NEW YORK (TheStreet) -- Charter Communications (CHTR - Get Report), one-time suitor of Time Warner Cable (TWC - Get Report), reported its first quarterly profit since 2010, boosted by sales growth in its broadband segment.
The company recorded net income of $39 million from a loss of $40 million in the year-ago quarter. Per-share earnings of 35 cents beat expectations by 11 cents, according to analysts surveyed by Thomson Reuters.
The fourth-largest cable provider in the U.S. saw revenue jump 12% to $2.14 billion, just falling shy of consensus by $14 million.
Charter managed to increase its internet customer base by 2.2% to 4.38 million subscribers as of Dec. 31.By midday, shares had tripped 4.8% to $125.56. Must Watch: Will the Comcast-Time Warner Deal Get Past DC Regulators? TheStreet Ratings team rates CHARTER COMMUNICATIONS INC as a Hold with a ratings score of C. The team has this to say about their recommendation: "We rate CHARTER COMMUNICATIONS INC (CHTR) a HOLD. The primary factors that have impacted our rating are mixed -- some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth, good cash flow from operations and solid stock price performance. However, as a counter to these strengths, we also find weaknesses including generally higher debt management risk, disappointing return on equity and poor profit margins."
- You can view the full analysis from the report here: CHTR Ratings Report