Charter’s high-speed Internet customers
Charter Communications (CHTR) is feeling good about the growth trajectory of its high-speed Internet segment, as demand is growing for high-speed Internet connections as people are dropping traditional pay-TV plans for OTT (over-the-top) offerings.
In the fourth quarter, Charter gained 289,000 residential broadband net customers compared to the 263,000 net customers it gained in the fourth quarter of 2017. The company’s number of residential broadband customers had increased ~4.9% YoY (year-over-year) to 23.6 million as of December 31. Its residential broadband revenue rose ~7.1% YoY to $3.9 billion in the fourth quarter.
During Charter’s fourth-quarter earnings conference call, the company’s management stated, “We’ve completed the upgrade to DOCSIS 3.1 and the launch of our gigabit speed offering across our entire residential and business footprint.”
US broadband market
As of December 31, Comcast (CMCSA) was the largest cable operator and had the largest Internet customer base in the United States with 25.1 million residential broadband customers. AT&T (T) had 15.7 million broadband subscribers in the United States, while Verizon (VZ) had 7.0 million broadband customers in the country.