Benzinga | Apr 30, 2021 09:58AM EDT

Charter Communications Misses Q1 Earnings, Completes $4B Share Buyback

* Charter Communications Inc (NASDAQ: CHTR) reported first-quarter FY21 revenue growth of 6.7% year-on-year to $12.5 billion, meeting the analyst target estimate of $12.5 billion.

* Residential and mobile revenue posted a 5.8% and 90.7% growth, respectively.

* The company added 355,000 Internet customers in Q1, and 2 million over the last year, for year-over-year growth of 7.3%, said Chair and CEO Tom Rutledge.

* The total number of internet customers rose 7.3% to 29.2 million, while total video customers remained flat at 16.1 million.

* Total voice customers remained flattish at 10.4 million, and total mobile lines subs rose 95% to 2.7 million.

* EPS of $4.11 missed analyst estimate of $4.26. Adjusted EBITDA rose 12.5% to $4.9 billion.

* The company held $772 million in cash and equivalents. It generated $3.8 billion in operating cash flow.

* Charter repurchased $4 billion shares during the quarter.

* Price action: CHTR shares are trading lower by 0.49% at $666.66 on the last check Friday.