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Behind Charter’s Big Long-Term Growth Drivers

PART:
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Part 2
Behind Charter’s Big Long-Term Growth Drivers PART 2 OF 7

Why Charter’s Revenues Kept Rising in 2Q17

Charter’s revenue trend for the past few quarters

As we discussed in the first part of this series, Charter Communications’ (CHTR) earnings fell YoY (year-over-year) in 2Q17 on a pro forma basis. Charter’s revenues rose ~3.9% YoY on a pro forma basis in 2Q17, reaching $10.36 billion in 2Q17, though came in below the consensus estimate of $10.39 billion.

This increase in total revenues was mainly driven by solid growth in Charter’s Internet and Commercial segments as it integrates acquisitions.

Why Charter’s Revenues Kept Rising in 2Q17

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Charter’s revenue components in 2Q17

The revenue growth for Charter’s residential services in 2Q17 was primarily driven by its Internet segment. Residential revenues grew ~3.8% YoY to reach ~$8.3 billion for the quarter, while revenues from residential services grew a solid ~12.1% YoY to reach ~$3.5 billion.

The Commercial segment also drove Charter’s consolidated revenue growth in 2Q17, growing ~9.5% YoY to reach ~$1.5 billion for the quarter. Both its enterprise and its small and medium business segments contributed to this growth.

By comparison, Comcast’s (CMCSA) revenues grew ~9.8% YoY to reach $21.2 billion in 2Q17, while Dish Network’s (DISH) revenue fell ~5.7% YoY to reach ~$3.6 billion in 2Q17. Verizon Communications’ (VZ) Wireline segment revenues fell ~1.2% YoY to reach $7.8 billion in 2Q17.

Continue to the next part for a discussion of Charter’s EBITDA (earnings before interest, tax, depreciation, and amortization) margin.

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