Riding a wave of accelerating commercial revenues, Charter Communications (Nasdaq: CHTR) reported first-quarter 2012 revenues of $1.83 billion, up 2.8 percent from Q1 2011.
The company said its commercial revenues were up 20.5 percent year-over-year, at $153 million.
Following a recent MSO trend, Charter, which has taken a broadband-centric marketing approach, added 114,000 residential Internet customers--51,000 more than the year-ago period--and, reversing a recent cable trend, 20,000 video subscribers.
The MSO continued to push out into the commercial voice and broadband space, growing its customer base from 298,000 in Q4 2011 to 311,000 in the quarter ended March 31. A year ago, Charter claimed 292,000 commercial customers.
The earnings reflected the fact that the MSO is "effectively executing on our strategic priorities of delivering a great customer experience, capitalizing on our market-leading Internet product, improving our video and voice products, and growing our commercial business," President-CEO Tom Rutledge said in a statement.
- see the earnings release
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