— the big publicly-traded, pure play cable company — Friday posted revenue for the September quarter up 5% at $12 billion driven by growth in residential high-speed broadband, mobile and advertising. Net income jumped to $814 million from $387 million.
Adoption of high-speed internet service has been racing, driven by households needing more bandwidth during the pandemic and overall shifts in the video landscape, said CEOon a call with Wall Street analysts. Other companies have also reported sharp Internet growth. Rutledge said the uptick in video isn’t a reversal of long-term trends but a reflection of how fast Charter is adding broadband customers — some of them taking video as well. “We still think bundles of very expensive video are under pressure and will continue to be and we’ll have continued erosion of that bundle over time. But we are just growing faster than that erosion,” he said.
Over the last 12 months, Charter said total high-speed Internet subs grew by 2.3 million, or 8.8%, to 28.6 million. COVID drove some of the increased demand but Rutledge said he doesn’t think growth will “go backward or away. It’s a permanent shift” with some households turning mobile-only or generally requiring more broadband.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Samsung Electronics sees profit decline on weaker chip demand after strong third-quarter earningsSamsung Electronics Co Ltd said on Thursday it expects profits to fall in the current quarter after posting its highest operating profit in two years for the third quarter. In the future, Samsung hopes to change from the role of a market participant to the role of the market creator that Steve Jobs advocated.
Source: Reuters - 🏆 2. / 97 Read more »
Samsung sees profit decline on weak server chip demand after strong third-quarter earningsSamsung Electronics Co Ltd said on Thursday it expects fourth-quarter profit to fall due to weak server chip demand and rising smartphone competition, after posting its best quarterly operating profit in two years in the third quarter. I have just wasted my money on Samsung I have found that the cheaper cellphone is better than this A2core
Source: Reuters - 🏆 2. / 97 Read more »
Samsung Elec sees profit decline on weak server chip demand after strong third-quarter earningsSamsung Electronics Co Ltd said on Thursday it expects fourth-quarter profit to fall due to weak server chip demand and rising smartphone competition, after posting its best quarterly operating profit in two years in the third quarter.
Source: Reuters - 🏆 2. / 97 Read more »
Germany Sees Generational Conflict Over Pandemic As Virus SpreadsGermany is heading into a partial lockdown. Berlin already imposed closing hours to its nightlife for the first time in decades as Germany's leader asked youth to think of their grandparents. Thanks a lot, Trump! Trump's fault.
Source: NPRHealth - 🏆 144. / 63 Read more »
Ford sees full-year pretax profit, posts stronger than expected quarterly earningsFord Motor Co on Wednesday posted a better-than-expected quarterly profit on strong U.S. demand for pickups and SUVs, and forecast a full-year pretax profit instead of a loss, boosting shares in after-hours trading. Ford give us another subcompact ST! The only way I would drive a Ford anything is if it were given to me no strings attached. FirstOnRaceDay
Source: Reuters - 🏆 2. / 97 Read more »
Watchdog sees massive potential loan fraud at SBA, sparking fight with agencyA federal watchdog said the Small Business Administration has potentially approved billions of dollars of inappropriate disaster aid loans during the pandemic, triggering a forceful defense from the head of the agency Let me see. Bureaucrat comes out with this right before the election? Is this a case of a government official trying to influence an election? Worst news ever! more election year hijinx from a corrupt administration whomp whomp.
Source: politico - 🏆 381. / 59 Read more »