Charter Communications, Inc. (NYSE:CHTR) today reported financial and operating results for the three months ended June 30, 2019.
The Stamford, Conn.-based CHTR says its second-quarter total residential and SMB customer relationships increased 203,000, compared to 196,000 during the second quarter of 2018. As of June 30, Charter had 28.7 million total customer relationships, with growth of over 1.0 million year-over-year.
During the second quarter, Charter generated residential and SMB Internet net additions of 258,000, video net losses of 141,000 and wireline voice net losses of 182,000.
Charter added 208,000 mobile lines in the second quarter, compared to 176,000 mobile line net additions in the first quarter of 2019. Late in the second quarter, our Bring Your Own Device (BYOD) program was expanded to all sales channels. As of June 30, 2019, Charter served a total of 518,000 mobile lines.
Second-quarter revenues of $11.3 billion grew 4.5%, as compared to the prior year period, driven by residential revenue growth of 3.7%, commercial revenue growth of 4.7% and mobile revenue of $158 million.
Said CEO Tom Rutledge, "We are realizing the benefits of consolidating three large cable operators under one centralized operating strategy, with lower customer churn, fewer service transactions per customer and improving customer satisfaction resulting in growth of over one million customer relationships year-over-year.
"In the second quarter, free cash flow grew nearly 40% year-over-year. Our core business is strong and we are positioned to be the network of choice today and in the future."
Shares slid $21.42, or 5.3%, to $384.11.
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