— Cable provider Charter Communications (NASDAQ: CHTR) reported its fourth-quarter 2019 earnings of $3.28 per share versus $2.48 per share expected.
— Revenue rose by 5% to $11.76 billion versus $11.73 billion expected. This is driven by growth in Internet, mobile, video, and SMB (small to medium-sized business) revenue.
— Excluding mobile and advertising revenue, which benefited from political spending in the fourth quarter of 2018, revenue grew by 4.8% year-over-year.
— Video revenues rose 2.6% on rate adjustments and promotional roll-off, partly offset by a decline in video customers during the last year, a higher mix of streaming and lighter video packages within its video customer base and lower pay-per-view and video on demand revenue.
— Internet revenues grew 11.5% driven by growth in Internet customers during the last year, promotional roll-off, and rate adjustments.
— Voice revenues fell 12.5% due to a decline in wireline voice customers over the last twelve months and value-based pricing.
— Commercial revenues rose 1.8% on SMB revenue growth of 6.4%, partly offset by a decline in enterprise revenue of 4.5%.
— Advertising revenue dropped by 22.7% due to lower political revenue. Excluding political revenue, advertising sales revenue rose by 4.6% year-over-year.
— Other revenue decreased by 6.6% due to lower processing fees and home shopping revenue, partly offset by video customer premise equipment sold to customers.
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