12:01 PM EST, 01/31/2025 (MT Newswires) -- Charter Communications ( CHTR ) on Friday logged stronger-than-forecast fourth-quarter results amid double-digit percentage gains in advertising and residential mobile service revenue.

The broadband connectivity company and cable operator reported earnings of $10.10 a share for the quarter through Dec. 31, up from $7.07 a year earlier. Revenue rose 1.6% to $13.93 billion, with advertising and residential mobile service sales jumping 26% and 37%, respectively. Analysts polled by FactSet were looking for non-GAAP EPS of $9.21 and total sales of $13.88 billion.

The company's Spectrum Mobile business continued to grow at a "rapid" pace, with additions of more than 2 million lines last year, Chief Executive Chris Winfrey said on an earnings conference call, according to a FactSet transcript. "Our multiyear investment initiatives, including network evolution, network expansion and execution, including the investment in frontline employees and tenure to benefit our service, are all delivering tangible results."

Charter Communications' ( CHTR ) shares were up 3.5% in Friday trade.

Fourth-quarter mobile lines rose by 529,000, compared with a 546,000 gain a year earlier. Video customers fell by 123,000 versus a 257,000 decline in the year-ago period, with the company attributing the improvement to new and simplified pricing and packaging launched in September.

Internet customers decreased by 177,000, hit by the end in the second quarter of the government's Affordable Connectivity Program, or ACP, which subsidized broadband affordability for internet and mobile customers.

Full-year EPS rose to $34.97 from $29.99 a year earlier, while revenue grew 0.9% to $55.09 billion. Wall Street was looking for $33.75 and $55.03 billion, respectively.

Charter Communications ( CHTR ) expects its first-quarter results to include "some lost customers and passings" tied to the recent Southern California wildfires, Chief Financial Officer Jessica Fischer said on the call. "We're still assessing impacted area."

In November, the company agreed to acquire Liberty Broadband ( LBRDA ) in an all-stock deal. Charter Communications ( CHTR ) aims to resume its open market buyback program following a shareholder vote on the Liberty deal scheduled for Feb. 26, Fischer told analysts.

Charter Communications ( CHTR ) said it projects 2025 capital expenditures at roughly $12 billion, compared with $11.3 billion in the just-concluded year.

"As we look to 2025 and beyond, the environment for broadband, mobile and video remains competitive, but we had better visibility than this time last year," Winfrey said on the call. "The impact of the elimination of the ACP is now behind us. Cell phone internet net additions appear to have peaked or be stabilized, and we continue to do well against new fiber overlap."

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