Charter: Q1 2021 Results Quick Read (Free on Substack)

Flash Note (CHTR US) (Buy)

Charter has just released its Q1 2021 results before U.S. markets open this morning.

Internet net adds were 355k for the quarter, a solid number following already strong growth in the preceding quarters as a result of COVID-19 lockdowns; Internet net adds were 246k in Q4 2020 and 582k in Q1 2020:

Internet revenues grew 15.4% year-on-year, more than offsetting declines in Video and Voice revenues, which meant total Residential revenues grew 5.8%. In other revenue lines, Commercial grew 2.0%, Advertising grew 5.8% and Mobile grew 91% year-on-year. Total revenues was up 6.7% year-on-year: