3 May

Why Charter’s Revenue Grew in Q1 2019

WRITTEN BY Sneha Nahata

Charter’s revenue

Charter Communications’ (CHTR) revenue had risen sequentially for seven quarters straight until the first quarter of 2019, when it fell sequentially to $11.21 billion. However, it beat analysts’ estimate of $11.20 billion and grew 5.1% YoY (year-over-year).

In comparison, T-Mobile’s (TMUS) first-quarter revenue of $11.1 billion beat analysts’ expectation. AT&T’s (T) revenue missed analysts’ expectation but grew ~18% YoY.

Why Charter’s Revenue Grew in Q1 2019

Sign up for Bagels & Stox, our witty take on the top market and investment news, straight to your inbox! Whether you’re a serious investor or just want to be informed, Bagels & Stox will be your favorite email.

Q1 2019 revenue drivers

Charter’s revenue grew YoY thanks to its residential and commercial segments. Internet and video revenue drove its residential unit, whereas its advertising and other revenue fell.

Residential revenue, including video, voice and Internet revenue, increased 4.2% YoY in the first quarter. Video revenue grew 2.1% YoY, and Internet revenue increased 8.6% YoY, driven by higher promotional roll-offs. However, voice revenue declined 9.4% YoY in the first quarter due to a decline in wireline voice customers.

Commercial revenue grew 4.3% YoY in the first quarter, driven by enterprise revenue growth of 3.4% and small-to-medium-sized business revenue growth of 5.0%. Softness in political revenue pulled down Q1 advertising revenue by 3.1% YoY.

Latest articles

On October 17, Cannabis 2.0 legalized edibles, beverages, and concentrates in Canada. As the country waits for the benefits, is Cannabis 3.0 next?

Prohibition Partners expects that by 2024, the legal cannabis market could reach $103.9 billion and the medical cannabis market could reach $62.6 billion.

The cannabis sector was trading in the red today. MKM Partners lowered its revenue estimates for Canopy Growth (CGC) (WEED) and Aurora Cannabis (ACB).

Ford plans to unveil its crossover SUV, the Mach-E, on November 17. Ford committed $11.5 billion toward the electrification of its fleet through 2022.

This week is important for the cannabis sector, as Canopy Growth and Aurora Cannabis are both set to report their earnings results on November 14.

Currently, 33 states and Washington, D.C., have legalized medical cannabis, but it's illegal in Kansas. Even having a small amount is considered a crime.