Mobile Marketing via MediaPost.com: mobile https://ift.tt/0KRUiW3 April 28, 2023 at 12:02PM
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April 2023
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